Quote
What's riskier than bitcoins?
Fiat.
Topic: 2013-04-19 Wired: What's Riskier Than Bitcoin? Bitcoin Companies (Read 758 times)
Fiat.
If a superior cryptocurrency replaces Bitcoin they have the potential to take lessons learned (processes, software codebase, fraud prevention, financial partners) and leverage the new system.
And considering how easy it is to switch code vs seriously revamping your manufacturing and accessories lines it should not be an issue even worth mentioning in comments; much less should it be main point of an article...
Hence all of their "betamax" comparisons do look rather stupid. Especially for a magazine which supposedly knows the subtle difference between digital and tangible goods.
Exactly in the "betamax" analogy most bitcoin enterprises are in a position similar to content companies. If Bitcoin succeeds then they are successful as well. If a superior cryptocurrency replaces Bitcoin they have the potential to take lessons learned (processes, software codebase, fraud prevention, financial partners) and leverage the new system. Even Sony (major backer of Betamax) was immensely profitable once they embraced VHS fully.
Quite a load of bullcrap as usual. The one and only point in that "article" - that we don't yet know which cryptocurrency would come out ahead - completely ignores the fact that any bitcoin company, like coinbase, can switch to alternative currency in literally minutes, and that the only thing which matters in cryptocurrency ecosystem is trust - and the sooner you start building trust, the more of it you have, does not matter if you deal in bitcoins or futurecoins.
Hence all of their "betamax" comparisons do look rather stupid. Especially for a magazine which supposedly knows the subtle difference between digital and tangible goods.
Hence all of their "betamax" comparisons do look rather stupid. Especially for a magazine which supposedly knows the subtle difference between digital and tangible goods.
The really risky thing is a tech magazine still trying to be relevant.
Hang it up, Wired, you're trying too hard to become HuffingtonPost 2.0
Hang it up, Wired, you're trying too hard to become HuffingtonPost 2.0
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