2012-08-09 uproxx.com 'This Is What’s Really Going To Happen To Bitcoin'

TraderTimm

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Quote from: Roger_Murdock on August 11, 2012, 03:50:12 PM

This is the same guy who previously wrote:

Quote

The problem is that Bitcoin is backed by, well, nothing. It basically runs on clapping your hands and believing, which makes it incredibly volatile, as enthusiasts are learning the hard way. Once it becomes too hard to mine blocks, people will simply stop caring and move on to some other fad, and Bitcoins will become worthless.

http://www.uproxx.com/webculture/2012/05/the-fbi-is-terrified-of-nerd-fad-bitcoin/#ixzz23GjBNNzW

He's more accurately describing Facebook post-IPO, haha. "People will simply stop caring and move on to some other fad."

Yeah, with their stock knocking on yearly lows it sure looks that way. So many people got fleeced in that one. I remember someone saying they'd buy on the day of the IPO in a local Chicago newspaper. The amount quoted was about $10,000.

cypherdoc

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Quote from: caveden on August 14, 2012, 04:48:24 AM

Quote from: nevafuse on August 09, 2012, 04:01:17 PM

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

This piece is hilarious!
It's just amazing that pretty much everything he mocks as "unbelievable bullshit" became a reality some years after... Cheesy

Great find. This guys more stupid than he looks. And he still uses the term "cyber".

caveden

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Quote from: nevafuse on August 09, 2012, 04:01:17 PM

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

This piece is hilarious!
It's just amazing that pretty much everything he mocks as "unbelievable bullshit" became a reality some years after... Cheesy

ElectricMucus

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Marketing manager - GO MP

I was really expecting something more.

If there were something about crowd psychology and how certain things are abandoned quickly I would recognize it as an argument. Not saying that bitcoin is such a thing but it would be at least consistent with the claim that "Bitcoin is a fad."
But "breaking" it? orly?

This guy at least should have done the research to understand the technical concepts enough.
Disappointing to say the least.

Roger_Murdock

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This is the same guy who previously wrote:

Quote

The problem is that Bitcoin is backed by, well, nothing. It basically runs on clapping your hands and believing, which makes it incredibly volatile, as enthusiasts are learning the hard way. Once it becomes too hard to mine blocks, people will simply stop caring and move on to some other fad, and Bitcoins will become worthless.

http://www.uproxx.com/webculture/2012/05/the-fbi-is-terrified-of-nerd-fad-bitcoin/#ixzz23GjBNNzW

cypherdoc

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no facts, just opinion.

TraderTimm

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This is why I know bitcoin will succeed. Because the idiots are confused and don't know how to categorize it, analyze it, or even come up with anything that is unique. Most of their arguments are something you can use against cash, or they simply display their ignorance of how the banking system works, and who is getting ripped off by using it.

Boussac

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e-ducat.fr

This guy may go down in history as the writer of the most stupid, ill-informed piece of anti-bitcoin propaganda:

Quote

If you forge currency, the Secret Service is coming for your ass. You forge Bitcoins and… uh… a few Redditors will start a Scumbag Bitcoin Counterfeiter meme.

PawShaker

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Quantum computers have been vapourware for decades. However, should it eventuate, cryptography as we know it will be gone. Otherwise, the whole article is loughable. It starts with an assumption and then tries to find a rationalisation for it.

Gabi

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If you want to walk on water, get out of the boat

Wow, Clifford Stoll epic failed!

hazek

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Quote from: nevafuse on August 09, 2012, 04:01:17 PM

Quote from: n8rwJeTt8TrrLKPa55eU on August 09, 2012, 03:10:48 PM

Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Stoll got one thing right.

Quote

and no computer network will change the way government works.

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

Yeah but it might eliminate the idea of a government being desirable or needed..

nevafuse

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Quote from: n8rwJeTt8TrrLKPa55eU on August 09, 2012, 03:10:48 PM

Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Stoll got one thing right.

Quote

and no computer network will change the way government works.

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

n8rwJeTt8TrrLKPa55eU

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Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Internet will be a fad, Claimed Scientist in '95
http://minnesota.publicradio.org/collections/special/columns/news_cut/archive/2012/02/the_internet_futurist_who_thou.shtml

hazek

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Quote from: jwzguy on August 09, 2012, 12:23:35 PM

That guy's hilarious. I wonder if he'll ever realize how dumb his statements are or will he just be shaking his head as BTC continues to go up?

Some people just need to learn the hard way.. Cheesy

jwzguy

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That guy's hilarious. I wonder if he'll ever realize how dumb his statements are or will he just be shaking his head as BTC continues to go up?

Drifter

sr. member

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Laughable.

TLDR;
Law enforcement might somehow someday figure out a way to track it, I just don't know how yet.

Cryptography will fail somehow someday, I just don't know how yet.

We're doomed.

stan.distortion

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Merit: 1012

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Topic: 2012-08-09 uproxx.com 'This Is What’s Really Going To Happen To Bitcoin' (Read 1833 times)