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Were you right? Only time will tell. I'd expect more humility from someone who just admitted to having been horribly wrong about webpages being a big hit... on
by blotter_paper 7y ago
Were you right? Only time will tell. I'd expect more humility from someone who just admitted to having been horribly wrong about webpages being a big hit... on a webpage.
- deleted 7y ago[deleted]
- phkahler 7y agoYes OP were right. Bitcoin could never scale to the point of being used for every transaction. Thats a different thing than realizing it would have a bubble with massive profit potential.
- blotter_paper 7y ago"Used for every transaction" is a high bar; I suppose USD and the gold dinar have both failed, oh well. If we used a more reasonable metric, like "will bitcoins being worth significantly more in ten years than they are today," OP may well be wrong. You can think I'm crazy for saying that, but neither of us can really know at the moment.
- okcando 7y agoUSD works as currency because it has a pretty stable and small rate of deflation, a property that the fed tries to maintain. It works to trade value and gives a subtle nudge to promote trading. Bitcoin had the mission statement of being a currency, which it has failed at. It's instead a highly volatile (and potentially highly profitable) investment. So someone could be right that Bitcoin would not succeed (at being a useful currency) and still have been wrong to not buy in (they should have gotten in when the getting was good for the very reason it would fail to be a currency). But it was and is more like gambling and less like "mattress money".
- Vadoff 7y agoNever heard about Lightning Network I guess?
- cbanek 7y ago"I can calculate the motion of heavenly bodies, but not the madness of people." - Isaac Newton on the South Sea Company Bubble.
- deleted 7y ago[deleted]