Better to stay away from Bitcoin

#1

Post by read_only » Fri, Dec 22, 2017, 3:49 PM UTC

Better to stay away from Bitcoin
dailysabah.com

Re: Better to stay away from Bitcoin

#2

Post by airbreather » Fri, Dec 22, 2017, 4:24 PM UTC

Too many inaccuracies in this article to be believable.

Yes, POW is a problem but reading this article I doubt the author ever designed mining hardware, description of sha256 is wrong for one, whole thing smells.

Re: Better to stay away from Bitcoin

#3

Post by read_only » Fri, Dec 22, 2017, 4:38 PM UTC

airbreather wrote: post #2

Too many inaccuracies in this article to be believable. Yes, POW is a problem but reading this article I doubt the author ever designed mining hardware, description of sha256 is wrong for one, whole thing smells.

I'm pretty sure the author understands sha256: https://scholar.google.com/citations?user=pd-IjLcAAAAJ

Re: Better to stay away from Bitcoin

#4

Post by onion-soup » Fri, Dec 22, 2017, 5:04 PM UTC

2011: Better to stay away from Bitcoin

2012: Better to stay away from Bitcoin

2013: Better to stay away from Bitcoin

2014: Better to stay away from Bitcoin

2015: Better to stay away from Bitcoin

2016: Better to stay away from Bitcoin

2017: Better to stay away from Bitcoin

2018: Better to stay away from Bitcoin

2019: Uhh well..

Re: Better to stay away from Bitcoin

#5

Post by [deleted] » Fri, Dec 22, 2017, 5:09 PM UTC

[deleted]

Re: Better to stay away from Bitcoin

#6

Post by craftyguy » Fri, Dec 22, 2017, 5:10 PM UTC

I wish -coin and crypto- articles/posts would stay away from HN.

Re: Better to stay away from Bitcoin

#7

Post by dna_polymerase » Fri, Dec 22, 2017, 5:11 PM UTC

"I didn't invest in Bitcoin back in X, so it's shit for reason Y"

Yeah, we know it has its weaknesses but that doesn't mean Bitcoin is bad in its entirety and you should stay away.

Re: Better to stay away from Bitcoin

#8

Post by grzm » Fri, Dec 22, 2017, 5:15 PM UTC

craftyguy wrote: post #6

I wish -coin and crypto- articles/posts would stay away from HN.

Submit and upvote other, better articles and flag those you think are inappropriate. Help make HN the place you want it to be.

Re: Better to stay away from Bitcoin

#9

Post by mrunkel » Fri, Dec 22, 2017, 5:16 PM UTC

read_only wrote: post #3

airbreather wrote: post #2

Too many inaccuracies in this article to be believable. Yes, POW is a problem but reading this article I doubt the author ever designed mining hardware, description of sha256 is wrong for one, whole thing smells.

I'm pretty sure the author understands sha256: https://scholar.google.com/citations?user=pd-IjLcAAAAJ

Shh. airbreather has money in bitcoin. Don't confuse him/her with facts. :)

Re: Better to stay away from Bitcoin

#10

Post by xiphias » Fri, Dec 22, 2017, 5:17 PM UTC

read_only wrote: post #3

airbreather wrote: post #2

Too many inaccuracies in this article to be believable. Yes, POW is a problem but reading this article I doubt the author ever designed mining hardware, description of sha256 is wrong for one, whole thing smells.

I'm pretty sure the author understands sha256: https://scholar.google.com/citations?user=pd-IjLcAAAAJ

Quite impressive, in this case he should know about key management (how to secure a private key), though probably he didn't want to spend the time to do it.

He doesn't understand the problem Bitcoin is solving (inflation/double spending on all levels in the current financial system)