Bitcoin is different

[freightjoe]

It comes up very often as an argument from people defending Bitcoin:

Bitcoin (and/or crypto) is different. Therefore the normal financial rules do not apply. This is something entirely new.

Try reading a well-researched book: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640

They look at 800 ( yes eight-hundred) years of financial developments in the world.

The conclusion is simply: in the past 800 years it was never different.

No matter the massive technological and societal changes in the world over the last 800 years, it was always the same. Given that 800 years of history, do you truly have any single rational argument as to why crypto is any different from the progress seen in the last 800 years? That would be folly to even suggest.

The same argument was used in the lead-up to the financial crisis in 2008/09 with the new financial tools developed
The same argument was used in the lead-up to the dot-com bubble in the late '90s
It is always the same argument. And the end-result is always the same.

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[Tatalk]

Every innovative thing is different, I guess and the same thing is for BTC too. The introduction of BTC to the planet is very beneficial. Now the millions of bitcoiner are part of it and minting money. BTC or any other virtual currency is entirely a different form of money and even helped millions of people and still on the way. This BTC has prove that in future it will become the future of economy and will help millions of people in getting their white collar jobs.

[pingrabazar01]

Bitcoin is different for its uniqueness . Its different cause it is acceptable to all. Its different for its demand and so so.

[djgtr]

Bitcoin is really different because it price is really amazing from any otger coin it has a great capability to contunue rise in the near future because many people believe on it today and many people use it because of its profit.The price og bitcoin is really difference from other coin because it is really rising almost everyday.

[judgememes]

It comes up very often as an argument from people defending Bitcoin:

Bitcoin (and/or crypto) is different. Therefore the normal financial rules do not apply. This is something entirely new.

Try reading a well-researched book: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640

They look at 800 ( yes eight-hundred) years of financial developments in the world.

The conclusion is simply: in the past 800 years it was never different.

No matter the massive technological and societal changes in the world over the last 800 years, it was always the same. Given that 800 years of history, do you truly have any single rational argument as to why crypto is any different from the progress seen in the last 800 years? That would be folly to even suggest.

The same argument was used in the lead-up to the financial crisis in 2008/09 with the new financial tools developed
The same argument was used in the lead-up to the dot-com bubble in the late '90s
It is always the same argument. And the end-result is always the same.

I'm with you, based on our last 800 years of history we know the outcome of this, and we should prepare when this bubble being to explote.

[Kez1817]

     Bitcoin is really different,you know why? Because it is verry usefull and help a lot of people to earn and have extra income. It is different in many ways,easy to use as payment,decentralized and totally freedom. Different  because it is digital and verry usefull in our days now that we are in computerized system.

[eminemcookie]

It comes up very often as an argument from people defending Bitcoin:

Bitcoin (and/or crypto) is different. Therefore the normal financial rules do not apply. This is something entirely new.

Try reading a well-researched book: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640

They look at 800 ( yes eight-hundred) years of financial developments in the world.

The conclusion is simply: in the past 800 years it was never different.

No matter the massive technological and societal changes in the world over the last 800 years, it was always the same. Given that 800 years of history, do you truly have any single rational argument as to why crypto is any different from the progress seen in the last 800 years? That would be folly to even suggest.

The same argument was used in the lead-up to the financial crisis in 2008/09 with the new financial tools developed
The same argument was used in the lead-up to the dot-com bubble in the late '90s
It is always the same argument. And the end-result is always the same.

The rules of the past will always be true until they are not. You can argue that previous rules will never be broken and you can argue that the past doesn't define the future, but the fact is that until it happens one way or the other there is nothing you can say with certainty.

[Nexjr14]

Yes, Bitcoin is different. Bitcoin digital currency of the future, many benefits and no third party in the system. It means that bitcoin is decentralized.

[FrueGreads]

For me there are two very important differences between bitcoin and everything else in the past years. You only have a link to a book so I couldn't read it because I don't have it, but to what I know bitcoin changes things by allowing people to be in control of their own money. No need for banks anymore, so no one has the huge power banks have. You used to need them to be able to trust the money you were getting was real, and transactions were secure, but now you don't need that. Secondly, the fact that bitcoin is decentralized and not tied to any government is also very important. You won't lose value over your money if you government makes a mess in your economy, or gets involved in a war, or things like that.

These two things alone are crucial and could be a game changer in my opinion. Of course bitcoin is not perfect, and all the speculation around it is making it hard to use right now, but might go away as adoptions occurs. I'm not mentioning the fees, because I do believe that scalability will be solved with technological developments. So yes, I think bitcoin is different, and I hope it succeeds.

[sucix]

Bitcoin is really different because it price is really amazing from any otger coin it has a great capability to contunue rise in the near future because many people believe on it today and many people use it because of its profit.The price og bitcoin is really difference from other coin because it is really rising almost everyday.

I thought the same thing. Bitcoin is really really different with other because its unique and nothing can be the same like it.
Bitcoin is new era of investment program which is creating new whales in the cryptocurrency and this happen is because bitcoin so thats why bitcoin is different.

[martin1603]

Bitcoin is really different because it price is really amazing from any otger coin it has a great capability to contunue rise in the near future because many people believe on it today and many people use it because of its profit.The price og bitcoin is really difference from other coin because it is really rising almost everyday.

[mkmittalg]

 Bitcoin is different for its uniqueness . Its different cause it is acceptable to aIt means that bitcoin is nice.

[Hexcolyte]

The current financial system need a change. Everyone should have equal right in terms of financial control ability. Those who actually make effort should get reasonable amount of return. Bitcoin or cryptocurrency in general may actually works...

[jseverson]

I haven't read the book, but the gist of what you're saying is that everything from the past 800 years play by the same rules, right? Either way, a trend only goes on until it's broken. Crypto may just be the kind of advancement that breaks it.

No matter the massive technological and societal changes in the world over the last 800 years, it was always the same. Given that 800 years of history, do you truly have any single rational argument as to why crypto is any different from the progress seen in the last 800 years? That would be folly to even suggest.

Crypto is basically money of the internet. The internet has evolved so far that people have been used to instant results. We can talk to anyone from nearly any corner of the globe without any borders. We can share our life with them through instant sharing of photos and videos, all made possible through the internet. So if that's possible, why not money? Crypto fulfills that need, and that need will only get bigger as technology advances. The internet revolutionized how communications work, rendering plenty of centuries old technologies obsolete. Crypto has that potential within the financial world. Only time will tell if it will live up to that potential, but I like its chances.

[Washball]

Money like it is since 800 years is always controlled by the governments. The currency of a country is based on the wealth and productivity of that country. If there's no wealth, no natural sources, no productivity, the currency will be worthless. See countries like Zimbabwe and Venezuela. Bitcoin is different because it's decentralized, governments have nothing to do with it. Bitcoin is not dependant from a country. The only thing is, banks and financial institutes want to take part in order to make a profit.