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What would have to happen for you to change your mind ? What if bitcoin passes gold in market cap ? What if central banks start holding bitcoin like they hold

What would have to happen for you to change your mind ? What if bitcoin passes gold in market cap ? What if central banks start holding bitcoin like they hold gold rn? What if a future Nobel winning economist says something nice about bitcoin ? Or is it impossible for any new information to change your mind on this ?

arcticbull 6y ago
Popularity != sanity, and popularity != value, and popularity != efficiency. See: beanie babies, furbies, tulips, leaded gasoline, leaded paint, the rise of fascism in Europe in the 1900s and so on. A lot of people using something doesn’t make it at all valuable, efficient, effective or good — anything, really. It has to do that on its own merits. You can’t escape the fundamental economics here. It’s bad. Rather it’s great at separating people from their money, and allowing the trafficking of illicit narcotics and money laundering. [edit] let’s look at it the other way. Why isn’t the popularity of the dollar enough to convince you the dollar is better? Who would have to adopt the dollar to change your mind?
- naveen99 6y ago
  You are right, dollar is still better for facilitating most illegal behavior. I like the dollar. I’ll tell you what would convince me bitcoin is bad: discovery of a bug that allows double spending retrospectively and someone corrupts the entire ledger to date. China taking over and re-educating me it’s bad. God addending the Old Testament or the Koran that it’s bad.
ChrisLomont 6y ago
>What would have to happen for you to change your mind ? It's not about changing minds - it's about evidence. There's ample evidence BTC is simply repeating the flaws of discarded money systems, and they were discarded because they are terrible. Unless BTC addresses these flaws there is little sense in painting a pig. Mankind has learned that a money system that cannot adjust to shocks is a terrible idea. So first BTC needs this ability, which would make it not BTC. If it cannot at least meet minimum requirements, then it fails. You might as well argue we should trade tulip bulbs as currency if you're going to ignore modern evidence. The real question is why do you clutch BTC given centuries of evidence and widespread professional opinion that it fails at the things a money system needs to be modern? Why do you insist on repeating flaws that have been conclusively demonstrated to fail? I gave you ample phrases to google and learn from. If you still claim BTC is somehow immune from all its flaws that is your choice.
- naveen99 6y ago
  So, no Plausible scenario Of new evidence for you to change your mind then ?

arcticbull 6y ago

Popularity != sanity, and popularity != value, and popularity != efficiency. See: beanie babies, furbies, tulips, leaded gasoline, leaded paint, the rise of fascism in Europe in the 1900s and so on. A lot of people using something doesn’t make it at all valuable, efficient, effective or good — anything, really. It has to do that on its own merits. You can’t escape the fundamental economics here. It’s bad. Rather it’s great at separating people from their money, and allowing the trafficking of illicit narcotics and money laundering. [edit] let’s look at it the other way. Why isn’t the popularity of the dollar enough to convince you the dollar is better? Who would have to adopt the dollar to change your mind?

naveen99 6y ago
You are right, dollar is still better for facilitating most illegal behavior. I like the dollar. I’ll tell you what would convince me bitcoin is bad: discovery of a bug that allows double spending retrospectively and someone corrupts the entire ledger to date. China taking over and re-educating me it’s bad. God addending the Old Testament or the Koran that it’s bad.

ChrisLomont 6y ago

>What would have to happen for you to change your mind ? It's not about changing minds - it's about evidence. There's ample evidence BTC is simply repeating the flaws of discarded money systems, and they were discarded because they are terrible. Unless BTC addresses these flaws there is little sense in painting a pig. Mankind has learned that a money system that cannot adjust to shocks is a terrible idea. So first BTC needs this ability, which would make it not BTC. If it cannot at least meet minimum requirements, then it fails. You might as well argue we should trade tulip bulbs as currency if you're going to ignore modern evidence. The real question is why do you clutch BTC given centuries of evidence and widespread professional opinion that it fails at the things a money system needs to be modern? Why do you insist on repeating flaws that have been conclusively demonstrated to fail? I gave you ample phrases to google and learn from. If you still claim BTC is somehow immune from all its flaws that is your choice.

naveen99 6y ago
So, no Plausible scenario Of new evidence for you to change your mind then ?