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Interesting, this sounds like the Old West. Look at it now. I think these hardships are the exact indicators of a dynamic new frontier. Apply caution, yes, but

Interesting, this sounds like the Old West. Look at it now. I think these hardships are the exact indicators of a dynamic new frontier. Apply caution, yes, but ignoring it might not be a good strategy either.

mknze 4y ago
Great analogy.
- sshine 4y ago
  Yes! Especially considering Bitcoin is built with the property of scarcity to mimic gold. :-)
apeace 4y ago
Your analogy is fair, but I'm not sure it works in the way you want it to. Cryptocurrency now exhibits a lot of the same issues that the Old West exhibited then (lawlessness, criminality, etc). But the Old West didn't result in some free-market hard-currency utopia. Eventually the powers that be brought in the same regulations, police, courts, etc that governed everything else. So that "Old West" was destroyed. In your analogy, that would be the "status quo financial system" taking over crypto and either outlawing it or changing it beyond all recognition. > I for one, take this perceived negative bias as a confirmation that Bitcoin is a genuine threat to the existing financial system. I think you are taking things the wrong way. I, too, dislike our current financial system and want it to radically change. And I, too, hope that cryptocurrency can play a part in that. Your assumption that others feel "threatened" by cryptocurrency just because they point out the negatives isn't a good one. They are just being reasonable and fair. > Am I just a dumb ass? No, but be careful of becoming a shill for crypto. Don't slide down the slippery slope of ignoring things that are bad -- or claiming that they aren't -- just because crypto may align with some of your values and beliefs. I'm not saying you are. But the wording of your original post leaves one to wonder whether you value your vision of a utopian financial system above the very real tragedies occurring every day in crypto. You can both love crypto and hate those tragedies.

mknze 4y ago

Great analogy.

sshine 4y ago
Yes! Especially considering Bitcoin is built with the property of scarcity to mimic gold. :-)

apeace 4y ago

Your analogy is fair, but I'm not sure it works in the way you want it to. Cryptocurrency now exhibits a lot of the same issues that the Old West exhibited then (lawlessness, criminality, etc). But the Old West didn't result in some free-market hard-currency utopia. Eventually the powers that be brought in the same regulations, police, courts, etc that governed everything else. So that "Old West" was destroyed. In your analogy, that would be the "status quo financial system" taking over crypto and either outlawing it or changing it beyond all recognition. > I for one, take this perceived negative bias as a confirmation that Bitcoin is a genuine threat to the existing financial system. I think you are taking things the wrong way. I, too, dislike our current financial system and want it to radically change. And I, too, hope that cryptocurrency can play a part in that. Your assumption that others feel "threatened" by cryptocurrency just because they point out the negatives isn't a good one. They are just being reasonable and fair. > Am I just a dumb ass? No, but be careful of becoming a shill for crypto. Don't slide down the slippery slope of ignoring things that are bad -- or claiming that they aren't -- just because crypto may align with some of your values and beliefs. I'm not saying you are. But the wording of your original post leaves one to wonder whether you value your vision of a utopian financial system above the very real tragedies occurring every day in crypto. You can both love crypto and hate those tragedies.