Please, Make Bitcoin Illegal

#1

Post by mikekij » Fri, Feb 07, 2014, 11:05 PM UTC

Re: Please, Make Bitcoin Illegal

#2

Post by Woben » Fri, Feb 07, 2014, 11:11 PM UTC

It's articles like this (and the ferver on reddit) that has driven me away from bitcoin. The only way for people to make money with bitcoin is if people buy more bitcoin. /that/ is the ponzi scheme.

Ontop of all of it. What a stupid article.

Re: Please, Make Bitcoin Illegal

#3

Post by a3voices » Fri, Feb 07, 2014, 11:17 PM UTC

Woben wrote: post #2

It's articles like this (and the ferver on reddit) that has driven me away from bitcoin. The only way for people to make money with bitcoin is if people buy more bitcoin. /that/ is the ponzi scheme. Ontop of all of it. What a stupid article.

> The only way for people to make money with bitcoin is if people buy more bitcoin.

How is that any different than gold? Are you against that too?

Re: Please, Make Bitcoin Illegal

#4

Post by lingben » Fri, Feb 07, 2014, 11:22 PM UTC

If a slew of people with zero knowledge of programming, computers, technology, etc. decided one day to start pontificating incessantly about code, programming languages, etc. hn would first sneer at them and then rightly ignore them.

But if people with zero knowledge of economics or finance write a torrent of vapid and completely ignorant articles about currency, bitcoin, macro-economics and their intersection hn seems to just lap it up.

I'm really tired of this. I do get that the bitcoin protocol has some interesting aspects. But can we please ignore the total waste of space, time and pixels that is every single article about the bitcoin currency?

Re: Please, Make Bitcoin Illegal

#5

Post by Woben » Fri, Feb 07, 2014, 11:54 PM UTC

a3voices wrote: post #3

Woben wrote: post #2

It's articles like this (and the ferver on reddit) that has driven me away from bitcoin. The only way for people to make money with bitcoin is if people buy more bitcoin. /that/ is the ponzi scheme. Ontop of all of it. What a stupid article.

> The only way for people to make money with bitcoin is if people buy more bitcoin. How is that any different than gold? Are you against that too?

> How is that any different than gold?

Gold has actual use outside of being a currency which is one of the reasons it's valuable. (and before the inevitable "OMG FIAT CURRENCY HAS NO VALUE EITHER" It has the weight of governments behind it. Like it or not they make it valuable.)

I also think gold is a terrible idea for a currency, or a terrible idea for backing a currency - Get that out of the way as well.