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Author Topic: Bitcoin is a great foreign currency  (Read 1876 times)
Dps23
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August 16, 2013, 11:18:22 AM
 #21

In terms of cryptocurrencies, it's better to be an "atheist" or "agnostic" and be skeptical at all times. Following a "religion" (which could be each individual currency such as BTC, LTC, Ripples, etc) gives you a tiny percentage of being correct. It's better to be very cautious, and make informed decisions rather than blindly follow bitcoins.

I agree with J603 post. He wrote it nice and understandable. Nobody tells you to bet on every coin or shoot on anything that is moving.
Just use your common sense and choose several coins.
In my opinion currently BTC is too expensive and in the future BTC will become outdated coin which must be all the time repaired by developers. It would be easier and safer to use other coins (which currently might have not been developed yet)
Five years from now nobody knew about bitcoin and five years from now btc might be forgotten.
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J603
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August 16, 2013, 12:34:44 PM
 #22


I guess i wasn't clear.  I didn't mean to suggest Pascal's Wager had much merit -- just the opposite.  I brought it up to highlight the ridiculousness of the "always bet on the unlimited positive potential" argument.


I didn't think you believed in Pascal's Wager which is why I didn't quote you, but I guess that I should have been clear in that it wasn't directed towards you, but rather towards other people who were using it (or at least the idea behind it) to make decisions about cryptocurrencies.

I really just wanted to get the point out that placing your bets on one cryptocurrency is irrational, because there's a greater chance of it failing than succeeding, no matter how great or well thought out it may seem.

Also, I didn't come up with the "There may be other gods" argument, so I'm sure that there's more to it. Unfortunately I forgot what the name of the idea is.
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