The Rise of Whatever

Cool post, but:

> And the only real hope I have here is that someday, maybe, Bitcoin will be a currency, and circulating money around won’t be the exclusive purview of Froot Loops. Christ

PLEASE NO. The only thing this will lead to is people who didn't get rich with this scheme funding the returns of people who bought in early.

Whatever BTC becomes, everyone who advocates for funneling public money of people who actually work for their salary into Bitcoin is a fraud.

I don't think the blog author actually wants this, but vaguely calling for Bitcoin to become "real money" indirectly will contribute to this bailout.

And yes, I'm well aware that funneling pension funds money etc into this pyramid scheme is already underway. Any politician or bank who supports this should be sued if you ask me.

Yeah, I think for crypto to actually turn into something net-positive, Bitcoin needs to lose a lot of value. It would almost certainly be some other network that would actually solve this problem, given Bitcoin's essentially frozen in a half-completed state now (Ethereum still seems to be trying to make something that scales to a point that would be usable, but it is also the nexus of a lot of the scams for the same reason)

> Bitcoin needs to lose a lot of value

Why is that? You can just buy 0.00000001 BTC.