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Bitcoin is here to stay. You're mixing up shitcoins and other ponzi-like schemes. As with any new & emerging technology, blockchain ecosystem hosts various (in
by rsrx 4y ago
Bitcoin is here to stay. You're mixing up shitcoins and other ponzi-like schemes.
As with any new & emerging technology, blockchain ecosystem hosts various (intentional or unintentional) FUD and malicious coins that are backed by nothing and often run in a ponzi scheme manner. These coins will eventually crash and disappear.
Bitcoin's intrinsic values are similar to other asset classes, plus, its also decentralized and censorship resistant.
- anon2020dot00 4y agoNothing wrong with Bitcoin itself but the rampant speculation is what draws the proponents and critics alike. If Bitcoin just worked like a peer-to-peer neutral currency and had no speculative element, most people would have no issue with it. The annoying element is when it is used as a get-rich quick pyramid scheme.
- rsrx 4y agoI'm really curious why that annoys you? As I mentioned earlier, almost any emerging technology will go through period of instability, and with bitcoin and its speculative nature this is certainly the case. And there are people that are ready to ride that wave.