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Bitcoin ‘may not last that much longer,’ academic warns

21 points by breckenedge 5y ago

gjsman-1000 5y ago
Cry me a river, academics have said that for pretty much every year since 2011.
- tech-historian 5y ago
  Exactly. I don't have a horse in the race, but every time Bitcoin was down, it seemed to somehow emerge stronger later on.
  - weare138 5y ago
    Did you all read the article?
    - benmarks 5y ago
      Always a fair question, but I don't see how that applies to his point one way or the other. There's an ounce of meat AT BEST in this article.
    - tech-historian 5y ago
      I did. It was pretty superficial.
aeternum 5y ago
If academics were skilled at finance, they wouldn't choose to remain academics.
- willis936 5y ago
  Money isn't everything.
  - errantmind 5y ago
    It isn't, but I put very little weight behind academic pronouncements about financial markets. If they know what they are talking about, they would make money trading (even while remaining an academic) and have something to show for it.
ur-whale 5y ago
OP made it to the top: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/
jdhn 5y ago
So I’m supposed to believe that bitcoin is doomed because it’s environmentally unfriendly, the price is falling, and that there’s hundreds of competitors? These are all things bitcoin have faced before, and will continue to face.
- timothyduong 5y ago
  - environmentally unfriendly - price is falling (or inversely more expensive) - hundreds of competitors Insert: coal Takes time for the status quo to adopt and learn. That being said I don’t think that it’s going to be a bear market for btc, I don’t foresee BTC being big in 10 years, but 10 years is far from now…
  - jdhn 5y ago
    If bitcoin is coal, then what's the crypto equivalent of fracking? The reason I say fracking is because that's what really made natural gas the preferred fossil fuel electricity provider (concerns about carbon dioxide helped, but aren't the primary reason).
    - kman82 5y ago
      Sol
    - tata71 5y ago
      LRC
jaclaz 5y ago
It seems to me like there is a twist in this article (actully very, very light on details) but it seems to say that it will fail not because the whole cryptocoin world will fail, but rather because "better" cryptocoins were created and specifically Bitcoin is "inferior" to some alternative ones.
_robbywashere 5y ago
Bitcoin is software. Software is unchanging and can never be upgraded.
danlugo92 5y ago
https://www.endthefud.org https://www.endthefud.org

21 points by breckenedge 5y ago

gjsman-1000 5y ago

Cry me a river, academics have said that for pretty much every year since 2011.

tech-historian 5y ago
Exactly. I don't have a horse in the race, but every time Bitcoin was down, it seemed to somehow emerge stronger later on.
- weare138 5y ago
  Did you all read the article?
  - benmarks 5y ago
    Always a fair question, but I don't see how that applies to his point one way or the other. There's an ounce of meat AT BEST in this article.
  - tech-historian 5y ago
    I did. It was pretty superficial.

aeternum 5y ago

If academics were skilled at finance, they wouldn't choose to remain academics.

willis936 5y ago
Money isn't everything.
- errantmind 5y ago
  It isn't, but I put very little weight behind academic pronouncements about financial markets. If they know what they are talking about, they would make money trading (even while remaining an academic) and have something to show for it.

ur-whale 5y ago

OP made it to the top: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/

jdhn 5y ago

So I’m supposed to believe that bitcoin is doomed because it’s environmentally unfriendly, the price is falling, and that there’s hundreds of competitors? These are all things bitcoin have faced before, and will continue to face.

timothyduong 5y ago
- environmentally unfriendly - price is falling (or inversely more expensive) - hundreds of competitors Insert: coal Takes time for the status quo to adopt and learn. That being said I don’t think that it’s going to be a bear market for btc, I don’t foresee BTC being big in 10 years, but 10 years is far from now…
- jdhn 5y ago
  If bitcoin is coal, then what's the crypto equivalent of fracking? The reason I say fracking is because that's what really made natural gas the preferred fossil fuel electricity provider (concerns about carbon dioxide helped, but aren't the primary reason).
  - kman82 5y ago
    Sol
  - tata71 5y ago
    LRC

jaclaz 5y ago

It seems to me like there is a twist in this article (actully very, very light on details) but it seems to say that it will fail not because the whole cryptocoin world will fail, but rather because "better" cryptocoins were created and specifically Bitcoin is "inferior" to some alternative ones.

_robbywashere 5y ago

Bitcoin is software. Software is unchanging and can never be upgraded.

danlugo92 5y ago

https://www.endthefud.org https://www.endthefud.org