Bitcoin Forum

Bitcoin Craziest Thing Since Tulip Mania: Mallaby

http://www.bloomberg.com/news/videos/b/d75ca225-3e0d-4d9e-a8a8-d32edda58a94



 ;D

Oh my god he is stupid!

That video is painful to watch.

This guy is on video basically demonstrating his ignorance of Bitcoin.

He incorrectly names Satoshi an "anonymous hacker" when satoshi is simply a programmer-- not a hacker.

Secondly the guy says he wouldn't trust an anonymous hacker, but the source code is open source so there's nothing hidden about bitcoin to "trust".

This is just one of those people who don't get it and will simply be mowed over by this evolution in money. Some people will never get it, like Warren Buffet (and this guy). They're too old to get with the new.

His distaste and distrust of Bitcoin is based entirely on his ignorance. He'll do a 180 once he actually takes the time to learn how it works. They all do.

People like him are the reason that our scientific progress in space flight has stalled, but yeah, as others have said, he'll pretend he didn't say this and completely change his viewpoint once he realises how wrong he is.

that is a whole new level of stupidity..  ;D
an example of someone that closed a book after reading only the first and the last page and wrote a review about it like he knew it all

I think perhaps the first word and last word, not even the first page.

He is an apologist for the centralized Federal Reserve, on the payroll of the powerful.

It isn't backed by an "anonymous hacker" it is backed by math and the protocol and all the people involved in the ecosystem.  All voluntary instead of forced like the central banks.

Typical old dumbasses talking about Bitcoin when they just should stick to oil while it lasts. Jesus Christ, only when the generation of all those old idiots die we'll be free from their deprecated opinions and their equally deprecated assets. They have literally no idea on what's going on, somewhat amusing to see. I can't believe such illiterate morons got so wealthy.

He is only a few years older than Satoshi probably is.  And about 8 years younger than Hal Finney was...so don't lump all of that age group together.  :-)

(Admittedly he does look closer to Buffett's age (84) but he is "only" 51-ish (http://en.wikipedia.org/wiki/Sebastian_Mallaby).  He does look like an insufferable prick though.)

About as stupid as Prof Bitcorn

Mark T Williams  ;D

i knew you would love this video  ;)

You were right! Lol

Thank you for that - the ageism thing gets very tiresome here at times.

An interesting issue is why Bloomberg and other MSM outlets present FUD like this - presumably they want BTC to fail, and it is probably not because they are old and/or stupid, more likely they are heavily vested in status quo financial systems. If that is the case, the campaigns are likely to go on for some time and younger spokesFUDders will be found as needed. On the other hand, perhaps they just want eyeballs to advertise to, in which case saying outrageous things to create buzz is an old journalistic standby.

I chart my own course and generally ignore mass media noise, and I try to avoid drawing conclusions about arbitrary demographic groups based on tiny samples - especially when a tiny sample is obvious spin.

Some days I miss having cable TV, but this is not one of those days.
Agreed it is amazing how some "dumb" people managed to become wealthy, especially if they were not born that way.

It's not true, that before the central bank there was no common currency. There were federal coinage laws long before the Federal Reserve was set up, which defined the common currency. "Free banking" just meant, that banks could issue their own notes, but these were backed by gold. And why are frequent crises a bad thing? During the "Free banking" period there was substantial economic development in the US. Central banking does not prevent crises. Economic imbalances can accumulate longer by providing liquidity to institutions which would go otherwise bankrupt and then only lead to a more severe correction, e.g. Great Depression, Great Recession.