Lol. David Gerard *roasted* you on this one. You really should have come to the table with more than just the current propaganda material!

@roberth9814

2 жыл бұрын

It’s not propaganda, it’s basic engineering and economics. Lauding won’t undo that

My new favorite thing is David ripping to shreds the bullshit arguments from crypto pushers

@bobdooley100

2 жыл бұрын

Me too Aaron, just discovered him 8)

If you drink a shot every time that the counter argument is “it will be solved eventually”, you will end up crawling naked on the street

20:38 Bitcoin is more like cash, mostly for small transactions. Average fee/txn: $15.

She said blaming bitcoin when users are hacked is like blaming the dollar when banks gets robbed. No, the difference is that bitcoin forces people to be their own bank or to trust the exchanges. So if you get hacked, you can blame bitcoin for forcing you to avoid trusting real banks where your money is much safer. Like David said, bitcoin is like a super strong steel door installed in a cardboard wall.

@sudevsen

2 жыл бұрын

Exactly,you're getting hacked and not getting justice cause of unregulated design which is part if the blockchain design itself. Same with inability to purge or rollback transactions,that's a blockchain design issue.

I actually agree with the Bitcoin critic David Gerard. You can't just pick a random successful technology and compare it with Bitcoin. My question to Bitcoiners this year 2024 is: What is the economic input of Bitcoin and the output? Buying Bitcoin is not a viable economic input, because you think you will earn later from what? From people who buy more Bitcoin coins? Then it is a ponzi scam. Bitcoin needs to be useful economically, buying and selling Bitcoin is not an economic activity at all, unless it's a physical object that you can resell.

@TheSecularHumanist

3 ай бұрын

The way I ask this question is, “Is the Bitcoin currency or a stock?”. Unless there are practical uses than buying and selling for speculation and more speculation due to some kind of a bull cycle,the question remains. If it is a stock/commodity the discussion about technology is useless because now you have to accept 1000 other alt coins like Ethereum etc., or some other rare coin.

Members of the crypto cult make the word “eventually” do a lot of work. “It’s just gonna take some time”. LOL

@TheSecularHumanist

3 ай бұрын

It is already over 15 years. The size of the cult is not growing.😂

David's book is great and very incisive history of blockchain's history. Its a complete clown show of scammers and do-gooders and lots and lots of energy expenditure.

Another dilemma to Bitcoin proponents is how do you handle fraud? If you can't solve this problem, then it is not going to be trusted. Another dilemma, do you want Bitcoin to be government-resistant from censorship? This only works if you don't work and attach yourself with the government. That means you are not to use government-issued fiat currency, if you use Government's money, then you have to follow governmental regulatory rules including handling fraud.

Crypto of today is a great alpha, let’s not pretend it’s more than that

" Governments don't print money off the top of their head, whenever they feel like it.." ? Haha David, you're not paying attention to the new normal.

@sudevsen

2 жыл бұрын

Govts that want to be stable still don't. The problem isnt that money printer go brr,the problem us that's it works selectively(always for the 1%)

@TheSecularHumanist

3 ай бұрын

Price of bitcoin coin went from 6k to 60k to 31K, then back to 60k to 16k to 73K to now at 63K. All this in 2 years. How stable is this?

comparing bitcoin with internet is idiotic

@gtdcoder

2 жыл бұрын

Yes. The internet connected together existing technologies. Bitcoin is an attempt to replace existing technologies and systems. And it will ultimately fail.

@redhotbits

2 жыл бұрын

@@gtdcoderbitcoin is just a decentralized database open source patched so it imitates a currency. it is first currency in history that is a product with no value. gold was a currency and a product but had value

@TheSecularHumanist

3 ай бұрын

They usually mean blockchain but nevertheless your point is valid. Actual internet can process millions of events per second. My Bitcoin purchase took days 😂. Why would anyone want to build internet on some slow tech? And what problem is this even solving? This is clearly a solution in search of a problem.

Gerard implies to much and always begs the question. I can also just look at one part of Bitcoin, that I don't like and ignore the things, that debunk my point of view. He critics some phenomena or maybe even viewpoint-sects of Bitcoin to criticize the movement and project as a whole. His 'criticisms' were washed out long ago before he even started mentioning them.

David Gerard seems a nice guy, but unfortunately for him, he is on the wrong side of history. Feel bad for him.

@haplotoorop3254

2 жыл бұрын

Everyone that invests in bitcoin is doing for themselves. Not for the greater good.

@fileboy2002

Жыл бұрын

Can you elaborate on that?

@TheSecularHumanist

3 ай бұрын

What is the right side of history? Where is the Bitcoin adoption now. After 15 years this is still speculation. Especially in the US or the first world.? May be struggling nation can use Bitcoin as a dollar because buying US dollar is not possible in the open market.But the volatility works against that argument as well.

@iulianserban10

3 ай бұрын

@@TheSecularHumanist we are all speculating my friend. in almost any aspect of life, true that risks are higher or lower and is a spectrum. imagine if a new monetary system would be introduced and traded 24/7 in a free market, which is not well understood, don't you think that would be volatile?

@TheSecularHumanist

3 ай бұрын

@@iulianserban10 speculating on the price alone whether it goes down or not without any value of its own is plain and simple gambling. Not all speculations are the same.