Bitcoin ‘may not last that much longer,’ academic warns | Hacker News Reader

Bitcoin ‘may not last that much longer,’ academic warns

cnbc.com

21 pointsbreckenedge17 comments

So I’m supposed to believe that bitcoin is doomed because it’s environmentally unfriendly, the price is falling, and that there’s hundreds of competitors? These are all things bitcoin have faced before, and will continue to face.

- environmentally unfriendly - price is falling (or inversely more expensive) - hundreds of competitors

Insert: coal

Takes time for the status quo to adopt and learn.

That being said I don’t think that it’s going to be a bear market for btc, I don’t foresee BTC being big in 10 years, but 10 years is far from now…

If bitcoin is coal, then what's the crypto equivalent of fracking? The reason I say fracking is because that's what really made natural gas the preferred fossil fuel electricity provider (concerns about carbon dioxide helped, but aren't the primary reason).

Sol

LRC

Cry me a river, academics have said that for pretty much every year since 2011.

Exactly. I don't have a horse in the race, but every time Bitcoin was down, it seemed to somehow emerge stronger later on.

Did you all read the article?

Always a fair question, but I don't see how that applies to his point one way or the other. There's an ounce of meat AT BEST in this article.

I did. It was pretty superficial.

If academics were skilled at finance, they wouldn't choose to remain academics.

Money isn't everything.

It isn't, but I put very little weight behind academic pronouncements about financial markets. If they know what they are talking about, they would make money trading (even while remaining an academic) and have something to show for it.

https://www.endthefud.org

OP made it to the top:

https://99bitcoins.com/bitcoin-obituaries/

It seems to me like there is a twist in this article (actully very, very light on details) but it seems to say that it will fail not because the whole cryptocoin world will fail, but rather because "better" cryptocoins were created and specifically Bitcoin is "inferior" to some alternative ones.

Bitcoin is software. Software is unchanging and can never be upgraded.

Reply on news.ycombinator.com