To sum up he says
Myth 1 Bitcoin is inevitable
Myth 2 Bitcoin is anonymous
Myth 3 Bitcoin is "government proof"
Myth 4 Bitcoin is legal
Myth 5 Volatility does not matter
jesus...
Myth 1 Bitcoin is inevitable = Give that man a medal!
Myth 2 Bitcoin is anonymous = Really I could have sworn that it was, a 20 year old told me so, and of course I listen to everything that a 20yr old tells me, and they are the only ones that know about Bitcoin
Myth 3 Bitcoin is "government proof" = Does it need to be? let's wait and see on that one. (that discussion coudl go on for days!)
Myth 4 Bitcoin is legal = Bitcoin is not illegal, at least not anywhere where people are "free" Let's wait and see on this one too.
Myth 5 Volatility does not matter = Nor does it matter
much yet, and
if Bitcoin
does manage to stay around and grow, then the volatility will go down... again, looking at things as they stand today, without taking into account how things will change as it grows, if it does manage to stay around.. but then in the same breath tells us that if Bitcoin grows it will use as much energy as Germany, so he accepts that it could grow, and that it will (in his model) use all this energy, but does not accept that growth would also have meant government acceptance and clear legislation, nor that an increase in adoption and therefore volume and the advent of more established exchanges would provide greater liquidity and therefore less volatility
"when I talk to Bitcoin supporters , when I ask questions I do not get answers I get "why are you asking questions, why are you being so negative"
"when I talk to these 20 years olds who are into Bitcoin"
Maybe he is asking the wrong people? I wonder where he takes advice on his love life from..
I do not even know any Bitcoiners in their 20's tbh none at all, they are all 35 +
Also I do not think that having a currency that "bypasses" government means that all government should or needs to be removed, that is bad logic.. you can have a government and a crypto currency that is not linked to the government, and still have a government, they are two different things.. So it is the
intentional dishonesty and simple logic mistakes that he displays in this and other arguments that makes me doubt everything that he says...
According to this guy, the only people that have confidence in Bitcoin are 20 years old, and that not one of them would listen to any cogent argument and he has spoken to all of them.
I wonder if he was in a room person to person with all of us lot, if he would have the same kind of style to his communication, or if he would talk like a normal person, rather than like he is talking down to a room full of stupids.
For a guy with so much smarts... he makes a lot of simplifications and mistakes... blindly so... maybe he is smart enough to understand, but maybe he has to much emotional baggage, he seems to be very caught up in the past.
Bitcoin will be using as much power as Germany... based on? and I imagine projected into a future where nothing changes apart from the electricity used but everything else is based on today's(or even yesterdays) stats? I wonder how long this guy thought it would take to decode the human genome after 3 years in, things change.
Also when was the last time we had a "good government" doing "good things" that did give this guy feeling of warm fuzziness?
No real surprise that he sees no reason why we should change the banking system or the way government works... "I went to oxford and studied
computer science" blah blah .. yup Oxford, Cambridge, Harvard, Yale , much much good has come from these places no doubt...lots of very smart good decent down to earth intelligent great people, but also pretty much every douche bag that works for Goldman,Morgan, FED etc etc came from those same places too...
most of them born with a silver spoon in their mouths and most of them (
not all) are totally clueless about the world outside of their little isolated circle - and are the LAST people I would listen to when they try to tell me "what the rest of the population thinks too" and which population does he mean? is he speaking for the population of Iceland, Cyprus, or even the population of Russia, China, India, I think he is speaking for
his rather small "population" and I do not even mean a country.
Going to carry on listening to see if he has any good points for sure... but already I dislike his style
Ok just got to him "debunking" "Bitcoin is anonymous" ffs... I am struggling not to press stop at this point...
And now "we do not know Satoshi is" how can we trust Bitcoin?
omg... yeah that degree at oxford did not do this guy much good in the common sense department.
Now the guy is saying that Bitcoin is a brilliant bit of tech, just not defo 100% the future- the first sensible thing he has said
oh and that the international payment system is a joke... another hit for the guy.
Now talking about e-gold - this guy is showing he is out of the loop... maybe he should have a chat with Ben Lawsky..
Bitcoin is not e-gold... and we are not back then... we are here now in 2014 and things have changed, we have moved on from e-gold in so so many ways...both the tech, the system, the current political and legal attitude and environment, something that this guy seems to ignore.. and again and again he is very very selective with his arguments... and clearly 100% entrenched in his way of thinking ... I think he will die with the same idea and beliefs he has today.
God now he is talking about how great the USD is , and because it is backed by the government... not one mention , not one about the huge debt, the dwindling purchasing power of the USD, the fact that the whole world is gently playing pass the parcel with USD, that more and more countries are trying to get away from and have less and less trust in the usd petro dollar. Not one mention about how actually Bitcoin and USD could live side by side, nope, in his world it is one or the other, a 20 year old told him so.. By the way I am not bashing the USD but claiming all is fine in the USD world is as false as claiming Bitcoin is 1000% inevitable
Nitro ice cream..and child porn ... and from there to Mt Gox... and from there onto Bitcoin would not survive if Mt Gox goes down.
meh... I am going to struggle through part two and see what else he has to say.... but thus far for a man with all of these supposed smarts
he has not actually said anything very enlightening or
new, or actually that smart..in fact either by mistake or not he makes some very glaring over simplifications, if not outright BS, he speaks well, and is obviously a smart guy, but is also a little bit of a dinosaur (or maybe has an agenda)
which is a bit of a surprise...
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