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Ok, so everybody can make a currency, keep some for them (directly or indirectly), convince people to use it, making it scarce and making the value of it grow.

Ok, so everybody can make a currency, keep some for them (directly or indirectly), convince people to use it, making it scarce and making the value of it grow. Great idea! How couldn't we think about it before! Let's start with a small group (technical people, in case of cryptocurrencies) that are idealists and full of goodwill. Then we'll pack the idea as the world's salvation from stupid governments and fees. Don't be evil! Meanwhile my (fat) share of myCurrency is getting value exponentially.

quinndupont 12y ago
Far from being opposed to the article's articulation of cryptocurrencies, I see your (sarcastic) response as buying into the very logic of it. Thinking that the problem with Bitcoin and its ilk is its lack of economic stability, liquidity, or whatever economic factor floats your boat is tantamount to endorsing a future version that fixes the issue. You see, you've been trapped into the short-sighted vision that the RIGHT cryptocurrency is just a patch or version away. The issues with cryptocurrencies are much deeper than implementation errors. I may actually agree with your economic assessment of Bitcoin, but I think that's quite beside the point, and we should learn to speak about the deeper issues and debate these.