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You're discounting the whole problem the bitcoin solves because of speculating. Since dawn of time there have been only 2 types of money, token and ledger. Bitc

You're discounting the whole problem the bitcoin solves because of speculating. Since dawn of time there have been only 2 types of money, token and ledger. Bitcoin came around and created a third type of money and the genius of it is to do that it had to create a new concept of time. That's the cool part that the article goes in depth about. I'm sorry but it's hard for me to believe that anyone who read that article can go back to "speculation" arguments.

danShumway 6y ago
There are tons of coins that do what Bitcoin is doing, except better. They also create their own concept of time. They handle distributed anonymity better, they integrate very clever concepts like zero-knowledge proofs and proof of stake. Bitcoin does not have a monopoly on the concept of a distributed ledger or any of the other concepts that are actually interesting about blockchain technology. But Bitcoin is particularly bad at everything surrounding the concept of a distributed ledger. In fact, it is set up in such a way as to make working with its distributed ledger more difficult than it needs to be. It was an interesting first pass at this technology, but it has been very clearly surpassed by other coins in pretty much every single way. So the question is, given that Bitcoin is particularly bad at what it does, given that other cryptocurrencies are doing the same things that the article praises except better, why are people sticking with an outdated technology? I would posit that people who are really genuinely excited about concepts of "creating time" would be moving to better coins that are doing even more clever things than Bitcoin is, and the people who remain are largely remaining because they're interested in the speculation part and for them concepts like "first to market" are very important. But I don't see how anybody would ever say they prefer Bitcoin because of the technology. It's outdated.
- jakupovic 6y ago
  Going in circles here, first to market and good enough technology, that's all there is to it.

danShumway 6y ago

There are tons of coins that do what Bitcoin is doing, except better. They also create their own concept of time. They handle distributed anonymity better, they integrate very clever concepts like zero-knowledge proofs and proof of stake. Bitcoin does not have a monopoly on the concept of a distributed ledger or any of the other concepts that are actually interesting about blockchain technology. But Bitcoin is particularly bad at everything surrounding the concept of a distributed ledger. In fact, it is set up in such a way as to make working with its distributed ledger more difficult than it needs to be. It was an interesting first pass at this technology, but it has been very clearly surpassed by other coins in pretty much every single way. So the question is, given that Bitcoin is particularly bad at what it does, given that other cryptocurrencies are doing the same things that the article praises except better, why are people sticking with an outdated technology? I would posit that people who are really genuinely excited about concepts of "creating time" would be moving to better coins that are doing even more clever things than Bitcoin is, and the people who remain are largely remaining because they're interested in the speculation part and for them concepts like "first to market" are very important. But I don't see how anybody would ever say they prefer Bitcoin because of the technology. It's outdated.

jakupovic 6y ago
Going in circles here, first to market and good enough technology, that's all there is to it.