Topic: 'bitcoin is a ponzi scheme and wont last without china'-south china morning post (Read 3662 times)

He's probably just a troll to be honest. People like that do not think rationally because they are unable to think outside of any boxes except the one they are trapped in. Must be kinda scary to them.

Yeah. I see what you mean. A lot of hatred and fear of a country he has probably never been to. I just watched 12 years a slave.  This guy's attitude reminds me of the slavemaster. He doesn't seem to think of other people as human beings but more as objects of hatred.

I wonder what kind of shoes, clothes, computer or car he uses? Pretty hard to avoid Asia. Lol.

Read the rest of his posts then. That's mild in comparison.

This is some very nasty writing. Not good at all.

And nobody has an obligation to respect you or anything you say either. And pretty much nobody does around here.

Your logic of fighting ignorance with ignorance and propaganda with propaganda just makes you look like a hypocritical fool who must not only live in glass house but on a glass planet by the looks of things.

Wearing Tinfoil-Hats seems to be a Chinese thing too....

I don't know if people like him realize that it's offensive to say things like that or to have "us vs them" mentalitly but it's something I see often living in China.  Even my own Chinese family (in-laws) still often refer to me as "老外"  (foreigner)  when they are talking about me.  They aren't trying to be rude or anything but they and most Chinese people will always view everyone else an outsider and a foreigner, even if you're family.  You can't walk more than a few minutes around in China without hearing whispers of "foreigner foreigner foreigner" as people walk by.  Again, I don't think they do it on purpose or to be rude but it's certainly a mentality that's part of their upbringing.

Anyway, who cares about that really.  It's just sad to see someone so smart misunderstand bitcoin so much.  It's a shame he has no idea nor talks about any of the technological aspects of bitcoin or how it improves things like microtransactions and international transfers (something you would think many Chinese people would like due to how hard it is to move money out of mainland China).

He is correct on some things though, like China fueling the speculative aspect of bitcoin.  I think he's wrong though that bitcoin can't survive with China.  Bitcoin will continue to grow and gain adoption across the world, whether China is on board or not.  Similar to how things like Facebook, Twitter, Google etc etc can flourish without China being on board.

That's because Andy believes that China is in an epic property bubble.  I think he is probably right.  Sure, he is wrong on Bitcoin but he does understand that fiat debt based systems are inherently unstable. The problem is that Andy doesn't understand the blockchain and the benefits that the technology confers. He thinks that Bitcoin is some kind of centralised digital currency.  If you read the rest of what I wrote, you'll see that I'm not defending him.  

Economists generally have a poor grasp of the Byzantine Generals' problem.  They don't understand that this longstanding problem has been solved by Bitcoin.  

Exactly. Those who live in a glass house should not throw stone or complain about 'racism'. That's a bitch mentality right there.

No one has the obligation to give even a modicum of respect to such people. They are the offenders, and must change their ways or else the retaliation is perfectly justified - other people have little obligation to think otherwise. Fair's fair.

Everyone is entitled to their view and opinion, and obviously I don't know the history or background of this guy so I shouldn't judge too hard.  He's certainly way off on bitcoin though and appears to just be pushing predjiduce propaganda..... such as "bitcoin was created by foreigerners to rob Chinese people"..... I'd say not only is that obviously wrong,  it's borderline racist imo. 

Just my two  cents..

"Andy is probably one of the most insightful economists you will ever come across."

I doubt that, I do believe he is probably one of the most insightful economists you will ever come across.

I've read this guy's article for a decade and he is bearish on everything

Andy is probably one of the most insightful economists you will ever come across. His comments on bitcoin being a craze in china merits consideration. However, on this issue I believe Andy is wrong for the following reasons:

1. Bitcoin is not just a digital currency. I think he doesn't yet realise that bitcoin is decentralised and effectively unstoppable. So, Andy doesn't understand the technology behind bitcoin, which is unfortunate.

2. Andy doesn't realise that the global growth rate of bitcoins is hovering at around 30% per month. Maybe China will have a short term impact on bitcoin values but in the medium and long term, bitcoin's user base is likely to rise towards 10 million. This relates to point 1, because Andy doesn't understand the technology behind bitcoin.

3. Andy doesn't realise that investment trusts are being setup in the US that will buy and hold bitcoins for the long term, starting in 2014. When bitcoins are sold to the public in this manner, the volatility will subside because speculators are being replaced by long term buy and hold investors.

It is not possible to stop bitcoin. Governments can only slow down the adoption rate a little if they tried really hard. BTFD!

Really?....I thought that the proliferation of prostitutes/drugs was a NWO objective to dumb-down/placate the population so they would not resist the Greys when they arrive on Planet X.....

if i had the link i'd send you a radio interview WITH satoshi.  he and Clinton were supposed good friends and they both wanted a place to buy and sell drugs so they invented Silk Road?

Dont be ridiculous.... we all know it was created by the NSA  

I wouldn't worry, the Chinese public can discern what propaganda is quite easily.
In the past though it was very hard to go against the government wishes but Bitcoin makes it easy.
So basically every time they write a negative Bitcoin article or put Bitcoin on the news in China now, they are just giving it more free advertising.


I can already see the comedy show now...

__________________________________________________________________

Chinese government officials are sitting in an office watching a big screen of Bitcoins moving through China on Fiatleak.com.
(Every time it's more than 10 per second it makes the BEEP sound)

Chinese official----------------------------'Find the Bitcoin!'

His soldier races into the village and into people's homes -

- lifting up the mattress---------------- 'Where is the Bitcoin!?'
- rifling through the fridge--------------'Where is the Bitcoin!?'
- putting his head out of the sewer--'Where is the Bitcoin!?'

The Official sees the Bitcoins moving faster on his screen---'Beepy! Beepy! Stop the Beepy!

A soldier is breaking somebodies hardrive and looking through it---'Where is the Bitcoin!?'
The soldier is putting a small torch in someone's ear--------------' Are you remembering the Bitcoin!?'

The Bitcoins are now racing all over the fiatleak screen, the official stamps his feet like a little kid--- 'AHHH!

_______________________________________

Possibly, but by responding to racial bigotry with more of the same, you are just taking yourself down to his level.
Surely you can articulate your objective comments without resorting to this??!

Bitcoin has other uses than just a store of value.

I feel that the bitcoin protocol can be used for specialized services.

For example, bitcoin network can be used to communicate. The fact is that little can be done to prevent such means of communication.

This can be viewed as a loss of control.

So the authors views may be sincere however "Time" and unbiased history will show how misinformed he is.

What I am getting at is the validity and complete lack of any substance behind the words of such people. I think it is apt to say you can measure a man's worth by his actions, not words.

This 'author' has much words, but little follow through. Just some very opportunistic attitude with some ignorant ethnic biases and bitchy mentality thrown in to give 'courage' (LOL) as some ignorant chinese called it, no doubt trying to mentally masturbate to the idea of 'standing up for yourself'. All the while their very identity and actions identify them as opportunistic cowards.

I don't know you, and that was a general detail of the fact about what these kinds of people actually did to put themselves in a position to write such articles.

Generalization is a fool's errand, but they need to get their own acts together if they don't want to be generalized.

Respect is a two way street, and these kinds of people who wrote these 'articles' know little more about them then children.


TLDR - author's a bitch and so is this article. If you want a legitimate criticism against bitcoin, examine the issue with some economists without at least overt political and ethnic biases.