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Computer scientists have proven themselves capable of going into completely unrelated areas (advertising, video, audio, hotels, taxis, airplanes, and most notab
by temphn 14y ago
Computer scientists have proven themselves capable of going into completely unrelated areas (advertising, video, audio, hotels, taxis, airplanes, and most notably payments) and completely disrupting the status quo of the "experts".
And those experts were at least operating profitable legacy businesses, so had _some_ empirical proof of their claims (to wit: their products worked, even if not as well as the Valley's).
Now, lo and behold, we have a direct test of open source software vs. Krugmanesque proclamations. Krugman is simply not qualified to evaluate Bitcoin. You think he knows SHA-256 from a hole in the ground? He'll say it won't work just like legacy payment providers thought Paypal wouldn't work. And then he'll start advocating that it be prosecuted once it does threaten him, and then he will lose.
- haberman 14y agoYou are exhibiting a selective memory that only remembers the successes. Investors in the late 90s pumped money into "computer scientists" only to find that just because something is being done on the Internet doesn't make it automatically profitable. You look at Bitcoin and think it is so obviously Amazon.com, but it could just as easily be Pets.com.