Bitcoin is failing at becoming the future of money

#1

Post by paulpauper » Thu, May 20, 2021, 5:13 PM UTC

Bitcoin is failing at becoming the future of money
bloomberg.com

Re: Bitcoin is failing at becoming the future of money

#2

Post by thisisbrians » Thu, May 20, 2021, 5:22 PM UTC

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

Re: Bitcoin is failing at becoming the future of money

#3

Post by colordrops » Thu, May 20, 2021, 5:23 PM UTC

No it's not, but the cryptocurrency revolution it kicked off, is.

Re: Bitcoin is failing at becoming the future of money

#4

Post by ChainOfFools » Thu, May 20, 2021, 5:23 PM UTC

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

maybe cryptocurrency is alchemy and we're still waiting for science

Re: Bitcoin is failing at becoming the future of money

#5

Post by sbilstein » Thu, May 20, 2021, 5:25 PM UTC

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

at some point folks are gonna realize that the web was far more useful in its first ten years than bitcoin was in its first twenty.

Re: Bitcoin is failing at becoming the future of money

#6

Post by headmelted » Thu, May 20, 2021, 5:25 PM UTC

ChainOfFools wrote: post #4

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

maybe cryptocurrency is alchemy and we're still waiting for science

This legitimately covered my keyboard in Pepsi. Kudos!

edit: removed burn in all caps as this is not a Wendy's restaurant.

Re: Bitcoin is failing at becoming the future of money

#7

Post by headmelted » Thu, May 20, 2021, 5:26 PM UTC

sbilstein wrote: post #5

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

at some point folks are gonna realize that the web was far more useful in its first ten years than bitcoin was in its first twenty.

That's millions of people's religion you're disparaging you know.

Re: Bitcoin is failing at becoming the future of money

#8

Post by jamal-kumar » Thu, May 20, 2021, 5:27 PM UTC

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

I don't think anyone seems to remember the slight drama under which satoshi nakamoto had disappeared where he called people out for not really seeming to realize or respect that bitcoin was pretty much just a proof of concept

Re: Bitcoin is failing at becoming the future of money

#9

Post by josefresco » Thu, May 20, 2021, 5:28 PM UTC

thisisbrians wrote: post #2

Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.

> we're still waiting for Chrome

Dear God no. Wake me when the "Firefox" of crypto is available.

Re: Bitcoin is failing at becoming the future of money

#10

Post by bitexploder » Thu, May 20, 2021, 5:28 PM UTC

I am not a huge Bitcoin fan, and don't really have a strong opinion on it. It has some real problems, such as its energy usage, and slow transactions. All the technical complaints aside, which are legitimate, these news outlets write some of the worst pieces on Bitcoin. They are hopelessly biased in many cases and there are a lot of Bitcoin bears that eagerly celebrate its demise or anything negative around it. Sort of like all the folks that get giddy when Tesla stumbles. I think much more unbiased commentary I read recently was Bridgewater / Dalio's analysis: https://www.bridgewater.com/research-and-insights/our-though...

It is a very balanced take and Ray lays out the risks very clearly without all the breathlessness around volatility, etc.