Topic: 99.9% of Bitcoin Haters are uneducated (regarding Bitcoin) (Read 2800 times)

People fear what they don't understand. Nothing new here.

They just want the price to go down so they can get in. They missed the one in a lifetime opportunity and look back with jealousy.

Equally annoying are the anarchists that post that any trust of our financial system shouldn't be made, that we have to be in bitcoins because our fiat currencies will 'collapse at any minute' .. an argument that is just as ignorant in my opinion. Fractional reserve debt based central banking has proven itself to be stable enough... anyone intelligent enough to even understand what the term fractional reserve banking means, or how compound interest factors into the equation, is intelligent enough to protect themselves with a broad array of investments, from stocks, to precious metals, or bitcoin.. whatever happens to be cheap at the time.

However to be some extremist to say bitcoin is worthless, or on the other end of the spectrum, to distrust all fiat, both are ignorant viewpoints. Somewhere in the middle there is a happy medium of logical, distanced planning by a person who has the capacity to put their emotional rhetoric to the side and look at things objectively.

One would would also be foolish to not recognize the fact that a bitcoin 'bank run' is entirely possible in even the largest, most trusted exchanges. If someone sold 10,000 bitcoins to a major exchange like coinbase and demanded payment in fiat, it would be interesting to see what happens. 10,000 bitcoins is just a drop in the bucket, the largest 2% hold much more then that. In essence bitcoin at this point is very much the wild west, and requires internal policing of it's users to prevent a potential catastrophic situation.  Once the kinks are worked out I'm very enthusiastic about it though.

I would like to buy several hundreds of this "made of shit" coin in 2011 for the price of 2$...

What's stopping you? Reportedly it is just an hour of work for a well qualified person.

P.S. There can be only one singularity. How many Internets are there? What is stooping you from making another one?
P.P.S Thank You for validating the point in the subject of this thread.

My biggest beef is that the bitcoin scarcity thing is a bunch of bull.  I know that a bunch of bitcoin pushers are going to accuse me of being a central banker whore, but I mean really people what is stopping people from starting bitcoin2 or bitcoin3?  All the source code is out there available and ready for people to start their own new variants of bitcoin currency.  I'm suprised that more people are not doing this yet?  Maybe Satoshi is being noble, but then again he isn't stupid to start the bitcoin thing and be the first to compute the easiest coins and award himself the first 100,000 bit coins?  I mean its getting computation harder to calculate bitcoins, so why not start a new one?  All those fancy servers would be better counterfeiting a new bitcoin currency where they can gain easy computation of coins not the older currency where calculation are slumbered.  And at what point of bitcoin1, bitcoin2, bitcoin3 should people start to convert their fake fiat money into even faker bitcoins and which one?  Especially when the novelty of the thing wears off and people start to see that competing bitcoin currencies are a dime a dozen monopoly money. We will see that the Mt. Gox will always be in the most profitable bit coins, ie where the cost of creating new money is cheapest and the value of selling it is highest.  That may be the current incarnation of bitcoin right now but how long will that last when the reserves of surplus bitcoins falls due to selling to the suckers?  There is a sucker born everyday.  Fact is I hate Fiat currency! But I hate this geek currency even more!  Its smart enough for the originating crew to get the Nobel Prize on how to take whore fiat and exchange it for something even more useless all the while they are buying Hard metals with their bitcoins sells to suckers.  Wake up you fools!   

this statement is false.

99% of bitcoin USERS are ignorant about bitcoin.  Have you seen the econ forum?

Actually, my articles show why Bitcoiners are often more knowledgeable about bitcoin more than bitcoin critics.

Good +1

   99.9% of Bitcoin statistics are made up

Religious people often DON'T know more about the criticism of religion than religion critics.

How about that for logic...

I'm sorry my meaningless scatalogical pun tweet upset you so bad.

@mrthechairman

I TOTALLY AGREE PAL. I just want all the dead people to stay in their graves 

Yes, there are a lot of ignorant people and it won't change anytime soon. These people do not engage in rational discussion and there's no changing what they think, therefore I think they should be left alone. They will be able to get to know Bitcoin once it's established and refined for "average joe"

The mainstream crowd and haters will learn eventually. Of course, if EVERYONE thought Bitcoin was a great idea, the price would be much higher to reflect that. Those of us who are confident in the technology and familiar with the economics of money will reap a handsome profit by the time the average Joe even knows what Bitcoin is. Most people are not familiar with the ideas of sound money, so they see no purpose in Bitcoin. They will jump in when they perceive it as safe enough. Their perception of safety will be based on the number of Bitcoin users. The more Bitcoin users there are, the safer the average Joe will perceive them to be.

Bitcoiners often know more about the criticism of bitcoin than bitcoin critics. This is a natural consequence of constant forum debate. http://bitcoinweekly.com/articles/generation-and-assimilation-of-bitcoin-knowledge

It's a win actually IMO. If people are silly enough to pay attention to statements and not fully research whats going on let them jump off the bridge.

and you are giving them credibility by posting it here

via @mrthechairman (Twitter)

bitcoin more like shitcoin. a literal coin that is made of shit. a poop medallion, forged from 99.9% pure-strain turd