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It's really not fair to dig these things up and call people haters for doubting it. I bet the list of failed companies and "haters" who called it accurately is
by vinhboy 13y ago
It's really not fair to dig these things up and call people haters for doubting it.
I bet the list of failed companies and "haters" who called it accurately is much much bigger.
Although I do like the nostalgic value of these posts.
- Sambdala 13y agoIt's really easy to be right >90% of the time, if 100% of the time you predict a new technology will fail.
- Luc 13y agoThere's hedge funds that systematically short biotech companies, since they estimate most of them will fail. Reasoning with them about the merits of the company doesn't work, they just admit it's a matter of statistics.
- herge 13y agoNo, it's just a question of selling them these shorts and greatfully profiting from it when the merits of the company pan out on the market.
- xixi77 13y agoAssuming that "most of them would fail" has little to do with this investment strategy being good or bad. Venture capitalists also assume that most of the companies they fund would fail. What the hedge funds you are talking about assume is that investors in biotech companies value them more than they are worth. It may sound similar to what you said, but really is a very different assumption.
- deleted 13y ago[deleted]
- crassus 13y agoBitcoin could revolutionize the foundation of the world's economy with a piece of software some guy wrote in a few months. You'd figure that would be the kind of thing that hackers would get excited about, as opposed to social-sharing startups (which are just a replacement for reality TV)
- redblacktree 13y agoI think it's just that most folks can't yet imagine that Bitcoin is really going to revolutionize anything. For now, it's interesting speculation. It's really hard to see, for example, getting paid in BTC, or buying gas in BTC.
- fragsworth 13y agoBut I think it's easy to see paying for something in USD, and using BTC as the means of transfer. Customer USD -> Customer BTC -> transfer -> Vendor BTC -> Vendor USD
- Nursie 13y agoYay! 3 layers of fees!
- vbuterin 13y agoCustomer USD -> Customer BTC: 1% + $0.15 (Coinbase) Customer BTC -> Merchant BTC: $0.06 (transaction fees, currently abnormally high due to price spike) Merchant BTC -> Merchant USD: 0.99% (Bitpay) Total: 1.99% + $0.24 Compare: credit cards and Paypal (2.9% + $0.30) So even there it works out fine.
- Nursie 13y agoIt's hardly the fee-free utopia though is it? And I can already transfer to other individuals for no charge.
- Tuna-Fish 13y agoThe mere possibility of doing it is much more important than the lack of fees. > And I can already transfer to other individuals for no charge. Within your own country/a few other countries like it. Transferring money across borders, especially outside the west is quite a bit harder than you'd think.