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A given piece of technology is a tool, not a cult. My biggest red flag for bitcoin is the obsessive behavior of the people who are into it. You said it yourself
by kaikai 6y ago
A given piece of technology is a tool, not a cult. My biggest red flag for bitcoin is the obsessive behavior of the people who are into it. You said it yourself in your reply- you hear arguments against it but just “can’t grasp” them, and then try to denigrate the people saying them by comparing them to an elderly relative.
Here’s some reasons I’m not into bitcoin:
- environmental impact, as stated by another commentator.
- lack of anonymity. Every transaction is public, as demonstrated by some large transactions hitting the front page of hacker news
- wild speculation about value making it into a pyramid scheme. I have multiple friends who “got rich” because they got in early. That’s not how people think of normal currencies.
- difficulty of use. You can’t hand some bitcoin over to a snack seller on the street and get a snack. Most people use exchanges with fees, transactions take time to get verified, and the barrier to entry at all is high. Screw it up, maybe lose all your money.
- shadiness. How many exchanges have gone under? Enough.
- “put it on the blockchain.” Omfg there are so many companies just “putting it on the blockchain” for what, to look hotnenough to get funding? I don’t know. Medical records, voting, none of that should be public. But people have a shiny new hammer and now they only see nails.
I do think it’s a great experiment, and a lot of the concepts are super cool. I don’t think bitcoin in its current incarnation is interesting in and of itself.
Edit to add: old people can solid technologists and smart, too. Young people can be idiots. Not all techies are guys. I’d trust the opinion of someone who’s seen more things come and go.