Bitcoin Forum
March 19, 2024, 08:07:56 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: 2013-11-24 NYTimes In Bitcoin’s Orbit: Rival Virtual Currencies Vie for Accept  (Read 1295 times)
bitcool (OP)
Legendary
*
Offline Offline

Activity: 1441
Merit: 1000

Live and enjoy experiments


View Profile
November 25, 2013, 04:43:19 PM
 #1

It's going to be interesting to see how much magic power the Network Effect has. 

http://dealbook.nytimes.com/2013/11/24/in-bitcoins-orbit-rival-virtual-currencies-vie-for-acceptance/
1710835676
Hero Member
*
Offline Offline

Posts: 1710835676

View Profile Personal Message (Offline)

Ignore
1710835676
Reply with quote  #2

1710835676
Report to moderator
1710835676
Hero Member
*
Offline Offline

Posts: 1710835676

View Profile Personal Message (Offline)

Ignore
1710835676
Reply with quote  #2

1710835676
Report to moderator
1710835676
Hero Member
*
Offline Offline

Posts: 1710835676

View Profile Personal Message (Offline)

Ignore
1710835676
Reply with quote  #2

1710835676
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1710835676
Hero Member
*
Offline Offline

Posts: 1710835676

View Profile Personal Message (Offline)

Ignore
1710835676
Reply with quote  #2

1710835676
Report to moderator
Alty
Hero Member
*****
Offline Offline

Activity: 714
Merit: 500


RISE Project Manager


View Profile
November 25, 2013, 05:18:48 PM
 #2

You got to love this comment from a Mr Spengler.

Quote
SpenglerAZ
The problems with virtual currencies:

1) Not convertible to real currency

2) Government authorities can shut them down,
rendering them worthless

3) Possibility for counterfeiting/fraud

The first movers and insiders profit, and the followers are vulnerable.
Kind of reminds you of a chain letter, doesn't it?

Bravo!  Grin
wormbog
Hero Member
*****
Offline Offline

Activity: 561
Merit: 500



View Profile
November 25, 2013, 05:40:16 PM
 #3

You got to love this comment from a Mr Spengler.

Quote
SpenglerAZ
The problems with virtual currencies:

1) Not convertible to real currency

2) Government authorities can shut them down,
rendering them worthless

3) Possibility for counterfeiting/fraud

The first movers and insiders profit, and the followers are vulnerable.
Kind of reminds you of a chain letter, doesn't it?

Bravo!  Grin

Classic. It's tough to write up a list that's 100% wrong, but Spengler pulls it off.

Here are some more problems for his list:

4) Probably gives you cancer

5) Highly unstable; might explode at any time

6) Is made of pure evil
proudhon
Legendary
*
Offline Offline

Activity: 2198
Merit: 1309



View Profile
November 25, 2013, 06:38:38 PM
 #4

You got to love this comment from a Mr Spengler.

Quote
SpenglerAZ
The problems with virtual currencies:

1) Not convertible to real currency

2) Government authorities can shut them down,
rendering them worthless

3) Possibility for counterfeiting/fraud

The first movers and insiders profit, and the followers are vulnerable.
Kind of reminds you of a chain letter, doesn't it?

Bravo!  Grin

I wish we could force everyone who wants to write about bitcoin to start by spending a day or two to understand the byzantine generals problem. 

Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!