My favourite quotes from Bitcoin critics and their flaws

[SquirrelJulietGarden]

My favourite quotes from Bitcoin critics and their flaws

There are overwhelming critics against Bitcoin since 2009 and you can find them in many sites. It takes you considerable time for finding most noisy and impressive critiques among abundant ones.

Some places for finding such critiques.
Endthefud.org
Common critiques.
Bitcoin obituaries (or Bitcoin is dead).

Bitcoin have not died by critiques while technically Bitcoin is a most secured blockchain and cryptocurrency to use.

[Cryptomultiplier]

My favourite quotes from Bitcoin critics and their flaws

There are overwhelming critics against Bitcoin since 2009 and you can find them in many sites. It takes you considerable time for finding most noisy and impressive critiques among abundant ones.

Some places for finding such critiques.
Endthefud.org
Common critiques.
Bitcoin obituaries (or Bitcoin is dead).

Bitcoin have not died by critiques while technically Bitcoin is a most secured blockchain and cryptocurrency to use.

All these critics so far spoke out of a point made from arguments and Bitcoin had to develop and innovate to proof these counter-arguments wrong.
Some of the sayings from the critics at the time revolved around Bitcoin having no intrinsic value and not backed by anything, doesn't have a great efficient payment system, it is only used by criminals and money launderers and used for speculation mostly. It was also being argued at a certain time that it bears same similarities with a ponzi scheme.

Am glad all these counter arguments got proven wrong because Bitcoin performed well and rose to meet expectations and some critics eventually are fans and investors through various investment channels like the spot ETF size that has risen over the years to support large institutional digital currencies investment.

[davis196]

Warren Buffet calling Bitcoin "rat poison" is not even a form of criticism. It's just insulting Bitcoin without providing any valid argument and proof about why Bitcoin is "rat poison". It's like me calling the US dollar "toilet paper" without showing any proof that the US dollar is actual toilet paper.
Should we even care about Bitcoin haters hating on Bitcoin back in 2017. The hate around Bitcoin was way bigger back in the day. Maybe you should focus on the BTC haters and critics in 2025, not 8 years or ago. The FUD and hate against crypto was thru the roof back then.

[Fiasem20]

Bitcoin has never stopped putting these critics to shame,I enjoy it when they fool themselves.I also find it interesting when bitcoin enthusiasts make gest of them on the internet.Words like "Bitcoin would crash" and "Bitcoin would fail" are longer interesting to the ear anymore because these statements has always been right from day one bitcoin has been in existence.I strongly believe that these bitcoin critics are economists who are looking for a way to promote their assets and a means to make their businesses known on the internet.If Bitcoin would crash or fail in the future, these Bitcoin critics should leave the fate for Bitcoin enthusiasts,but one thing I know is nobody knows the future.

[ColdLava40]

It's hilarious how many of these Bitcoin critics secretly hold some Bitcoin themselves while publicly claiming it's a failed technology. This is why you should never trust someone's opinion without seeing for yourself.

They used to call Bitcoin all sorts of names, and I wonder how surprised they will be when it went above $100,000 and even higher.

[arwin100]

You can also add what Bill Gates said about Bitcoin.

If You Have Less Money Than Elon, You Should Probably Watch Out

Source https://www.cnbc.com/2022/03/09/bill-gates-on-bitcoin-if-you-have-less-money-than-elon-watch-out.html

This is also what Joseph Stiglitz said about Bitcoin.

successful only because of its potential for circumvention [and] lack of oversight,” and has called for it to be banned.

Source https://www.weforum.org/stories/2017/11/joseph-stiglitz-bitcoin-ought-to-be-outlawed/

And this is the statement drop by Charlie Munger against Bitcoin

Bitcoin as disgusting and contrary to the interests of civilization.

Source https://www.businesstoday.in/latest/trends/story/rat-poison-will-go-to-zero-charlie-mungers-criticism-of-cryptocurrencies-through-the-years-407524-2023-11-29

Looking at the success gotten by Bitcoin it expose the hypocrisy of these people. Bitcoin proves them that they made wrong assumptions and their traditional knowledge is not intact with latest innovation.

[Furball808]

From: Michael Saylor’s X account @saylor

#Bitcoin days are numbered.   It seems like just a matter of time before it suffers the same fate as online gambling.

https://x.com/saylor/status/413478389329428480?s=61

Believe it or not, one of the biggest holder of bitcoins today once had an opinion on bitcoin’s longevity. This shows that there were really a lot of people who doubted bitcoin back then but now have changed their minds since they saw its success.

His tweet is also funny because online gambling is now booming and even with the help of bitcoin or crypto. 

[Alpha Marine]

What's even funnier is that the old man is extending his Bitcoin begging bowl to generous Bitcoin supporters for some spare Satoshis. It seems deep inside him he loves Bitcoin. It's just that he missed the train. He felt bitter about it and, as a proud old man, he can't swallow the fact that he's proven wrong and lost a huge opportunity.

Apart from that, the old man loves to meet Bitcoin personalities, speaks in Bitcoin-themed gatherings, and so on. This old man is a gold bug but he's also a Bitcoiner by heart. He's just shy.

He talks more about bitcoin more than even open bitcoin lovers. The only time I see an update about something says, it's about bitcoin. If he hates bitcoin that much and he believes it's so useless and vulnerable then why does he keep talking about it all the time and saying the same thing over and again? He's a funny human. I usually just scroll past him whenever I see his statements anywhere.

I blame those that give him attention and make him relevant. Why would they decide to give him sats when he constantly talks against the coin? They shouldn't try to persuade him or convince him of anything. Let him believe of say what he wants to say.

[Rabata]

What is the current situation of those who made negative attitude about Bitcoin in the past? I believe that many of them may regret it, while some are secretly accumulating Bitcoin but in the future they will make negative comments about it. We have to accept the reality. Bitcoin has been increasing since 2009. Its price will increase further in the future, but what will those who criticize Bitcoin? Many may have realized their mistake and are trusting Bitcoin, but there are some who want to put themselves against Bitcoin despite understanding. I think they are the biggest fools in the world.

[Japinat]

Bitcoin has never stopped putting these critics to shame,I enjoy it when they fool themselves.I also find it interesting when bitcoin enthusiasts make gest of them on the internet.Words like "Bitcoin would crash" and "Bitcoin would fail" are longer interesting to the ear anymore because these statements has always been right from day one bitcoin has been in existence.I strongly believe that these bitcoin critics are economists who are looking for a way to promote their assets and a means to make their businesses known on the internet.If Bitcoin would crash or fail in the future, these Bitcoin critics should leave the fate for Bitcoin enthusiasts,but one thing I know is nobody knows the future.

Saying bitcoin would crash and bitcoin would fail, that happened every year. But the thing is, it always recovers and even hit its new all time high. We won't see bitcoin price surging high and skyrocket if it won't crash or fail in the first place. So I don't really see it as a negative criticism but its actually part of bitcoin. With bitcoin's high volatility, seeing its price crash or fail at times is just a normal scenario. The good thing is, its just temporary, bitcoin will always find its way to recover and prove to us that it has indeed high potentials that will put bitcoin to where it should be, even higher than $100k.

[JoyMarsha]

Does anyone still hold all these criticisms in mind to remember or give reference to them, that all the criticisms said about Bitcoin by this set of people are true? I don't even remember or keep a record of all these criticisms again. I believe other people do the same, not remembering that Bitcoin has been criticized this way in the past.

What I found out about criticism is that, it doesn't last for too long if it is not true. All these criticisms about Bitcoin have been forgotten. Nobody remembers or talks about it again

[yhiaali3]

Thank you for all these funny quotes. I expect they'll laugh at themselves if they see them and remember the nonsense they spouted about Bitcoin years ago.

But who knows, maybe they'll become active again these days given the significant correction in Bitcoin's price. They are always active during big price drops to spread their nonsense about Bitcoin crashing, or that it is a bubble, or that it is worthless, and all that nonsense that we have come to know very well.

[Shineup]

Yes those economists have been criticizing Bitcoin for years and while criticizing
Crypto have included Bitcoin too.

They have since then come around to some degree to understanding the benefits
Bitcoin can offer and more importantly to them how they can profit from it.

Yeah, in as much as criticism is part of every society I still feel we should be careful in our judgements while criticising something as transformative as Bitcoin, these are prominent men for crying out loud and so many people take them for their words.

Just imagine the number of there followers they might have deceived with their baseless criticsm over the years. Personally, I can never trust the words of these individuals regarding finance and business, there statements are misleading and can cause you a life changing opportunity.

Majority of those critics must have come to realize themself and have been privately supporting Bitcoin because Bitcoin has proves them wrong over times, pride wouldn't allow them come up openly because the victory Bitcoin has over their blind assumptions are highly unexpected, individuals that has been mislead over this years don't have to blame those critics because they only offers financial and investment advice which final decisions belongs to the individual for every decisions will be always be succeeded by it consequences, and while it is important to do a personal research other than relying on advocates for finance and business.

[btcwoot]

interesting quotes but maybe these guys were just jerking everyone around as they purchased more. The manipulation game is questionable when you look at the bitcoin chart over time.

[Lida93]

Do not forget about what Jamie Dimon said that bitcoin is like "pet rocks". Although there's a sudden change of heart on him which is good or he didn't really changed at all.

And all that he has said negatively about bitcoin is part of his theatrics to make people scared of buying it.

JPMorgan CEO Jamie Dimon Once Called Bitcoin A 'Pet Rock' — Now He Says Crypto, Stablecoins Are 'Real, We'll All Use Them'

In the early times of the internet it faced a lot of criticisms, some were sounding factual with their criticism and making sense with their negatives saying, and it discouraged a lot of people who were habituated to the traditional way of the system of things then, and many didn't bother to philosophise about the problems the internet was intended to solve. Similar to the case of bitcoin, years after today even those who criticise the advent of the internet now significantly make use of it in every day of their businesses.

Of bitcoin, give people time and even the critics would come around but out of shame for their past castigations they wouldn't want to come directly, but they still do anyway.

[Lanatsa]

Yes those economists have been criticizing Bitcoin for years and while criticizing
Crypto have included Bitcoin too.

They have since then come around to some degree to understanding the benefits
Bitcoin can offer and more importantly to them how they can profit from it.

Yeah, in as much as criticism is part of every society I still feel we should be careful in our judgements while criticising something as transformative as Bitcoin, these are prominent men for crying out loud and so many people take them for their words.

Just imagine the number of there followers they might have deceived with their baseless criticsm over the years. Personally, I can never trust the words of these individuals regarding finance and business, there statements are misleading and can cause you a life changing opportunity.

Majority of those critics must have come to realize themself and have been privately supporting Bitcoin because Bitcoin has proves them wrong over times, pride wouldn't allow them come up openly because the victory Bitcoin has over their blind assumptions are highly unexpected, individuals that has been mislead over this years don't have to blame those critics because they only offers financial and investment advice which final decisions belongs to the individual for every decisions will be always be succeeded by it consequences, and while it is important to do a personal research other than relying on advocates for finance and business.

Most of those early critics only looked at bitcoin through the narrow lens of traditional finance they ignored its technological foundation and the freedom it offers beyond government control at first they mocked it then they ignored it and now many of them are quietly investing behind the scenes or finding ways to benefit from it through institutional products like ETFs.

Bitcoin has always challenged conventional economic thinking it’s decentralized transparent and runs on code not politics and that’s exactly why some economists feared it because it disrupts the structure that keeps traditional finance in control. The sad part is many ordinary people listened to these so-called experts and missed out on early opportunities if they had done their own research instead of following the opinions of public figures they might have built wealth or at least understood how the system works that’s why independent thinking is important especially in finance no matter who’s speaking it’s better to verify information yourself than to rely entirely on authority figures.

[Die_empty]

Having seen many criticisms from Nobel Prize winners, professors, renowned economists, successful businessmen, policymakers, technocrats, etc. I have concluded that they lack knowledge about Bitcoin. The majority of what they said about Bitcoin turned out to be lies. I prefer to listen to an unknown reputable member of this forum than to take advice about Bitcoin from these outsiders.

Let me add Donald Trump who said Bitcoin is a scam. He further said that bitcoin is not money/url] highly volatile, and based on thin air.

Those who might have believed what Trump said about Bitcoin a few years ago would be regretting it because they missed an opportunity to buy.

[Sticky Bomb]

I won't be surprised if he own some Bitcoin.

Surely Peter Schiff does own some Bitcoin, he used his birthday as an opportunity to further call for a personal strategic Bitcoin reserve and shared his address bc1q0vxwxsmkjy5t95qpc0mfznl59928grsr4wfa97 which currently holds $4,874 from donations.

Peter Schiff frustration in Bitcoin may have stemmed from his story of forgetting his Bitcoin wallet password which made him bitter and turned him anti-Bitcoin. He's more of a gold fanatic and thinks very lowly of Bitcoin

[goldkingcoiner]

A lot of the negativity about Bitcoin comes from shitcoin experiences. But their mistake is equating shitcoins to Bitcoin. I think that is the main problem.
And if people like Peter Schiff were talking about shitcoins going to zero inevitably, I would agree 100%.

But these people obviously do not know the difference nor researched deeper on the topic.

Their opinions are not worth listening to and their quotes are not worth regurgitating.