4 ms·
Everyone dismisses bitcoin. Its not that hes wrong, just that these feelings are not limited to some upper class, champagne swirlers. And the reason normal peo
by Gunax 6y ago
Everyone dismisses bitcoin. Its not that hes wrong, just that these feelings are not limited to some upper class, champagne swirlers.
And the reason normal people dismiss it are the same as the hedge fund guy: its impractical, fad like, no intrinsic value, associated with crime, and cryptos have unlimited supply.
- svachalek 6y agoSo, central bank fiat currency has intrinsic value, is crime proof, and has limited supply? Also, Bitcoin by default is terrible for criminal purposes unless you live somewhere where law enforcement can't reach you. It's a public ledger, anyone who knows your address can read your entire transaction history.
- Gunax 6y agoI am not really trying to stir the debate. I am just answering the title's question and saying that there is nothing novel about their opinions versus anyone elses. Its not really 'yuppie elites' versus 'everyone else' but more like 'conventional investors' versus 'crypto enthusiasts'.
- tablespoon 6y ago> So, central bank fiat currency has intrinsic value, is crime proof, and has limited supply? Central bank fiat currency is as close to having intrinsic value as anything, because you must use it (to pay taxes, at least). > Also, Bitcoin by default is terrible for criminal purposes unless you live somewhere where law enforcement can't reach you. He said it was associated with crime, not that it was good for it. I wouldn't be surprised if The Silk Road was the first use of cryptocurrency that wasn't a gimmick.