undefined | Better HN

0 pointsbrndnmtthws8y ago0 comments

By that logic, you can say the same thing about pretty much every single silicon valley startup.

0 comments

Yes, skepticism is healthy

Some startups will grow very large and become very valuable and will stay around for a long time.

No cryptocoins will be around for a long time. They are all going to crash to near worthlessness, including Bitcoin and Ethereum.

Also the idea of Webvan was not a bad one, they were just too early. People put too much money in too early to a good idea.

Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing. Just like quack medicine was worthless a century ago and is worthless now.

aqsheehy8y ago

Bitcoin has value, you need it to buy drugs online.

6nf8y ago

> They are all going to crash to near worthlessness, including Bitcoin

Why?

> Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing

That's not true. Coins do things you can't do otherwise. Instant peer to peer value transfer over the internet for example.

Ologn8y ago

> Instant peer to peer value transfer over the internet for example.

You can't do a value transfer when there is no value.

1 more reply

hndamien8y ago

It is a bank, so I will keep buying.

mrep8y ago

Are you suggesting cryptocurrencies are banks? Please explain that logic. I also suggest you read up on the tulip mania [1].

Note: I do think bitcoin has value for illegal transactions but that's the only place I see cryptocurrencies solving a problem more efficiently than current solutions.

[1]: https://en.wikipedia.org/wiki/Tulip_mania

j / k navigate · click thread line to collapse

0 comments

aqsheehy8y ago

Yes, skepticism is healthy

Ologn8y ago

Some startups will grow very large and become very valuable and will stay around for a long time.

No cryptocoins will be around for a long time. They are all going to crash to near worthlessness, including Bitcoin and Ethereum.

Also the idea of Webvan was not a bad one, they were just too early. People put too much money in too early to a good idea.

Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing. Just like quack medicine was worthless a century ago and is worthless now.

aqsheehy8y ago

Bitcoin has value, you need it to buy drugs online.

6nf8y ago

> They are all going to crash to near worthlessness, including Bitcoin

Why?

> Cryptocoins are not an idea before its time or of its time. It is inherently a worthless thing

That's not true. Coins do things you can't do otherwise. Instant peer to peer value transfer over the internet for example.

Ologn8y ago

> Instant peer to peer value transfer over the internet for example.

You can't do a value transfer when there is no value.

1 more reply

hndamien8y ago

It is a bank, so I will keep buying.

mrep8y ago

Are you suggesting cryptocurrencies are banks? Please explain that logic. I also suggest you read up on the tulip mania [1].

Note: I do think bitcoin has value for illegal transactions but that's the only place I see cryptocurrencies solving a problem more efficiently than current solutions.

[1]: https://en.wikipedia.org/wiki/Tulip_mania

j / k navigate · click thread line to collapse