IMO, what gets people raging against bitcoin (me included), is that it has "that smell".
By this I mean a certain likeness to many other speculative schemes that came before. I remember reading somewhere that Groucho Marx had lost a significant portion of his assets in the stock market in the 20s, because he had invested without knowing what he was doing at a time when everybody was investing without knowing what they were doing.
The tone of much of the writings these days that push Bitcoins leads me to believe that we might be heading in a similar direction with Bitcoin. Now imagine yourself in the position of a person that thinks as I do. Wouldn't you say that some of the hurrah-praise of Bitcoin in technology corner to me might reek of hubris?
Too many people wanting to get rich quick. Too much fluctuation. Too much speculation.
But there's a big difference between advising against wistful investment in Bitcoin as if there's guaranteed payoffs, and denying that Bitcoin is a significant breakthrough in technology.
By this I mean a certain likeness to many other speculative schemes that came before. I remember reading somewhere that Groucho Marx had lost a significant portion of his assets in the stock market in the 20s, because he had invested without knowing what he was doing at a time when everybody was investing without knowing what they were doing.
The tone of much of the writings these days that push Bitcoins leads me to believe that we might be heading in a similar direction with Bitcoin. Now imagine yourself in the position of a person that thinks as I do. Wouldn't you say that some of the hurrah-praise of Bitcoin in technology corner to me might reek of hubris?
Too many people wanting to get rich quick. Too much fluctuation. Too much speculation.