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Steve (OP)
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October 22, 2011, 07:10:00 PM |
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http://www.marketwatch.com/story/bitcoin-is-the-latest-alternate-currency-to-crash-2011-10-21?link=MW_latest_newsI'm not sure whether this is good or bad. John C. Dvorak is notoriously bad at making tech predictions. He has a very US centric point of view in this article and fails to discuss bitcoin's decentralized architecture (and how that makes it unique among previously failed attempts at digital currencies). I my opinion, the question of whether we'll all be using trans national digital currencies is a matter of when, not if. It may or may not be bitcoin, but it's here to stay in one form or another.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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johnj
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October 22, 2011, 07:15:13 PM |
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It read something like this to me
"Yada yada yada, taxes, yada, Beenz, yada, Flooz, yada, Bitcoin market crash, yada, government won't let anything like this succeed, taxes"
Kinda seemed like an opinion article written while he was on the toilet. Very short and lacked any substance.
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1AeW7QK59HvEJwiyMztFH1ubWPSLLKx5ym
TradeHill Referral TH-R120549
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evoorhees
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Democracy is the original 51% attack
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October 22, 2011, 07:15:35 PM |
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Hehehehe he has absolutely no idea why Bitcoin is different, and thus I'm not surprised by his analysis. I'd be equally as skeptical of Bitcoin of it were just another Beenz.
The article even admitted he didn't know how Bitcoin worked... he's making guesses purely based on the recent price fall. This is a silly as guessing that Bitcoin will skyrocket purely based on a price increase. Maybe he should accept Roger's $10,000 bet?
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AngelusWebDesign
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October 22, 2011, 07:17:12 PM |
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It read something like this to me
"Yada yada yada, taxes, yada, Beenz, yada, Flooz, yada, Bitcoin market crash, yada, government won't let anything like this succeed, taxes"
Kinda seemed like an opinion article written while he was on the toilet. Very short and lacked any substance.
+1 Indeed -- many commentators totally miss the point. A bitcoin is NOT just an entry in a central database somewhere, like with Beenz, etc. A Bitcoin can't be counterfeited because it's near-impossible to do so. Unless you're a government, and anything is possible for them... |
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Gabi
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If you want to walk on water, get out of the boat
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October 22, 2011, 07:34:44 PM |
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+50% in 2 days bitcoin is crashing  |
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GoWest
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October 22, 2011, 08:09:15 PM |
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He just compared Bitcoin to ridiculous, centralized virtual currencies that had no redeeming qualities, except that they had "cool" names like "Flooz" and "Beenz." Bitcoin is a game changer, the implications of which even intelligent individuals like John Dvorak cannot comprehend because they're set in their old ways.
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k
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October 22, 2011, 08:19:32 PM |
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I think this analysis by Dvorak could equal his thoughts on the mouse. Dvorak's most famous prediction came in 1984 as a writer for the San Francisco Examiner: "The Macintosh uses an experimental pointing device called a ‘mouse’. There is no evidence that people want to use these things." http://en.wikipedia.org/wiki/John_C._Dvorak |
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I.Goldstein
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October 22, 2011, 08:23:12 PM |
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I think this analysis by Dvorak could equal his thoughts on the mouse. Dvorak's most famous prediction came in 1984 as a writer for the San Francisco Examiner: "The Macintosh uses an experimental pointing device called a ‘mouse’. There is no evidence that people want to use these things." http://en.wikipedia.org/wiki/John_C._DvorakThis article by Dvorak seems to only point towards great things for Bitcoin. |
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asdf
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October 22, 2011, 11:14:04 PM |
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John C. Dvorak is notoriously bad at making tech predictions.
He was wrong about the keyboard and he's wrong about this! |
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LightRider
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I advocate the Zeitgeist Movement & Venus Project.
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October 23, 2011, 03:52:44 AM |
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This screwball "internet" scheme is just a way to get around buying postage stamps from the government. It will never work.
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oOoOo
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October 23, 2011, 10:17:22 AM |
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a convoluted encrypted monetary unit whose complexity is beyond baffling to the layman. But he's probably right about this I'm afraid... |
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payb.tc
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October 23, 2011, 10:36:15 AM |
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John C. Dvorak is notoriously bad at making tech predictions.
He was wrong about the keyboard and he's wrong about this! what is wrong about the dvorak keyboard? we only use qwerty because (global) change is difficult, not because it's a better system. bitcoin might fail for the same reasons as dvorak keyboard failed... because existing, inferior systems are too entrenched. |
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FreeTrade
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October 23, 2011, 10:38:02 AM |
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He seems to think that Bitcoin was conceived as a tax avoidance vehicle.
We don't design economic activity with the primary objective to make it easy for government to collect tax. We design it to maximize productivity and profit. The tax collector finds a way to tax afterwards.
Also I don't see anything in the article to suggest that the author has an in depth understanding of money or of Bitcoin. Not sure why anyone would be listening to this guy's uninformed opinions.
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Membercoin - Layer 1 Coin used for the member.cash decentralized social network. 10% Interest On All Balances. Browser and Solo Mining. 100% Distributed to Users and Developers.
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mrb
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October 23, 2011, 11:47:02 PM
Last edit: October 23, 2011, 11:57:18 PM by mrb |
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a convoluted encrypted monetary unit whose complexity is beyond baffling to the layman. But he's probably right about this I'm afraid... The end-user does not need to understand every single detail. All he needs is: the software to show his balance, a button to send coins to someone's address, the advantages of Bitcoins explained to him (limited supply, assets cannot be frozen, Bitcoin cannot be shut down, no central authority), and how to secure his coins (keep wallet.dat and the computer safe). |
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FreeMoney
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Strength in numbers
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October 24, 2011, 12:33:00 AM |
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a convoluted encrypted monetary unit whose complexity is beyond baffling to the layman. But he's probably right about this I'm afraid... Old guy on Jekyll Island: This might not work, you know most people aren't going to understand. Another old guy: I don't think that's going to be a problem. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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Steve (OP)
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October 24, 2011, 12:51:37 AM |
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a convoluted encrypted monetary unit whose complexity is beyond baffling to the layman. But he's probably right about this I'm afraid... Old guy on Jekyll Island: This might not work, you know most people aren't going to understand. Another old guy: I don't think that's going to be a problem. Nice... "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." This time is different. |
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cbeast
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Let's talk governance, lipstick, and pigs.
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October 24, 2011, 12:52:40 AM |
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a convoluted encrypted monetary unit whose complexity is beyond baffling to the layman. But he's probably right about this I'm afraid... Old guy on Jekyll Island: This might not work, you know most people aren't going to understand. Another old guy: I don't think that's going to be a problem. Karma is a bitch. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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JeffK
Sr. Member
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Activity: 350
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I never hashed for this...
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October 24, 2011, 02:16:37 AM |
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Hehehehe he has absolutely no idea why Bitcoin is different, and thus I'm not surprised by his analysis. I'd be equally as skeptical of Bitcoin of it were just another Beenz.
The article even admitted he didn't know how Bitcoin worked... he's making guesses purely based on the recent price fall. This is a silly as guessing that Bitcoin will skyrocket purely based on a price increase. Maybe he should accept Roger's $10,000 bet?
Go ahead, great one, tell us what is so "different" about it, besides have significantly less sycophants than gold or liberty dollars |
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ssaCEO
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October 24, 2011, 02:23:00 AM |
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John C. Dvorak is notoriously bad at making tech predictions.
He was wrong about the keyboard and he's wrong about this! You're just saying that because it takes two hands to type your username on a dvorak keyboard... |
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BitterTea
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October 24, 2011, 02:48:30 AM |
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Go ahead, great one, tell us what is so "different" about it, besides have significantly less sycophants than gold or liberty dollars
I knew I had you ignored for a reason. You can not transfer gold over the internet (gold receipts are not gold). Liberty Dollars were centralized. When Liberty Services was raided, Liberty Dollars became irredeemable and worthless. |
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