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"Bitcoin launched with the stated goal of providing an alternative financial system,2 and other blockchain projects followed with all manner of lavish promises.
by dvh1990 5y ago
"Bitcoin launched with the stated goal of providing an alternative financial system,2 and other blockchain projects followed with all manner of lavish promises. Bitcoin failed at the stated goal (unless you count the dark net markets). It has instead defaulted to pyramid scheme, with the added externality of wasting a stupefying amount of energy."
This is not true.
- robrorcroptrer 5y agoPlease elaborate.
- dvh1990 5y agoI am simply saying that it is early to tell if Bitcoin failed in any way. Is it subject to price manipulation? Of course. But that's the result of a free and mostly unregulated market, which is inherently a good thing because it fosters long term robustness at the price of short term stability. In other words, what Bitcoin may or may not be today does not define what it is going to be in 2, 5 or 10 years.