Re:That which does not kill Bitcoin makes Bitcoin stronger
by hindsightbias on Wednesday February 26, 2014 @06:35PM
(#7309080)
Do you see it the same way you view goldbugs?
I can grok all sorts of reasons to speculate on gold, but I see that as speculation and not some rational investment that provides a greater value to society. It's ok, as long as it's a niche. The bitcoin rage seemed, IMO, to be about speculation wrapped in anarcho-libertarian talk about threatening the existing financial world. It's one thing to be a niche, it's another if it's destructive (whether it is capable of that or not, but just the perception).
I can grok all sorts of reasons to speculate on gold, but I see that as speculation and not some rational investment that provides a greater value to society. It's ok, as long as it's a niche. The bitcoin rage seemed, IMO, to be about speculation wrapped in anarcho-libertarian talk about threatening the existing financial world. It's one thing to be a niche, it's another if it's destructive (whether it is capable of that or not, but just the perception).
Some other thinking that makes me wonder about that: http://adviceunasked.blogspot.com/2013/12/bitcoin-what-again...
Fine to upend reality if you can produce a cogent explanation of how everything will work afterwards.