2012-08-09 uproxx.com 'This Is What’s Really Going To Happen To Bitcoin'

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[Drifter]

Laughable.

TLDR;
Law enforcement might somehow someday figure out a way to track it, I just don't know how yet.

Cryptography will fail somehow someday, I just don't know how yet.



We're doomed.

[jwzguy]

That guy's hilarious. I wonder if he'll ever realize how dumb his statements are or will he just be shaking his head as BTC continues to go up?

[hazek]

That guy's hilarious. I wonder if he'll ever realize how dumb his statements are or will he just be shaking his head as BTC continues to go up?

Some people just need to learn the hard way.. 

[n8rwJeTt8TrrLKPa55eU]

Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Internet will be a fad, Claimed Scientist in '95
http://minnesota.publicradio.org/collections/special/columns/news_cut/archive/2012/02/the_internet_futurist_who_thou.shtml

[nevafuse]

Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Stoll got one thing right.

and no computer network will change the way government works.

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

[hazek]

Dan Seitz::Bitcoin::2012 = Clifford Stoll::Internet::1995

Stoll got one thing right.

and no computer network will change the way government works.

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

Yeah but it might eliminate the idea of a government being desirable or needed..

[Gabi]

Wow, Clifford Stoll epic failed!

[PawShaker]

Quantum computers have been vapourware for decades. However, should it eventuate, cryptography as we know it will be gone. Otherwise, the whole article is loughable. It starts with an assumption and then tries to find a rationalisation for it.

[Boussac]

This guy may go down in history as the writer of the most stupid, ill-informed piece of anti-bitcoin propaganda:

If you forge currency, the Secret Service is coming for your ass. You forge Bitcoins and… uh… a few Redditors will start a Scumbag Bitcoin Counterfeiter meme.

 

[TraderTimm]

This is why I know bitcoin will succeed. Because the idiots are confused and don't know how to categorize it, analyze it, or even come up with anything that is unique. Most of their arguments are something you can use against cash, or they simply display their ignorance of how the banking system works, and who is getting ripped off by using it.

[cypherdoc]

no facts, just opinion.

[Roger_Murdock]

This is the same guy who previously wrote:

The problem is that Bitcoin is backed by, well, nothing. It basically runs on clapping your hands and believing, which makes it incredibly volatile, as enthusiasts are learning the hard way. Once it becomes too hard to mine blocks, people will simply stop caring and move on to some other fad, and Bitcoins will become worthless.

http://www.uproxx.com/webculture/2012/05/the-fbi-is-terrified-of-nerd-fad-bitcoin/#ixzz23GjBNNzW

[ElectricMucus]

I was really expecting something more.

If there were something about crowd psychology and how certain things are abandoned quickly I would recognize it as an argument. Not saying that bitcoin is such a thing but it would be at least consistent with the claim  that "Bitcoin is a fad."
But "breaking" it? orly?

This guy at least should have done the research to understand the technical concepts enough.
Disappointing to say the least.

[caveden]

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

This piece is hilarious!
It's just amazing that pretty much everything he mocks as "unbelievable bullshit" became a reality some years after...  

[cypherdoc]

http://www.thedailybeast.com/newsweek/1995/02/26/the-internet-bah.html

This piece is hilarious!
It's just amazing that pretty much everything he mocks as "unbelievable bullshit" became a reality some years after...  

Great find.  This guys more stupid than he looks.  And he still uses the term "cyber".

[TraderTimm]

This is the same guy who previously wrote:

The problem is that Bitcoin is backed by, well, nothing. It basically runs on clapping your hands and believing, which makes it incredibly volatile, as enthusiasts are learning the hard way. Once it becomes too hard to mine blocks, people will simply stop caring and move on to some other fad, and Bitcoins will become worthless.

http://www.uproxx.com/webculture/2012/05/the-fbi-is-terrified-of-nerd-fad-bitcoin/#ixzz23GjBNNzW

He's more accurately describing Facebook post-IPO, haha. "People will simply stop caring and move on to some other fad."

Yeah, with their stock knocking on yearly lows it sure looks that way. So many people got fleeced in that one. I remember someone saying they'd buy on the day of the IPO in a local Chicago newspaper. The amount quoted was about $10,000.