An over-reaction, I think

in #cryptocurrency7 months ago




Sometimes I just don't get people.

In response to my latest newspaper column, a reader wrote to call crypto "a disaster" and claimed it will cause people to lose all their money. He declares that "Bitcoin is not money it is a scam"; and goes on to say "it is not financial freedom". He says he would advise people to "stay away from it if you have any common sense".  Then he proclaims it's from China. 

That's a lot of information.

Where did he get his information? He must be an insider to be certain of all this. Maybe Illuminati. Otherwise, who gave him his opinion?

Anyway, I'm open to hearing other opinions and the reasons behind them. But I also think that when those opinions seem off-base, people might be happy to hear the other side. I'm usually wrong about that.

I responded to him, and if you'll notice I didn't say he was wrong about anything he claimed, I just put my own perspective on it: 

"I've used it to buy 2 guns, silver, and gold. Even if the price went to zero today, I've gained. And if it did get that low, I would buy more. It's more legitimate than US dollars because no matter who invented it, no one controls it-- that's the benefit of the blockchain. And others who don't like it claim the CIA invented it. At least no one (other than El Salvadorans) is forced to accept it.
What is money?
 http://blog.kentforliberty.com/2009/11/requires-no-government.html"

He sent a terse reply. His final word? "Keep it out of the US"

Why? Just because he's scared of it because he doesn't have even a rudimentary understanding of it? Sounds more like a witch panic to me.

I don't get the hostility. I like Bitcoin; more so with the passage of time. I wish the price would only go up, but that's not how things work. As it is, I'm satisfied with how it works for me.

If YOU don't like it and don't trust it, don't use it. But how are you going to keep it out of the US? It's already here. Are you going to steal it from me and send it to someone in another country? Do you support using government violence to that end? (That approach is doomed to fail.)

I don't like or trust the Covid vaccines enough to put them in my own body, but I don't say to "keep them out" of America. You do what you want. If I die because I didn't get the vaccine, that's my fault. If you die from a reaction to the vaccine (or from the virus) I'll feel bad for your family, but I don't imagine I have any right to order you around* for what I imagine is your own good. Nor to use the violence of government to force you to do as I believe you should, even if I have a firm opinion of what I think you should do. 

Statists believe differently. That's a problem.

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*Not allowing you to order me around isn't the same as me ordering you around-- I've seen this mistake several times over the years. "If you don't do what I tell you to do, you are controlling me!" No, I'm not. I'm simply not allowing you to control me. There's a difference.

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Doomsdayers of crypto don't understand crypto. Crypto is not really that much different than fiat currencies and even metal-backed currencies. The obvious difference is crypto is digital and fiat currencies are mixed between digital and physical, although many cryptocurrencies do allow for paper wallets which blurs the lines of the difference even more. The main difference is that the limits to the currency is hard-coded and if you were to change the overall supply you would have to get the acceptance from the general community instead of some centralized bureaucracy administered or overseen by a government.

Crypto is just a medium of exchange like dollars or bat guano. lol Crypto should be used to obtain property and depending on the crypto it can be used as a viable currency.

It is interesting that statists really believe in the govern-cement protecting them by banning something that hurts no one.

I tried promoting a bitcoin faucet to a group (free bitcoin) and was told that bitcoin was only used by drug sellers and that i had drunken the koolaid, when i started bringing up facts about bitcoin.

It is really interesting that people that play the lottery think that bitcoin is a scam.

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