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Comment by spot | Hacker News Reader

When he showed the graph of the number of tweets vs the number of bitcoins he lost me. This is an apples and oranges comparison. http://bitcoinreport.blogspot.com/2011/01/bitcoin-transactio...

It's just FUD.

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What he wanted to point to with the twitter stats is the concept of exponential growth of economic (and most other complex) systems.

and if you look at the transaction graph for bitcoin it could just as easily be the start of the twitter graph.

He's talking about the amount of currency in circulation, not the aggregate transaction volume. And BitCoin cannot follow the Twitter graph, because the money supply growth is controlled algorithmically. You are incorrectly interpreting the graph (which, to be fair, is a bad analogy).

right it's a bad analogy (apples to oranges) that's what i said.

It's FUD because you misinterpretted one statement out of a multi-hundred word essay?

it was one of the few quantitative things he said the rest was emotional and obviously fear based.

The point is that as twitter has become more popular (more people using the service), the volume of the service's transactions - tweets - has risen exponentially.

The volume of bitcoin transactions cannot rise above a certain level if the supply of bitcoins is fixed, which would seem to prevent mass adoption.

this is simply false, and that's why it's FUD. the volume can rise as they are traded more often.

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