Hacker News new | ask | show | jobs
by drewblaisdell 4592 days ago
Google invested in Buttercoin (buttercoin.com).

You don't understand the virtual currency space. There are many good arguments against virtual currencies or bitcoin specifically, but the lack of Silicon Valley interest is absolutely not one of them.
1 comments
fat0wl 4592 days ago
It's not that I am against virtual currency and think there is no interest in it -- I just think the Bitcoin scheme is so f__ked that respected corps don't wanna be involved.

I'm not surprised at all that Google invested in an alternative. In fact, maybe that will catalyze Bitcoin's demise.

link
iand 4592 days ago
You are mistaken if you think it's an alternative. From their site: "Buttercoin is a free, white-label bitcoin exchange"
link
fat0wl 4592 days ago
eh true i didn't click the link i assumed from the name since there are so many wannabes showing up.

But again, it doesn't look like Google is accepting Bitcoin in exchange for their services. They just invested in a company that is going to try to make cash skimming transaction fees off the ecosystem and probably converting to USD.

link
drewblaisdell 4592 days ago
I think he is either a troll or has an axe to grind about this issue for some unmentioned reason.
link
fat0wl 4592 days ago
Neither. I'm a signal processing engineer & generally a good guy. And I think the digital currency ecosystem is interesting but I do think that Bitcoin's system (carrying out automated rules from benevolent leader) is kindof a farce.

But I don't even care about that so much -- the reason I have an axe to grind is because all the interest seems to be fueled by greed. So these hypocrites rail against "the systemmmm" but really all they want is a new system in which they start out with the upper hand -- which they believe they have due to early adoption, investment in mining rigs, and collective delusions of bidding wars / price will go up up.

If Bitcoin were now the same way it was back in the day when it was a nerd trying to buy a pizza because he believed in the merit of the technology, I would think that is pretty endearing. But let's all just admit it -- it's NOT. It's a platform of collective greed and anyone who can resist the urge to try to make a buck off it would probably do better to go gain some knowledge and try to accomplish something more interesting than a "futristic-anarcho" (whatever) copycat version of Wall Street.

link