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Author Topic: "Don't buy bitcoins"  (Read 15065 times)
BCEmporium
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April 23, 2011, 11:43:25 PM
 #81

Just been watching the vid - part of it without fall asleep -, and yes... that guy is up to be mocked. Not only he isn't fluid on explanations, he keeps hanging the speech to read the paper, which indicates he has no idea whatsoever of what he is talking about, as is also redundant, keep saying the same thing over and over by different words.
To the end, what he states to be the "flaw" of BTC is the same one could apply for FOREX and in the end he doesn't appear to know "how things work". I can trade BTC with B and B with C, as I could trade EUR for USD with B and B trade those USD back to EUR with C...
But I can also trade USD for carrots, or EUR for carrots or... I guess this one would shock that guy... BTC for carrots. As long as both parts agree to do business in one determinate currency or good (if it is direct trade) that's a trade.
The only difference to BTC is that while I'm forced by the government to accept EUR (in my case) as a mean of payment, nobody can force me to accept BTC, but this doesn't mean that either EUR will hold its value or BTC will drop its, just means I'm forced to accept EUR.
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April 23, 2011, 11:47:32 PM
 #82

The fact that he speaks of carrots as a currency-worthy commodity speaks volumes on his understanding of what consists in a good medium of exchange.

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tomcollins
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April 23, 2011, 11:54:51 PM
 #83

I think being mocked a bit is a good punishment for being a smart ass.

If you think you are clever enough to lecture people about stuffs, you have to assume it.


A lot of people are doing and writing very smart things, and yet they don't feel the narcissic urge of showing their face on Youtube.

+1
 Apparently some people did quite the opposite of what this guy is saying.

I think the problem isn't whether he is a "brother in arms" but rather that he is close minded. As someone stated, his behavior indicates that he is "like minded" with anarchist or libertarian ideals not because he embraces them but rather because he nurtures anti government feelings, for whatever reason. I'm a gold bug myself yet I adopted Bitcoin at first sight, and I'm pretty sure I'm not alone here, which certainly prove the 2 aren't incompatible. Also, I'll take a wolf skull with those bison bones.

Bitcoins and Gold have a lot in common.  That surely is not a coincidence.  There are two main advantages of Gold.  1) Track record/public knowledge  2) The inability to create more  Gold-like commodities.

Bitcoins are superior to Gold in that I can send them easily over the internet, verify them easier, and break them up more- just to name a few things.
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April 23, 2011, 11:55:26 PM
 #84

This makes me think of an old dilbert strip. Why do all economists look like flood victims?

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April 24, 2011, 03:03:34 AM
 #85

What are they going to say if bitcoin reaches parity with silver and eventually gold ? Will their heads explode ?
mizerydearia
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April 24, 2011, 06:01:16 AM
 #86

http://weusecarrots.com/
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April 24, 2011, 06:02:35 AM
 #87



You should post that to http://bitcoin.witcoin.com/p/1279/Dont-buy-bitcoins
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April 24, 2011, 06:17:24 AM
 #88



http://weusecarrots.com/


 Grin Cheesy Grin Grin Grin Grin Grin Grin Grin
Raoul Duke
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April 24, 2011, 08:05:02 PM
 #89

Well, someone made a real response video and posted it on Youtube.

The post just arrived at CoinBits.com

Check it out here http://coinbits.com/video/re-dont-buy-bitcoins/

grondilu
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April 24, 2011, 08:45:52 PM
 #90

Well, someone made a real response video and posted it on Youtube.

The post just arrived at CoinBits.com

Check it out here http://coinbits.com/video/re-dont-buy-bitcoins/

Not bad for a first reply.  I predict there will be more, but this one already does the job correctly.
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April 25, 2011, 05:32:15 AM
 #91

Well, someone made a real response video and posted it on Youtube.

The post just arrived at CoinBits.com

Check it out here http://coinbits.com/video/re-dont-buy-bitcoins/

I can never get to coinbits. The site always times out for me.
mizerydearia
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April 25, 2011, 10:47:19 AM
 #92

Well, someone made a real response video and posted it on Youtube.

The post just arrived at CoinBits.com

Check it out here http://coinbits.com/video/re-dont-buy-bitcoins/

I can never get to coinbits. The site always times out for me.

same; inaccessible for me also.
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April 25, 2011, 10:59:48 AM
 #93

Well, someone made a real response video and posted it on Youtube.

The post just arrived at CoinBits.com

Check it out here http://coinbits.com/video/re-dont-buy-bitcoins/

I can never get to coinbits. The site always times out for me.

same; inaccessible for me also.

Same here.

Anyway, I've posted a YouTube video yesterday (http://www.youtube.com/watch?v=zk5zs-hmVw4) that goes over a few of the problems with this guy's arguments, while (tempting as it may be) avoiding just plain mockery.

I (kind of) understand the points he's trying to make but, besides being fallacious ("currency needs to be either a consumer/producer good or legal tender" is a false dichotomy, as there are plenty of examples of successful currencies which are neither), his arguments aren't very well structured and his analogies suck. In reality, he doesn't even merit a response beyond mockery. The only reason why I did it was to try to counter his misinformation, in case someone actually takes his video seriously.
grondilu
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April 25, 2011, 11:04:22 AM
 #94

In reality, he doesn't even merit a response beyond mockery. The only reason why I did it was to try to counter his misinformation, in case someone actually takes his video seriously.

And you did a good job quite quickly.

Thanks.
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April 25, 2011, 05:34:07 PM
 #95


Genius!
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April 25, 2011, 06:46:59 PM
 #96

It would be funny to find out who the guy is. It should be put "wanted" somehwere..
If he is in the US, maybe PLATO can get to him on his road trip and convert him to bitcoins (selling for a few carrots as Plato needs food) Smiley

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tomcollins
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April 25, 2011, 07:05:11 PM
 #97

It would be funny to find out who the guy is. It should be put "wanted" somehwere..
If he is in the US, maybe PLATO can get to him on his road trip and convert him to bitcoins (selling for a few carrots as Plato needs food) Smiley

He's in Holland.  He's actually a nice enough guy (a few of my friends have met him before), just very, very wrong a lot.  Horribly misguided more than anything.  But he's very good natured and is still far better than a lot of people out there.  Just wrong, especially on this issue.

He is right that Bitcoins right now are highly speculative.  I'm not going to deny that.  But they have a *potential* to be very, very, very useful.  Right now, it's more of a novelty IMO.  There are a few things you can do with them and where they are great, but what you can do with them now is like what you could do with a PC when they first came out.  I'm sure tons of people thought they were worthless pieces of crap and overvalued, but enough people saw the potential and its easy to look at it right now.  People invested money into the PC market not because it *was* valuable at the time, but because they knew it had the potential to become *very* valuable.  This is why Bitcoins have me very interested, just seeing the potential and what could be, not because the landscape right now is that exciting, other than solving a really cool technical problem.  I'm sure there were some really smart people who didn't have the vision to see what PCs would become, but they still were wrong.
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April 25, 2011, 07:11:33 PM
 #98

Actually I agree the guy looked very likeable.

When writing "get him" I was interested to find out who he is, now knowing that you know him, even better: Now we may be able to explain a bit better what the benefits of bitcoins are.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

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tomcollins
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April 25, 2011, 07:45:42 PM
 #99

Actually I agree the guy looked very likeable.

When writing "get him" I was interested to find out who he is, now knowing that you know him, even better: Now we may be able to explain a bit better what the benefits of bitcoins are.

I am facebook friends with him.  I know exactly who he is, he's stayed over at a friend of mines house.  As I said before, there's no point in trying to convince him anything once his mind is made up.  He's still convinced Dick Chaney personally installed thermite in the WTC.
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April 26, 2011, 12:39:40 AM
 #100

Actually I agree the guy looked very likeable.

When writing "get him" I was interested to find out who he is, now knowing that you know him, even better: Now we may be able to explain a bit better what the benefits of bitcoins are.

I am facebook friends with him.  I know exactly who he is, he's stayed over at a friend of mines house.  As I said before, there's no point in trying to convince him anything once his mind is made up.  He's still convinced Dick Chaney personally installed thermite in the WTC.

bs. It was me. I was just overly balding that day

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