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The future of money is not Bitcoin

January 18th, 2015 | by BTC News
The future of money is not Bitcoin
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The future of money is not Bitcoin

The future of money is not Bitcoin.
Video Rating: 4 / 5

 

25 Comments

  1. avatar silverfish VT says:

    As entertaining as these videos are, the comment section is even better
    when the bitcoiners get riled up.

  2. avatar Jonny Blaze says:

    A new source of power… called gasoline has been produced by a Boston
    engineer. Instead of burning the fuel under a boiler, it is exploded inside
    the cylinder of an engine. The dangers are obvious. Stores of gasoline in
    the hands of people interested primarily in profit would constitute a fire
    and explosive hazard of the first rank. Horseless carriages propelled by
    gasoline might attain speeds of 14 or even 20 miles per hour. The menace to
    our people of vehicles of this type hurtling through our streets and along
    our roads and poisoning the atmosphere would call for prompt legislative
    action even if the military and economic implications were not so
    overwhelming… [T]he cost of producing [gasoline] is far beyond the
    financial capacity of private industry… In addition the development of
    this new power may displace the use of horses, which would wreck our
    agriculture. – U. S. Congressional Record, 1875.

    You are retarded dude – every “point” you attempted to make in this video
    was ridiculous and I don’t have the time to refute them. ALL new technology
    has its detractors, Bitcoin is no different. The best programmers in the
    world support Bitcoin, and you ain’t one of them. Ripple will replace
    SWIFT, meanwhile you can watch gold drop to $550.

    The horse is here to stay, but the automobile is only a novelty—a fad. –
    Advice from a president of the Michigan Savings Bank to Henry Ford’s lawyer
    Horace Rackham. Rackham ignored the advice and invested $5000 in Ford
    stock, selling it later for $12.5 million.

  3. avatar Dave Brack says:

    With Ethereum you will be able to buy crypto from anyone without risk of
    loss (no exchange necessary). Ethereum allows both buyer and seller to
    place the transaction in a virtual escrow. Ethereum verifies the funds from
    both parties before the transaction occurs. It will be released in
    February. It might become the “new internet of things” – Internet 3.0. IBM
    has a new product called “Adept” which is using the Ethereum platform.
    Rawdog I own mostly PM. But I believe my 1,000 dollar investment in Bitcoin
    2 years ago will be approaching 100,000 usd by summer as I have traded it
    successfully from one ALT coin to the next.

  4. avatar silverfish VT says:

    Look, its as simple as this. It became a tool for drug dealers, criminals,
    and tax avoiders. That alone meant that its existence wouldnt be tolerated.

  5. avatar Papa Smurf says:

    Thumb drives can die through electronic failures. Then what do you do?

  6. avatar perfectscotty says:

    Obsessing about money in General is a problem, money doesn’t really sustain
    you. Thanks for the video, I never got involved in bitcoin.

  7. avatar 9pt9 says:

    The longer cryptocurrencies exist the better thieves and hackers will get
    at stealing them. Nothing is safe in cyberspace.

  8. avatar Matthew Jilwan says:

    bitcoin is for libertarian idiots who think inflation is bad and don’t
    understand economics and politics

  9. avatar upgrader99 says:

    Bitcoin fanboys man… one of them actually called bitcoin a PROTOCOL. I
    just muted the thread. It was painful to realize people are that stupid
    while thinking they are smart. While bitcoin relies on protocols and
    methods to come into “existence” and to transfer them, a bitcoin is *not* a
    protocol.

  10. avatar freesk8 says:

    Don Harold bought some Bitcoin last night at around $184. I bought my
    first 5 Bitcoin today at around $209. It is about diversification. It is
    about buying something when it is low. I like the fact that it is
    non-governmental currency. I like the fact that FRN’s now have
    competition. I’ll take the risk.

  11. avatar Quang Le says:

    rawdog’s reason’s why bitcoin is retarded:
    1. there was a video 10 years ago about larpers saying lighting bolt
    lighting bolt lighting bolt
    2. he missed the boat on bitcoin and cant stop obsessing over how much
    money he would of made instead of his retarded investments and have
    resorted to gambling
    3. look down ull always be a slave

  12. avatar logans run says:

    Firstly remember bitcoin is still in its infancy so things are going to
    take time…also ponzi schemes don’t last eight years..and lastly I wonder
    if this guy could explain to me what smart contacts are…?..hmmm didn’t
    think so…i’ll go with my own opinion as I’ve spent three years learning
    about bitcoin…Bill gates,Richard Branson,geeks no what this means to the
    world.

  13. avatar rightsideofhistory says:

    Bitcoins are proprietary units of widgetry, that’s all. Like buying
    casino chips once you enter a casino. You knowingly give up your dollars
    to enter another alternate reality. You spend your “dollars” (now in the
    form of proprietary widgets – chips) inside the casino for goods and
    services. Except with bitcoins, people take the chips HOME and KEEP THEM,
    and SIT ON THEM. Problem is, those chips double or halve in value
    sporadically over time… and thus the rub. Thus the gamble. Thus the
    attraction.

    99% of people IN bitcoin are not interested *at all* about using them to
    buy goods and services. Zero interest in “freedom, leaving dollars behind,
    exiting the system”. The truth? They got in to convert their dollars into
    digital casino chips that move in value…and hope that value goes up.
    Period. They are *completely* concerned with how many DOLLARS they convert
    back out into… How ironic.

    So then what was the point of an alternative currency? It was supposed to
    be about freedom, no Fed, no ticking interest, no debt based paradigm…
    what happened to all that? If the Fed was the enemy, at 1-3% inflation
    per year “stealing your purchasing power”… then bitcoin must be an
    absolute shithole at a 75% “stealing your purchasing power” over the last
    year. More wealth stolen in one year than 30 years of the Fed !!

    It was never about freedom, non-usury, non-debt, non-Fed anything…. It
    was a magical ponzi set up for early adopters (and those being the creators
    too) using a standard home PC to mine several coins a day…. to later
    becoming millionaires in 1-2 years cashing out their near-FREE self-mined
    coins for $500-$1000 apiece !!! Leaving them with people holding the
    bag… with ACTUAL paper dollars spent to buy those digital 0’s and 1’s.

  14. avatar SGDeGalvez says:

    somebody tell me how a bitcoin is any better than a debit card?

  15. avatar Rex Argent says:

    Currency is a debt or promise to pay.
    Pay what? Time, labor, intellectual property?
    Yes.

    Gold, silver, oil, corn etc. Are the end result of time, labor,
    intellectual property. Therefore not promises but actual payment of debt.
    To own these requires no promise to pay. They represent time, labor,
    intellectual property payed for.

    That’s money. 

  16. avatar SalivateMetal says:

    Bitcoin, doomed to fail since it’s inception. I think once you see bitcoin
    fall, litecoin, fastcoin, etc will follow. On a totally related note. I can
    only see three minor spots on your face that you forgot to shave. But, I
    think I’m the only one that noticed.

  17. avatar mrquicky says:

    1:45 The US dollar is not retarded? It supports a criminal government that
    is committing world-wide atrocities in your name. Those atrocities aren’t
    going unnoticed. What replaces the dollar doesn’t have to be bitcoin, but
    there will be something. Whatever it is, it will have one positive
    property that bitcoin has. Anyone with access to the internet will be able
    to transact business securely. Bitcoin is slow and I don’t think they have
    any plan to change that. There are a ton of other cryptocurrencies out
    there though. Most of the negative aspects of bitcoin specifically have
    been resolved in other coins. Some coins don’t even use a blockchain.
    Whether you like bitcoin or not is irrelevant since these currencies do
    actually put purchasing power in the hands of the people. Power to the
    people.

  18. avatar Enuf Alrdy says:

    Bitcoin has fans, and they’re mostly fanatics. It’s the same with the
    hardcore Intel vs AMD crowd, Windows XP vs 7, Windows 7 vs 8.x, Ford vs
    Chevy, etc… If you don’t like what they like, or have what they have then
    you don’t know what your talking about!
    These people are mostly complete loons and have very little actual
    knowledge. Though they think they know everything and are experts! They
    also tend to be younger with not a lot of real world experience under their
    belt.

    This has been my experience from having worked in IT for close to 20 years.
    Others might have a different experience and that’s fine. Opinions are like
    assholes, everyone’s got one!

  19. avatar Stray Dog Crew says:

    Money is only valuable if we assign a value to it. WIth bitcoin, it
    involves computers… now lets look at the average America. Yep, bitcoin
    has no future. Not my opinion, I also used to work in tech support, I just
    know my customers. lol

  20. avatar Trevor Lentz says:

    LOlz at the comment of “armageddon if the USD crashes”. It’s actually
    impossible for a currency that has been given value only by the state
    decree to not drop to its intrinsic value of 0 (like the old saying goes,
    ain’t worth a continental). I’m not exactly a bitcoin fanatic, but the last
    half of the video is just cringe worthy. I agree that there are issues in
    making mainstream adoption possible with cryptocurrency in its current
    state. However, there are many brilliant minds throughout the globe who
    focus on the ease of use of crypto and that kind of innovation won’t just
    disappear. Even if bitcoin went bust there would be more learned from its
    failure that would help mold the next generation of coins. 

  21. avatar Everything Bitcoin says:

    Thank you for your opinions on Bitcoin, Rawdog. I obviously am not in
    agreement as to your line of thinking, but I do thank you for sharing your
    beliefs, however misguided I personally think they are. But dont you worry,
    I’m here to help you understand why the “Supertards”, such as myself,
    believe it is the future.

    If you choose to accept this tip, I hope it will help you to start learning
    more about Bitcoin. If you are curious to learn more, I have put together
    some helpful playlists on the subject in my channel. I am sure they can
    help shed some light on why the people who have done the research realize
    it is such an amazing discovery. $10 +ChangeTip 

  22. avatar ReallyNow? says:

    People that failed at bitcoin bought and held forever. It has it’s place as
    a payment system with low fees internationally, but not really a fiat
    replacement. I saw about 5000% gains trading between crypto currencies in
    the last year. It is like the Las Vegas of trading due to the crazy
    volatility.

  23. avatar Teddy Long says:

    You’re spot on about bitcoin. It put me and many of the boys in the
    shelter. Lost just about everything. Me and the boys are betting the “new
    great money” will be ..aluminum cans. Where else can you make money for
    …nothing but walking around. At least we can feel “aluminum cans”..can’t
    do that with bitcoin.

  24. avatar SuperJoeitall says:

    I was amazed that when I recently booked a room at Harrah’s one of the
    payment options was Bitcoin!! Why would big companies like that accept
    Bitcoin? I don’t get it. 

  25. avatar iamgogi says:

    Awesome Rawdog…Lightning bolt…lightning bolt…magic
    gathering…LOL…funniest bitcoin nerd goof analysis I have ever heard.
    LOL. Upchucked my coffee all over my spreadsheets at work.

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