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> I think in 2012 the tech community's sentiment was actually that Bitcoin was really cool and definitely useful I don't think there was ever really a consensu

> I think in 2012 the tech community's sentiment was actually that Bitcoin was really cool and definitely useful I don't think there was ever really a consensus on this. Lots of people (myself included, but also quite a few friends) always thought Bitcoin was just kinda useless. It's just that in 2012 there were comparatively low stakes (i.e. no massive energy use, not yet massive amounts of people pouring money in it, no massive amounts of "crypto snakeoil") that it just wasn't worth commenting on.

billiam 5y ago
Not totally useless. Some of us imagined it would keep some annoying people busy for a while. Seriously, what will we think about it 5 years from now?
- nso 5y ago
  My bet and hope is "good riddance"
chaxor 5y ago
I find this exceedingly hard to believe. Around 2009-2010, btc was definitelynot an "asset" (like the bafoons try to treat it now). It *was a currency*. Many still believe in the idea that (certain, less well know) crypto can be used as a real currency, but unfortunately the public severely tainted it with ideas of 'being an asset'. This comment reads as someone who is more aligned with the public's (HN) perception of modern crypto, rather than the use of it pre-2010.
- Beltalowda 5y ago
  Okay, sure, but I don't see how this relates to the fact there was never consensus or broad agreement on Bitcoin in the tech community in general?
- thayne 5y ago
  I understand what you're trying to say, but I'm really curious about how you define "asset" to not include currency.
  - thanksgiving 5y ago
    I think the idea of “hodl” bitcoin wasn’t there. One thing that changed in my perspective is that bitcoin transactions were always destined to be more expensive than I had dreamed. In my mind, I thought transactions would be fast and free of cost. In reality, there are reportedly fewer than ten thousand full nodes. Everyone thinks of bitcoin in terms of “how many USD is it?” I don’t know what the solution is but as long as we think of bitcoin as a perverted asset like housing - apparently people once again believe we will not allow housing prices to fall to any significant degree - there is no reason to use bitcoin as a currency. With so much speculation, the price is too volatile. I don’t know what the solution is but I believe transaction costs should be minimal if not zero. I don’t know how we will achieve this but apparently there are other projects that try to get much closer to zero transaction fees. I think that is the future

billiam 5y ago

Not totally useless. Some of us imagined it would keep some annoying people busy for a while. Seriously, what will we think about it 5 years from now?

nso 5y ago
My bet and hope is "good riddance"

chaxor 5y ago

I find this exceedingly hard to believe. Around 2009-2010, btc was definitelynot an "asset" (like the bafoons try to treat it now). It *was a currency*. Many still believe in the idea that (certain, less well know) crypto can be used as a real currency, but unfortunately the public severely tainted it with ideas of 'being an asset'. This comment reads as someone who is more aligned with the public's (HN) perception of modern crypto, rather than the use of it pre-2010.

Beltalowda 5y ago
Okay, sure, but I don't see how this relates to the fact there was never consensus or broad agreement on Bitcoin in the tech community in general?
thayne 5y ago
I understand what you're trying to say, but I'm really curious about how you define "asset" to not include currency.
- thanksgiving 5y ago
  I think the idea of “hodl” bitcoin wasn’t there. One thing that changed in my perspective is that bitcoin transactions were always destined to be more expensive than I had dreamed. In my mind, I thought transactions would be fast and free of cost. In reality, there are reportedly fewer than ten thousand full nodes. Everyone thinks of bitcoin in terms of “how many USD is it?” I don’t know what the solution is but as long as we think of bitcoin as a perverted asset like housing - apparently people once again believe we will not allow housing prices to fall to any significant degree - there is no reason to use bitcoin as a currency. With so much speculation, the price is too volatile. I don’t know what the solution is but I believe transaction costs should be minimal if not zero. I don’t know how we will achieve this but apparently there are other projects that try to get much closer to zero transaction fees. I think that is the future