4 ms·

"Scheme" implies a unified/central schemer, though. We can already call it a fad, or a mania (a la tulip mania).

hndamien 8y ago
It certainly does seem to be a "scheme" but I wonder how it compares to other fiat or gold currency when looked at through a "scheme" lens.
- hndamien 8y ago
  Down votes, no comment. Par for the course here.
  - dang 8y ago
    Please don't break the site guidelines. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
    - hndamien 8y ago
      “Please don't comment about the voting on comments. It never does any good, and it makes boring reading.” Thanks, I actually had no idea about this one, and nobody ever bothered to point it out to me. I do find it disheartening though that anything against the grain in this forum often results in downvote and no comment. That said, this will be my final mention of the issue and I’ll just eat the negative karma from here rather than self censor (except on the issue as per the guideline).
      - tomhoward 8y ago
        There is an art (that applies here and elsewhere) to phrasing comments/opinions that might go against the grain, in such a way that people appreciate being educated/enlightened or given the chance to think about an old topic in a new way. Of course on every topic there will be some people who don't want to rethink their position, but you shouldn't worry about them (though accept that their downvotes are inevitable). But if you craft your answers for people who might not yet agree with your position but are open to considering a new take, you'll get plenty more upvotes than downvotes overall.
        hndamien 8y ago
        Thanks for the tip. I certainly fail at this art since agreement and open ended question results in downvotes. I really can't get much softer when trying to open minds. I could improve my punctuation I guess.
- xapata 8y ago
  Fiat currency generally has some military, militia, or at least a police force and a tax payable in that currency. Gold is somewhat similar historically, though has been abandoned for that purpose in recent decades.
Goladus 8y ago
There is. The Schemer is Satoshi Nakamoto and anyone else involved with bitcoin's initial creation. They stand to profit handily by selling off their coins at many times their original, minimal value. But unlike a ponzi scheme or pyramid scheme, one can't trace fraudulent transactions directly to the schemers. It doesn't mean that it not a scheme. Bitcoin isn't just a fad, it was clearly designed to enrich the original founders and early adopters at the expense of whoever is left holding the bag when the bubble bursts.
inersha 8y ago
When does it stop being a fad?
- pxtail 8y ago
  When it wins and/or is popular enough to dictate rules and write it's own history.

It certainly does seem to be a "scheme" but I wonder how it compares to other fiat or gold currency when looked at through a "scheme" lens.

hndamien 8y ago
Down votes, no comment. Par for the course here.
- dang 8y ago
  Please don't break the site guidelines. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - hndamien 8y ago
    “Please don't comment about the voting on comments. It never does any good, and it makes boring reading.” Thanks, I actually had no idea about this one, and nobody ever bothered to point it out to me. I do find it disheartening though that anything against the grain in this forum often results in downvote and no comment. That said, this will be my final mention of the issue and I’ll just eat the negative karma from here rather than self censor (except on the issue as per the guideline).
    - tomhoward 8y ago
      There is an art (that applies here and elsewhere) to phrasing comments/opinions that might go against the grain, in such a way that people appreciate being educated/enlightened or given the chance to think about an old topic in a new way. Of course on every topic there will be some people who don't want to rethink their position, but you shouldn't worry about them (though accept that their downvotes are inevitable). But if you craft your answers for people who might not yet agree with your position but are open to considering a new take, you'll get plenty more upvotes than downvotes overall.
      - hndamien 8y ago
        Thanks for the tip. I certainly fail at this art since agreement and open ended question results in downvotes. I really can't get much softer when trying to open minds. I could improve my punctuation I guess.
xapata 8y ago
Fiat currency generally has some military, militia, or at least a police force and a tax payable in that currency. Gold is somewhat similar historically, though has been abandoned for that purpose in recent decades.

Goladus 8y ago

There is. The Schemer is Satoshi Nakamoto and anyone else involved with bitcoin's initial creation. They stand to profit handily by selling off their coins at many times their original, minimal value. But unlike a ponzi scheme or pyramid scheme, one can't trace fraudulent transactions directly to the schemers. It doesn't mean that it not a scheme. Bitcoin isn't just a fad, it was clearly designed to enrich the original founders and early adopters at the expense of whoever is left holding the bag when the bubble bursts.

inersha 8y ago

When does it stop being a fad?

pxtail 8y ago
When it wins and/or is popular enough to dictate rules and write it's own history.