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A comment on U.K. Abandons, for Now, Legislation That Would Have Banned End-to-End Encryption. Parent comment

Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by staplers on Wednesday September 06, 2023 @11:26PM (#37414407)
Bitcoin is an example of this already played out.

News cycle perpetuates bitcoin == bad so everyone you know just repeats "scam" and points to criminals.

Meanwhile the largest institutions and richest people are investing heavily due to its revolutionary nature. Just look at all the ETFs coming out (Blackrock, Fidelity, etc).

Once they are fully setup you'll see the news cycle change sentiment. Rinse, repeat, with any technology.

[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by re-thc on Thursday September 07, 2023 @12:02AM (#37414616)
> Meanwhile the largest institutions and richest people are investing heavily due to its revolutionary nature.

Is that why are they investing? Do investors care if it's revolutionary or that they just get high returns?

E.g. a lot of "coins" have promised high returns that were obviously not sustainable.

[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by staplers on Thursday September 07, 2023 @02:33AM (#37415450)
Feel free to reply what makes bitcoin bad in a way any different from other high tech.
[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by r_hoods_ghost on Thursday September 07, 2023 @03:34AM (#37415811)
Not the patent but... incredibly environmentally destructive by design. Utterly privacy violating as you're publishing every transaction you make for the world to see on a public ledger so now your neighbour (and government) get to know about your badger fetish. Non reversible transactions are an invitation to fraud and theft and make routine errors like overpayments and payments to the wrong address potentially disastrous. Not to mention the "problems" it claims to fix like instant, fee free transactions and easy international transfers have been fixed for many years in countries with modern banking systems (i.e. not the USA) Etc. Etc. Etc.
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Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by worik on Thursday September 07, 2023 @01:19AM (#37415018)
Just because "they" say it's bad, does not make it good

Bitcoin is bad.

Even a broken clock is right twice a day....

[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by onion2k on Thursday September 07, 2023 @02:31AM (#37415433)
Even a broken clock is right twice a day...

That would depend on how it's broken.

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Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by worik on Thursday September 07, 2023 @04:13AM (#37416073)
...hmmm

A broken clock can be right twice a day

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Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by staplers on Thursday September 07, 2023 @02:34AM (#37415455)
Feel free to reply what makes bitcoin bad in a way any different from other high tech.
[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by worik on Thursday September 07, 2023 @04:13AM (#37416070)
It is too volatile to be a useful store of value

Transaction costs are too high to be useful medium of exchange

The waste it generates, as its central operation to have artificial scarcity is definitely bad.

Bitcoin is very bad

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Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by thefurdrake on Thursday September 07, 2023 @09:05AM (#37418324)
Outcome.
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Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by andybak on Thursday September 07, 2023 @02:00AM (#37415255)
Nice try.
[ Parent | on HN ]
Re:U.K. Abandons, for Now, Legislation That Would Have Banne... by staplers on Thursday September 07, 2023 @02:33AM (#37415453)
Feel free to reply what makes bitcoin bad in a way any different from other high tech.
[ Parent | on HN ]