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by RemoteWorker
4189 days ago
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> Also on a sidenote, who's downvoting all the comments and the thread itself? This seems like a really cool project and it doesn't look like anyone's posted anything completely irrelevant here. Who else? Bitcoin haters and deniers like patio11. Such kinds of irrational and emotional people are everywhere, including HN. Keep in mind they can be good and logical at other things, but get emotional on one particular subject. Bitcoin shakes some of the foundations everyone on Earth has or has had at some point (like the concept of money, the justifications for inflation, etc.), and a lot of people don't like change. |
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really now...
> like the concept of money
Bitcoin is still money (which I would describe as a proxy for value with latency built in).
> the justifications for inflation
Other than eventually running out and deflating (probably a problem in it's own way), bitcoin doesn't address this problem.
What is bitcoin going to do to address fractional reserve banking, debt slavery, information asymmetry (insider trading), financial chicanery (selling debt-based products/toxic assets), which I would argue are bigger problems built into money as we know it. Nada that I'm aware of.
Why is bitcoin even less anonymous than traditional currency?
Why is it even more inequal (who has bitcoin? wealthy, technologically literate citizens of the first world) than traditional currency?
I agree that money sucks but bitcoin is hardly the solution we need.