Re:Bizarre Shadowy Paper-Based Payment System Being Rolled O...
by logicallee on Tuesday February 18, 2014 @01:15PM
(#7259847)
My impression is that you completely misunderstood. (I only skimmed the article.)
The folly that is being held up to ridicule are the objections to bitcoin.
The means by which it is held up is to show that bills as a medium of exchange can be attacked just as strongly. People still use it. Nobody is going to make you go to the bank to give them $5 back, they use bills. And if you only have a $10 note, they'll make change for you.
This is directly what's being compared to bitcoin (for example) - by pointing out that whatever objections anyone might have against bitcoin (theft, etc), could be made - ridiculously - against paper currency.
The reason it is ridiculous is because the benefits of paper currency far outweigh the inconvenience stemming from using it.
Likewise, bitcoin can have tons of problems - but the benefits far outweigh them. That is the point being made.
The folly that is being held up to ridicule are the objections to bitcoin.
The means by which it is held up is to show that bills as a medium of exchange can be attacked just as strongly. People still use it. Nobody is going to make you go to the bank to give them $5 back, they use bills. And if you only have a $10 note, they'll make change for you.
This is directly what's being compared to bitcoin (for example) - by pointing out that whatever objections anyone might have against bitcoin (theft, etc), could be made - ridiculously - against paper currency.
The reason it is ridiculous is because the benefits of paper currency far outweigh the inconvenience stemming from using it.
Likewise, bitcoin can have tons of problems - but the benefits far outweigh them. That is the point being made.
"It is folly to criticize bitcoin".