[2013-12-10] LA Times: Are Bitcoin believers the new Apple fanboys?

[dave111223]

Are Bitcoin believers the new Apple fanboys?
http://www.latimes.com/business/hiltzik/la-fi-mh-bitcoin-believers-20131209,0,6707791.story#axzz2mvqavkLU

I think he's just butthurt because 3 days ago he was writing bitcoin obituaries. About "bitcoin crash of 2013: Don't you feel silly now?"
Yes Michael Hiltzik you should feel silly now.

[1714994671]

1714994671

[beetcoin]

it kinda might be true though.. what i've seen from some of the "to the moon," and "bitcoin will be 100,000 by 2015" people. they can be so involved in their passion that they can only see everything in BTC

[marcus_of_augustus]

it kinda might be true though.. what i've seen from some of the "to the moon," and "bitcoin will be 100,000 by 2015" people. they can be so involved in their passion that they can only see everything in BTC

except ... so far they have been right,  for 3 years we have had exponential growth in both network adoption and correlated pricing. So at this point it is not so much mad, irrational 'passion' but purely past performance and expected growth rates ... although such radical mathematical realities can be otherwise sane people sound crazy and 'passionate' I accept.

[exstasie]

It's kind of true.  Bitcoin fanboys are definitely haters to the the other cryptocurrencies, as well as all fiat currencies lol.

If it ain't BTC then it ain't real!

[beetcoin]

it kinda might be true though.. what i've seen from some of the "to the moon," and "bitcoin will be 100,000 by 2015" people. they can be so involved in their passion that they can only see everything in BTC

except ... so far they have been right,  for 3 years we have had exponential growth in both network adoption and correlated pricing. So at this point it is not so much mad, irrational 'passion' but purely past performance and expected growth rates ... although such radical mathematical realities can be otherwise sane people sound crazy and 'passionate' I accept.

thinking that bitcoin has long-term growth potential is not the issue. it's just the people who have wildly unreasonable expectations. the kind of people that think bitcoin will take over fiat currencies as THE world payment system.

[marcus_of_augustus]

it kinda might be true though.. what i've seen from some of the "to the moon," and "bitcoin will be 100,000 by 2015" people. they can be so involved in their passion that they can only see everything in BTC

except ... so far they have been right,  for 3 years we have had exponential growth in both network adoption and correlated pricing. So at this point it is not so much mad, irrational 'passion' but purely past performance and expected growth rates ... although such radical mathematical realities can be otherwise sane people sound crazy and 'passionate' I accept.

thinking that bitcoin has long-term growth potential is not the issue. it's just the people who have wildly unreasonable expectations. the kind of people that think bitcoin will take over fiat currencies as THE world payment system.

the end point has always been the hard question ... the exponential growth indicates we'll know soon enough what that will be, if the current growth rate were to be sustained for another 5-10 yrs it would indeed easily 'take over' all fiat currencies with total money stock in the 5-10 trillion usd equivalent range, i.e. <10^13