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Author Topic: 2013-04-01 New York Magazine "Is Bitcoin Too Popular for it's Own Good?"  (Read 801 times)
mccorvic
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April 01, 2013, 09:27:02 PM
 #1

http://nymag.com/daily/intelligencer/2013/04/are-bitcoins-too-popular-for-their-own-good.html

trololol we're TOO popular!  I find this to a novel, if not stupid, idea.

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kiba
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April 01, 2013, 09:41:50 PM
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The number of merchants is steadily growing and people won't spend their hard earned bitcoin!

Perhaps the publicity isn't a bad thing if it creates stronger fundamentals for bitcoin?

lassdas
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April 01, 2013, 09:42:58 PM
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Real people don't want their money to double in value in a month
Real people want their money to lose value, because.....it's so much better.
Mike Christ
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April 01, 2013, 09:44:17 PM
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Too popular?  It's hardly entering the world, here.  I don't see how Bitcoin could possibly be "too popular".  The dollar is too popular.  Bitcoin can take the #1 slot any day.

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April 01, 2013, 09:44:40 PM
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Real people don't want their money to double in value in a month
Real people want their money to lose value, because.....it's so much better.
If that's all they've got then you know they are grasping at straws.
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April 01, 2013, 10:33:08 PM
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Real people don't want their money to double in value in a month
Failometer over 9000
marcus_of_augustus
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April 01, 2013, 10:40:13 PM
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A huge rise in values seems good, if you're used to looking at stock charts. But for a virtual currency that has no mechanism for adjusting supply relative to demand, it can be a kiss of death. As Joe Weisenthal points out, bitcoins are now undergoing massive hyperdeflation. People are hoarding bitcoins rather than spending them on stuff. Which makes sense. If you think your bitcoins will be worth twice as much next month as they are now, why would you spend them on online-dating services?

No, it simply means you will spend half as many on the on-line dating service you would have purchased anyway ... who doesn't like 50% off?!

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Real people don't want their money to double in value in a month –

I wonder how many "real people" they actually asked to arrived at this amazingly stupid conclusion? Beggars belief how silly people behave when their world-view is inverted.

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April 02, 2013, 07:39:16 PM
 #8

I already hold on to my money till I absolutely have to spend it.  bitcoin just gives me more incentive to hold on longer.

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