Fidelity Bitcoin Criticisms Paper

[Frederick Foresight]

to be clear, this report is pro bitcoin. It just tackles common criticisms such as it uses too much energy, there will be a bug, it’s not good for micro payments, etc.

My mistake. I only went by the criticisms you quoted, not their excuses for it. I think you know my stance on the matter. And so, after clicking on the link and briefly reviewing their refutations, I had to "unlike" your earlier post. Nothing personal.

 

[GlobalMacro90]

My mistake. I only went by the criticisms you quoted, not their excuses for it. I think you know my stance on the matter. And so, after clicking on the link and briefly reviewing their refutations, I had to "unlike" your earlier post. Nothing personal.

so I guess you are just ignoring Fidelity’s opinion on the matter?

 

[Frederick Foresight]

so I guess you are just ignoring Fidelity’s opinion on the matter?

Yes.

 

[RedDuke]

I think Bitcoin is a high-tech pet rock, like every other cryptocurrency. To me this makes it wobbly:

If pet rock had a way to be traded in fake money, its valuation would have been in the same trajectory as crypto.

 

[Frederick Foresight]

If pet rock had a way to be traded in fake money, its valuation would have been in the same trajectory as crypto.

Seems likely. And although for a time it was all the rage, interest in it eventually dropped like a rock.

 

[GlobalMacro90]

If pet rock had a way to be traded in fake money, its valuation would have been in the same trajectory as crypto.

you think if there was a stable coin for a pet rock it would be worth 600 billion right now?? lolololololol

 

[GlobalMacro90]

Seems likely. And although for a time it was all the rage, interest in it eventually dropped like a rock.

you can’t argue that interest in bitcoin is dropping, no matter what you think about it.

 

[Frederick Foresight]

you can’t argue that interest in bitcoin is dropping, no matter what you think about it.

That's not what I wrote. I was referring to the life of pet rocks and extrapolating the scenario to pet cryptos.

You clearly are a proponent of crypto. Why not take the time to read this book:


If you ever do, I'd really like to know what you think of it. It pretty much cemented my views on the subject matter.

 

[GlobalMacro90]

That's not what I wrote. I was referring to the life of pet rocks and extrapolating the scenario to pet cryptos.

You clearly are a proponent of crypto. Why not take the time to read this book:


If you ever do, I'd really like to know what you think of it. It pretty much cemented my views on the subject matter.

this is on my reading list. I am definitely going to check this book out. Did you read it? I would love to hear your feedback as well. My bias going into this is that most of crypto is bullshit, but bitcoin is a huge deal. Time will tell

 

[Frederick Foresight]

this is on my reading list. I am definitely going to check this book out. Did you read it? I would love to hear your feedback as well. My bias going into this is that most of crypto is bullshit, but bitcoin is a huge deal. Time will tell

Yes, I just finished reading it this last weekend. I was already a crypto skeptic, and only more so after reading the book.