Hacker News Reader

Comment by 45h34jh53k4j | Hacker News Reader

No coiners. Its fine, we will listen to them protest for years and years, telling us it cant work, it isn't a real solution, etc, while we invent the future.

This internet thing will never take off, you need a box that screeches, connected to your phone all day long! I can't even get faxes while im 'online'. Pointless.

View on HN

Your attempt to equivocate the internet (and its impact) and blockchain is laughable.

I wouldn't say it's equivalent, after all, blockchain is a layer on the internet. But it is common for people to underestimate the impact of technology in the long term. Just as the dot com bubble left people disillusioned with the internet as a platform for commerce, so too is the current state of blockchain. It will continue to evolve, it will continue to grow, and something will rise up and change commerce in a dramatic way. I'd argue that the industry has already come a long, long way and it still has a long, long way to go.

Don't spoil their fun. They've been riding that false analogy to the bank for over a year now.

The early internet was shitty. No one is disputing that. Blockchain is also shitty, but the community doesn't know how to fix the problem.

The internet was consistently useful year after year, and more so over time. Bitcoin has been around for almost a decade and has pivoted from being a decentralized currency to being a quasi-decentralized store of value amidst a classic speculative investment bubble. It has actually gotten increasingly less useful over time.

Yet, in general, more valuable, thus increasing in usefulness over time. 1 bitcoin in 2018 is objectively more useful than a 2010 bitcoin, as it has more buying power.

So I would argue that any deflationary cryptocurrency will more likely be more useful over time as it has increased buying power. (But not necessarily value!)

That is such a silly and intellectually dishonest argument. The value of tulips in Feb. 1637 in Amsterdam was also quite high, but that didn't last, neither will bitcoin's valuations.

https://davidgerard.co.uk/blockchain/2018/04/05/debunking-bu...

Reply on news.ycombinator.com