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Bitcoin is an example of this already played out. News cycle perpetuates bitcoin == bad so everyone you know just repeats "scam" and points to criminals. Mean

Bitcoin is an example of this already played out. News cycle perpetuates bitcoin == bad so everyone you know just repeats "scam" and points to criminals. Meanwhile the largest institutions and richest people are investing heavily due to its revolutionary nature. Just look at all the ETFs coming out (Blackrock, Fidelity, etc). Once they are fully setup you'll see the news cycle change sentiment. Rinse, repeat, with any technology.

re-thc 3y ago
> Meanwhile the largest institutions and richest people are investing heavily due to its revolutionary nature. Is that why are they investing? Do investors care if it's revolutionary or that they just get high returns? E.g. a lot of "coins" have promised high returns that were obviously not sustainable.
- staplers 3y ago
  Feel free to reply what makes bitcoin bad in a way any different from other high tech.
  - r_hoods_ghost 3y ago
    Not the patent but... incredibly environmentally destructive by design. Utterly privacy violating as you're publishing every transaction you make for the world to see on a public ledger so now your neighbour (and government) get to know about your badger fetish. Non reversible transactions are an invitation to fraud and theft and make routine errors like overpayments and payments to the wrong address potentially disastrous. Not to mention the "problems" it claims to fix like instant, fee free transactions and easy international transfers have been fixed for many years in countries with modern banking systems (i.e. not the USA) Etc. Etc. Etc.
worik 3y ago
Just because "they" say it's bad, does not make it good Bitcoin is bad. Even a broken clock is right twice a day....
- onion2k 3y ago
  Even a broken clock is right twice a day... That would depend on how it's broken.
  - worik 3y ago
    ...hmmm A broken clock can be right twice a day
- staplers 3y ago
  Feel free to reply what makes bitcoin bad in a way any different from other high tech.
  - worik 3y ago
    It is too volatile to be a useful store of value Transaction costs are too high to be useful medium of exchange The waste it generates, as its central operation to have artificial scarcity is definitely bad. Bitcoin is very bad
  - thefurdrake 3y ago
    Outcome.
andybak 3y ago
Nice try.
- staplers 3y ago
  Feel free to reply what makes bitcoin bad in a way any different from other high tech.

re-thc 3y ago

> Meanwhile the largest institutions and richest people are investing heavily due to its revolutionary nature. Is that why are they investing? Do investors care if it's revolutionary or that they just get high returns? E.g. a lot of "coins" have promised high returns that were obviously not sustainable.

staplers 3y ago
Feel free to reply what makes bitcoin bad in a way any different from other high tech.
- r_hoods_ghost 3y ago
  Not the patent but... incredibly environmentally destructive by design. Utterly privacy violating as you're publishing every transaction you make for the world to see on a public ledger so now your neighbour (and government) get to know about your badger fetish. Non reversible transactions are an invitation to fraud and theft and make routine errors like overpayments and payments to the wrong address potentially disastrous. Not to mention the "problems" it claims to fix like instant, fee free transactions and easy international transfers have been fixed for many years in countries with modern banking systems (i.e. not the USA) Etc. Etc. Etc.

worik 3y ago

Just because "they" say it's bad, does not make it good Bitcoin is bad. Even a broken clock is right twice a day....

onion2k 3y ago
Even a broken clock is right twice a day... That would depend on how it's broken.
- worik 3y ago
  ...hmmm A broken clock can be right twice a day
staplers 3y ago
Feel free to reply what makes bitcoin bad in a way any different from other high tech.
- worik 3y ago
  It is too volatile to be a useful store of value Transaction costs are too high to be useful medium of exchange The waste it generates, as its central operation to have artificial scarcity is definitely bad. Bitcoin is very bad
- thefurdrake 3y ago
  Outcome.

andybak 3y ago

Nice try.

staplers 3y ago
Feel free to reply what makes bitcoin bad in a way any different from other high tech.