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An articulate and lucid take-down of why Stross has lost his edge. Regrettably, he was one of my favorite authors as well, but it seems the time for that has passed. That's okay, there are plenty willing to take his place.
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I could honestly see various celebrity blockchains become the new bragging-rights for celebrities.
"Oh yeah? Well I got millions mining MY coins - don't know what you got" < audence hooting, clapping >
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I think once the economic benefits start becoming known, there's going to be even more of a "prisoner's dilemma" going on between countries who do restrict Bitcoin, and those who do not.
The temptation will be for encouraging more Bitcoin adoption, I think.
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These guys should sponsor some satoshi square events with colored trading jackets and trading cards - right near the exchange. That would be fantastic  |
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The hyperventilating-newbie-trading effect has been hilarious to watch. It will all be reversed by the coming Hong Kong announcement. I just don't know about the people on these forums anymore, seems that panic is really the only emotional response most have here.
China isn't out of the picture, even if all the round-eyes think it is.
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Two possibilities ...
a) he is really as much as dinosaur as he sounds (like nobody wants privacy in their financial dealings wtf?!)
b) he wants to buy in lower (usually the case in the last 3 years, people always talk their book)
c) Has a vested interest in the existing system continuing just as it is, with all of its flaws - because he benefits personally from the status quo. |
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So science fiction writers have a free license to "kick the hornets nest" because they can? How completely idiotic.
All writers actually. Their business, when they are good, is to get us to think about things. Whether that's fiction writers 'kicking the hornet's nest' and making us question our own beliefs and biases, or journalists daring to tell the truth no one else dares name and making us question our institutions and leaders.
As for how Bitcoin is the "wrong answer", I'd love to see your defense of how the existing system is the "right" one. And if you believe this, why the fuck are you here?
In many places around the world, like pretty much all war zones, Cyprus, Greece, Italy, most of sub-saharan Africa, and much of Latin America, Bitcoin is definitely a better system than what currently exists, because the people doing monetary policy there either are desperate, have no idea what they're doing, are corrupt, or are under too much pressure from people who are desperate, have no idea what they're doing, or are corrupt. A 'dead' hand with mindlessly simple algorithms is better than management by actively incompetent or malicious people. In many other places around the world, where actual competent and reasonably honest people are doing monetary policy, Bitcoin is not remotely a better solution in terms of monetary policy. It *is* however, a better solution as a financial network. Nothing as good exists for cross-border money flows, including into and out of all those nations where barriers exist to honest business because the officials in those countries doing monetary policy are incompetent or corrupt. I'm invested in Bitcoin because it solves a multi-trillion dollar problem; how to send money quickly, cheaply, easily, and securely around the world and break down barriers to trade. It may or may not be better monetary policy depending on where you live, it's a risky and volatile investment, and its equilibrium price when it's valued according to its utility will most likely be found through a huge cycle of bubbles and at least one 99% crash driven by currency speculation. But I honestly believe that its value according to utility is higher than the current price, and that's why I'm invested. "They make us think" - ah yes, the defense for the people who are "just asking questions", seemingly oblivious as to the implications of their actions. He knew exactly what he was doing. Its clear from the title, the content, and the subsequent cherry-picked comments that he allowed to remain on his blog. If he's going to have his own censor-happy kingdom, fine - but to throw baseless accusations against Bitcoin is ridiculous. I could make a claim against you, that you have no defense of - because I just "Say so", and it wouldn't help anyone involved. It wouldn't make them "think" or "hear the truth" about a damn thing. Its mudslinging, plain and simple. Stross sure wasn't advocating a patient and rational debate. Stross came out of the gate fists slinging his slop, behaving like a reckless bully. That is a far cry from your portrayal of someone trying to ignite debate about important internal issues regarding Bitcoin. |
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I don't see your response under his post. Was it removed?
I checked recently, and it isn't there. No proof that it even made it, so I'm not sure what the problem was. Highly likely it was in the moderation queue and got deleted/binned from there. |
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I find this hilarious. Not only is banning something outright useless, but they're lending legitimacy to Bitcoin as a currency by doing so. As mentioned above, if it isn't one - then isn't it just a fancy vending machine? Oh no? Then you think its a currency? Why is that smoke coming out of your ears?
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c) He's a fearful state-indoctrinated shill, who can't bear to see the legacy system that has enriched him fall under something new.
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Can Bitcoin Lend Credence to Wall St?
... probably more pertinent question..
Especially since most of the high-profile scams have been Wall Street originated over the past five years. (And longer, of course.) |
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And a youngdouche to report on it! |
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Mike "It'll happen eventually" Hearn is back for some self-promotion.
*golf clap*
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That's all right. I don't have enough information yet to make corrections myself; I'd no expectation that anyone else would.  So science fiction writers have a free license to "kick the hornets nest" because they can? How completely idiotic. As for how Bitcoin is the "wrong answer", I'd love to see your defense of how the existing system is the "right" one. And if you believe this, why the fuck are you here? |
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I love how everyone overlooks the fact that Zynga's target audience are people who are barely computer literate. "I turn on my pc/laptop, and NSAbook is my homepage". The first sign of trouble is a major disaster. "I have to update FLASH for my games, how do I do that? OMG!"
And yet, somehow, via magic or telepathy, we expect people to just jump on the Bitcoin train - after probably never having heard of it ever before. Right. I'm skeptical that their mindless clicking drones have the slightest interest in Bitcoin, or the skills to even acquire any.
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Invoking the rule of questions-in-an-article-title... No.
Betteridge's Law Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...
The same can be said about Bitcoin. Thanks for the pedantic correction on the first bit, and the other second nearly-as-pedantic answer for scalability. You honestly think the scale problem is the SAME in a blockchain where confirmation times have been drastically increased? So much for logic. |
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dont think so. Litecoin is the second largest and best coin out there.
Right, but you also miss out on the degree of being "second" that it is. Also, there's no real evidence that it will scale worth a damn. Even after adding ASICs to the mix - which the original implementation was made to be anti-ASIC (oh the irony), you guys are just treading water with what amounts to a penny stock that got taken to 0.0001 not too long ago. I'd keep that low price in mind, penny stocks tend to revisit those extremes. |
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Invoking the rule of questions-in-an-article-title... No.
Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...
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