Another company shilling a coin, hoping to convince many more greater fools. Only goal of this article is to convince you to buy, and to transfer a part of your wealth to them.
Yes it is. Part of the art of becoming a good contributor is learning to select what one can respond meaningfully to, and to leave what merely provokes a pre-existing reaction. We're all working on learning that.
I love how people will always find a reason to remain cognitively dissonant. At first it was just people doing illicit activity, then it was only a tulip bubble, then it's just that retail investors are playing the greater fool. Not that there's financial professionals advocating for it you say that they just want your business. At what point do you consider you may be wrong? What will you say when banks start holding Bitcoin reserves? What will you say when countries are holding Bitcoin reserves? Serious question, because with the way people on HN are acting, it seems like your heads will remain in the sand for eternity.
Usually, when someone makes a wrong prediction, it doesn't have huge consequences. But if you knew about Bitcoin early on and didn't research or understand it and wrote it off, your opportunity costs are pretty significant.
It doesn't matter how many use cases or rationales people give, they are still going to be stuck on the negatives. You'd expect HN to understand that everything has tradeoffs, both pros and cons. Is Bitcoin perfect? No! It needs to improve costs and speed through L2, it needs to find ways to reduce energy consumption and use green energy as much as possible, we need to make sure that the money flowing in things like Tether is legitimate. There's still lots of work to be done and it's still just 12 years into it's existence, so you expect price volatility and lots of hype as people are learning and investing into it.
This isn't a case of who's right or wrong. The success of Bitcoin is entirely based on belief, which doesn't have a right or wrong answer, particularly this early in its history.
Bitcoin is successful if enough people agree to believe that it is valuable. And that's the period we're still in now: trying to determine if this thing is valuable and by how much (hence the price volatility).
I mean, that's a poor man's excuse because you can say that about anything. USD is only worth something because enough people believe it is, same with gold, same about anything worth value.
Yes, surely these already billionaires whose entire business revolves around publishing analysis on assets, and who don't claim to be holding any major stake in BTC, could only be writing about it because they are shilling...
The only incentive to write articles like this is to convince others to buy, consequently making more money yourself. This is a pitch, not a fairly supported argument.
>The only incentive to write articles like this is to convince others to buy, consequently making more money yourself.
Given that you're not the author and so not privy to their motives, I don't see your support for your assertion that personal profit is the only possible incentive to have written the article.
I mean, they are an investment firm, whose goal is to make money. Personal profit is literally their only motive.
Another thing to note here is that these firms can shill any coin they like without any market manipulation accusations from the SEC, were they to do this for any other asset.
The incentive is to appear informed about an important trend in their industry. It's a pretty good analysis. Do you have a problem with a specific piece of his content?
The issue they have is that they weren't against bitcoin. Clearly their preconceived notions are preventing them from discussing and looking at it objectively.
Waiting for PragmaticPulp to join the conversation.....
https://news.ycombinator.com/newsguidelines.html