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“Only the people making this bet will be affected if Bitcoin fails” Which means that it’s just a gamble of some insiders.
by Ididntdothis 7y ago
“Only the people making this bet will be affected if Bitcoin fails”
Which means that it’s just a gamble of some insiders.
- unhashable 7y agoDoes it feel like I’m arguing that point? I’m not. Speculation is by definition gambling. Investing is also speculation. You have a thesis, and you make returns if that plays out. You lose capital when you are wrong. Also, I'm not sure what you mean by "insiders" - most of the world can purchase Bitcoin, the software is OSS, the network inspectable, and the evolving thesis and narrative is fully available online. Bitcoin is the people's money.
- tamasnet 7y agoWhether or not I agree with your position, I'll give you mad props for sustained and well-reasoned argument.
- arcticbull 7y agoBitcoin may be the people's money but it's price in fiat is controlled by shady cabals like Bitfinex/Tether. It may be the people's money but it certainly isn't the people's value. Dividing those two is a worthwhile exercise. Hiding behind the networks inspectability minimizes all the shady participants that the open network provides for.