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Author Topic: [2015-05-23]TheGuardian: Bitcoin really is useful. Just not in the way you think  (Read 691 times)
pawel7777
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May 25, 2015, 04:41:04 PM
 #1


Bitcoin really is useful. Just not in the way you think

http://www.theguardian.com/commentisfree/2015/may/23/bitcoin-really-useful-not-in-way-you-think

Quote
When the banking system went into meltdown in 2008, an intriguing glimpse of an alternative future appeared. On 31 October, an unknown cryptographer who went by the name of Satoshi Nakamoto launched what he described as “a new electronic cash system that’s fully peer to peer, with no trusted third party”. The name he assigned to this new currency was bitcoin.

Since then, the world has been divided into three camps: those who think that bitcoin must be a scam; those who think it’s one of the most interesting technological developments in decades; and (the vast majority) those who have no idea what the fuss is about.

I belong in the second camp, but I can see why others see it differently. Those of the scam persuasion, for example, see the absence of any central authority, the wild fluctuations in the value of bitcoins (they were worth more than $1,000 in November 2013, around $235 at the moment), the mysterious collapse of one of the big bitcoin exchanges, the hacking of some of the digital “wallets” in which people keep their bitcoins and so on. And if the sceptics had any doubts, the news that Rand Paul, the libertarian US politician now running for president, is willing to take campaign contributions in bitcoins tends to confirm their suspicions that it’s just a fantasy.
...

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May 25, 2015, 04:45:12 PM
 #2

Most people don't really seem to believe it's a scam any more but they think it wont last or will fail. Good to see some mainstream journalist is in the pro-bitcoin camp though. These articles will surely recruit more users.
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May 25, 2015, 05:25:04 PM
 #3

Most people don't really seem to believe it's a scam any more but they think it wont last or will fail. Good to see some mainstream journalist is in the pro-bitcoin camp though. These articles will surely recruit more users.

If people simply take the time to see what Bitcoin is, instead of taking things quoted by the media for granted, they would have seen what the full potential of Bitcoin really is.

I am glad that more and more people are looking into Bitcoin with an eye on storing value outside the traditional and oldfashion financial ecosystem.

whenwhatwherewhyhow
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May 25, 2015, 05:51:58 PM
 #4

Quote
And if the sceptics had any doubts, the news that Rand Paul, the libertarian US politician now running for president, is willing to take campaign contributions in bitcoins tends to confirm their suspicions that it’s just a fantasy.

I don't get that comment.
pawel7777
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May 25, 2015, 06:02:56 PM
 #5

Quote
And if the sceptics had any doubts, the news that Rand Paul, the libertarian US politician now running for president, is willing to take campaign contributions in bitcoins tends to confirm their suspicions that it’s just a fantasy.

I don't get that comment.

Yeah I didn't get that either. It could mean something like "fantasy candidate (with no chance of winning) accepting fantasy currency (with no chance of becoming mainstream)", but that still wouldn't make much sense.

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hilariousandco
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May 26, 2015, 10:34:24 AM
 #6

Quote
And if the sceptics had any doubts, the news that Rand Paul, the libertarian US politician now running for president, is willing to take campaign contributions in bitcoins tends to confirm their suspicions that it’s just a fantasy.

I don't get that comment.

Yeah I didn't get that either. It could mean something like "fantasy candidate (with no chance of winning) accepting fantasy currency (with no chance of becoming mainstream)", but that still wouldn't make much sense.

I think he means that bitcoin skeptics think bitcoin is a fantasy, but that sentence isn't structured very well.

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