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His arguments for investing in it in 2011 made sense but in 2020 they no longer do. - Past performance has plateaued for years. - Use cases are niche instead

His arguments for investing in it in 2011 made sense but in 2020 they no longer do. - Past performance has plateaued for years. - Use cases are niche instead of regular transactions. - Since the use cases are niche there is few uptake drivers.

paulpauper 6y ago
goes to show how being early is so important for being successful .
- pcdoodle 6y ago
  You know it's up 2% today? You know it has doubled since the bottom this year? Early my ass.
  - AznHisoka 6y ago
    Cherry picking much? Returns for anything looks awesome if you are comparing it to its bottom. BTC is up 15% this year which is good but nothing to shout about.
300bps 6y ago
He also in the article nudged people into using MtGox to buy BTC which doesn’t make much sense in hindsight either. https://en.m.wikipedia.org/wiki/Mt._Gox https://en.m.wikipedia.org/wiki/Mt._Gox
- redog 6y ago
  There was nothing inherently wrong with Mt. Gox as a place to buy BTC. It was trading it and storing it on Gox that got you burned. I lost 0.6 BTC because I was planning on margin trading some but that was only a fraction of my holdings at the time.
  - Bang2Bay 6y ago
    what happened to the lost money? it was worth 450 M bucks then. probably a lot more today. was it ever recovered by end users?
jhoechtl 6y ago
The use case of gold is niche too. Still a worthwhile investment. It's all about trust.
shawnz 6y ago
Past performance is never a sensible argument for investing