Re:The Bitcoin bubble – Greater fool theory
by nikcub on Thursday November 09, 2017 @10:04AM
(#15662949)
> > Are they mad because they feel like they missed out?
> Eh, I doubt it.
I think there is something to this. If you've been on HN for 5+ years and have followed the progress of Bitcoin, but never dived in - but then gone on to watch non-tech people make 10x+ returns while not understanding the currency - there must be something about that which grates some people.
I also think it's easy to dislike the "down with central banks", "fiat money is fake money" faction of bitcoin
Re:The Bitcoin bubble – Greater fool theory
by conanbatt on Thursday November 09, 2017 @04:31PM
(#15666011)
>I also think it's easy to dislike the "down with central banks", "fiat money is fake money" faction of bitcoin
Thats the most appealing part. Most people dont like the government, they just want it to do something different.
Yes.
> Are they mad because they feel like they missed out?
Eh, I doubt it.
> Does Bitcoin's success mean their loss (like the banking folks and the government establishment)?
I don't think so. It's not a zero sum game.
> Did people hate the internet this much in its early days?
Some parts of it, yes.
In the end, Bitcoin is still a wildly insane proposition and technology. It forces people to question longly held assumptions (on a millenium scale) of what money is. HNers are probably more likely to question, critique, and debate new things, and Bitcoin doesn't get a free pass simply because it's cool and exciting.