> This in itself is a meme - "All criticism is ignorance!"
No, as I pointed out to the OP I was appreciative of his reasoned criticism because for years the top comments say things like, "Bitcoin is a ponzi; bitcoin is used only for illegal activity; Bitcoin failed." All wrong, and the only way I learned those were wrong was by understanding it and learning from smart people who are involved in the industry.
> The truth is that bitcoin is an instrument of speculation.
Public companies have no business speculating except for R&D. By claiming it is an "instrument of speculation" you are claiming they are not living up to their fiduciary duties? And what sort of speculation has gone on for 11 years?
> And Bitcoin is for settlement now is it?
Yep. That's where it is currently headed. Could change, never know (edit: what I mean here is Bitcoin devs/miners could change/adopt the software so it works more like a currency). Brian Chesky, CEO of AirBnB, insisted breakfast be served at all AirBnBs. He was wrong. Didn't matter. Some original Bitcoin adopters, particularly Hal Finney, noted early on that Bitcoin could end up being more of a store of value than currency. Even if buying a coffee with Bitcoin directly doesn't make sense, the spirit of the original paper in wake of the 2008 crisis is still alive and well.
There are serious, devastating critiques of Bitcoin. There are no serious rebuttals to those critiques, but plenty of people "involved in the industry" are making a lot of money from BTC, so it's no surprise they've convinced themselves it's fine. I guess they suckered you in too.
No, as I pointed out to the OP I was appreciative of his reasoned criticism because for years the top comments say things like, "Bitcoin is a ponzi; bitcoin is used only for illegal activity; Bitcoin failed." All wrong, and the only way I learned those were wrong was by understanding it and learning from smart people who are involved in the industry.
> The truth is that bitcoin is an instrument of speculation.
Public companies have no business speculating except for R&D. By claiming it is an "instrument of speculation" you are claiming they are not living up to their fiduciary duties? And what sort of speculation has gone on for 11 years?
> And Bitcoin is for settlement now is it?
Yep. That's where it is currently headed. Could change, never know (edit: what I mean here is Bitcoin devs/miners could change/adopt the software so it works more like a currency). Brian Chesky, CEO of AirBnB, insisted breakfast be served at all AirBnBs. He was wrong. Didn't matter. Some original Bitcoin adopters, particularly Hal Finney, noted early on that Bitcoin could end up being more of a store of value than currency. Even if buying a coffee with Bitcoin directly doesn't make sense, the spirit of the original paper in wake of the 2008 crisis is still alive and well.