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I'm not sure if you're defending bitcoin or comparing people buying it to crazed beanie baby collectors. At least, nobody was talking about a beanie baby based
by scoopertrooper 6y ago
I'm not sure if you're defending bitcoin or comparing people buying it to crazed beanie baby collectors. At least, nobody was talking about a beanie baby based financial system at the time - however adorable it may have been.
- bawolff 6y agoI don't think bitcoin should be entirely dismissed as a scam (its more complex than that), but if we're going to compare it to a scam (and there are definitely plenty of scammers in the bitcoin ecosystem), i think its important to remember that neither scams nor speculative bubbles are new to human history.
- scoopertrooper 6y agoThe important innovation of Bitcoin (and the like) was that it democratised the ability to scam. A band of techno-utopians created a technology (ideology?) that made it much easier and cheaper to empty the pockets of the gullible.