- Impact
- 16,187
Our old friend Samit (@mwzd) brought this up on L.I.
Like Samit, I am not saying I agree but it does have an interesting perspective.
It's a good read no matter which side of the fence you're on.
https://adamcaudill.com/2018/06/21/bitcoin-is-a-cult/
Bitcoin is a Cult
Posted on June 21, 2018 by Adam Caudill
The Bitcoin community has changed greatly over the years; from technophiles that could explain a Merkle tree in their sleep, to speculators driven by the desire for a quick profit & blockchain startups seeking billion dollar valuations led by people who don’t even know what a Merkle tree is. As the years have gone on, a zealotry has been building around Bitcoin and other cryptocurrencies driven by people who see them as something far grander than they actually are; people who believe that normal (or fiat) currencies are becoming a thing of the past, and the cryptocurrencies will fundamentally change the world’s economy.
Every year, their ranks grow, and their perception of cryptocurrencies becomes more grandiose, even as novel uses of the technology brings it to its knees. While I’m a firm believer that a well designed cryptocurrency could ease the flow of money across borders, and provide a stable option in areas of mass inflation, the reality is that we aren’t there yet. In fact, it’s the substantial instability in value that allows speculators to make money. Those that preach that the US Dollar and Euro are on their deathbed have utterly abandoned an objective view of reality.
More...
This is not the opinion of NamePros or any of it's employees.
It is just a perspective I thought worth sharing.
Peace,
Kenny
Like Samit, I am not saying I agree but it does have an interesting perspective.
It's a good read no matter which side of the fence you're on.
https://adamcaudill.com/2018/06/21/bitcoin-is-a-cult/
Bitcoin is a Cult
Posted on June 21, 2018 by Adam Caudill
The Bitcoin community has changed greatly over the years; from technophiles that could explain a Merkle tree in their sleep, to speculators driven by the desire for a quick profit & blockchain startups seeking billion dollar valuations led by people who don’t even know what a Merkle tree is. As the years have gone on, a zealotry has been building around Bitcoin and other cryptocurrencies driven by people who see them as something far grander than they actually are; people who believe that normal (or fiat) currencies are becoming a thing of the past, and the cryptocurrencies will fundamentally change the world’s economy.
Every year, their ranks grow, and their perception of cryptocurrencies becomes more grandiose, even as novel uses of the technology brings it to its knees. While I’m a firm believer that a well designed cryptocurrency could ease the flow of money across borders, and provide a stable option in areas of mass inflation, the reality is that we aren’t there yet. In fact, it’s the substantial instability in value that allows speculators to make money. Those that preach that the US Dollar and Euro are on their deathbed have utterly abandoned an objective view of reality.
More...
This is not the opinion of NamePros or any of it's employees.
It is just a perspective I thought worth sharing.
Peace,
Kenny
