Comment by fat0wl | Hacker News Reader

Comment by fat0wl | Hacker News Reader

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Heh I agree with your concept a bit, I was thinking about that myself. But here's the counter -- WHO REALLY WANTS TO RELIVE THE DARK AGES?!!

Great headline: "Crypto-Currency of the Future Promises a Return to Medieval Economics via Anonymous Self-Proclaimed King"

Even in those systems, people had to WORK to get that $$. We're kindof seeing that now with those setting up the Bitcoin infrastructure, but early adopters are richer than they at this point -- just by trading for a couple magic beans before the masses decided they HAVE TO HAVE THEM!!!

I think the coolest thing would be if cryptocurrency folks set up the Bitcoin ecosystem decided there was a BETTER digital currency, and just utilized that same tech stack with the better product. F--k Bitcoin it was an experiment and it can rot

I don't understand, they made a very risky bet and it paid off. Would you have considered compensating them if the value went to 0?

Was leaving your computer (or your work computer) on over night a few years ago really such a huge risk?

eXACTLY! ughhhhhhh 100x yes. i'm always given this "risk" argument and I think "what's the risk in investing pocketchange & leaving on your pc.... it's not like you founded a start-up out-of-pocket".

It's just a more ingenious version of Amway, because rather than pushing products around & trying to have to prod people into trying their hand at sales, they are being sold THE IDEA OF MONEY! And if people decide to buy that money, the value of the originator's money increases. And to make them feel as if they are equals he says "Oh well if you want you can work on these hash equations and free money will appear" but as long as it's propelling the greed for this "money" it will never hurt the value of his stash.

Sad stuff. and the greatest beneficiaries are probably the criminal organizations who use it. Half the reason i wanna see it crash is because it will wipe a lot of bank accounts used by gambling organizations etc. who prey on misery to begin with.

The risk is that if the startup/technology (Bitcoin) failed, you just wasted your time/effort in setting up something useless. There must be thousands of these proposals that you will face in your life.

Bitcoin is the risk I knowingly didn't take, because I didn't think it would amount to anything in the future.

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