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The failure, nay the pigheaded refusal, to learn from history. BitCoin is faux money and will likely be recorded as the "Dutch Tulip Bubble" [0] of our times.
by shiven 12y ago
The failure, nay the pigheaded refusal, to learn from history.
BitCoin is faux money and will likely be recorded as the "Dutch Tulip Bubble" [0] of our times.
Intentions and wishful thinking alone are not enough to create revolutions. Crises are invariably required to change such fundamental concepts as value of currency in the public's mind, and it has to happen on a massive scale in a tiny span of time. BitCoin will be no more than the butt of jokes in another decade unless it finds it's destiny in a crisis made for it to shine.
[0] http://en.m.wikipedia.org/wiki/Tulip_mania http://en.m.wikipedia.org/wiki/Tulip_mania
- wyager 12y agoYou haven't actually mentioned any economic principles; you've just compared Bitcoin to a historical bubble (of which there were certainly many) without any evidence supporting this comparison. >BitCoin is faux money Could you expand on this? How do you define "faux" money?
- ougawouga 12y agoOK, you're making 2 different claims. The first claim is that Bitoiners refuse to learn from history. But the second claim is that crises are required for revolutionary change (history says, I presume). So how are Bitcoiners refusing to learn from history? By trying in the first place? Or by failing to manufacture a crisis? And really, linking to the wikipedia page of tulip mania, as if we haven't heard that trope 10,000 times?