Why the practical applications of Bitcoin will be limited

Despite the click-bait title, the article makes valid points which are very often overlooked or downright ignored by hardcore bitcoiners. As someone who's been watching bitcoin for the past few years, this is in my opinion the plain reality.

Re: Why the practical applications of Bitcoin will be limited

#7

Post by jerguismi » Wed, Mar 04, 2015, 4:52 PM UTC

Bitcoin won't be the new internet, true. Its impact will be far greater than that. Trolololo.

Re: Why the practical applications of Bitcoin will be limited

#8

Post by sida » Wed, Mar 04, 2015, 4:53 PM UTC

Mahn wrote: post #6

Despite the click-bait title, the article makes valid points which are very often overlooked or downright ignored by hardcore bitcoiners. As someone who's been watching bitcoin for the past few years, this is in my opinion the plain reality.

And in Bitcoinland, objections against Bitcoin are also often flagged as trolling, and dismissed immediately

Re: Why the practical applications of Bitcoin will be limited

#9

Post by etchalon » Wed, Mar 04, 2015, 5:04 PM UTC

sida wrote: post #8

Mahn wrote: post #6

Despite the click-bait title, the article makes valid points which are very often overlooked or downright ignored by hardcore bitcoiners. As someone who's been watching bitcoin for the past few years, this is in my opinion the plain reality.

And in Bitcoinland, objections against Bitcoin are also often flagged as trolling, and dismissed immediately

There is definitely a pervasive culture within cryptos of people either "getting it" or "not".

It's a bit disturbing.

Re: Why the practical applications of Bitcoin will be limited

#10

Post by hartator » Wed, Mar 04, 2015, 5:06 PM UTC

"Per transaction cost is currently low because mining revenue comes from inflation."

It's actually the reverse. Mining speculates on deflation not inflation.