Ever since I got into this whole crypto thing, I've been seeing prophets of doom show up every single bull cycle to tell us how stupid we all are for believing in crypto. And guess what? They are here again, doing their thing. Singing their warnings and tired old debunked arguments against it.
I follow a few of the Doomsday prophets, and I think I do so not because I believe in their warnings, but more so because I find them entertaining.
Today however, I decided to engage with one, simply because I'm beginning to wonder when the song is going to change, or if they only know one dance move after all.
Here's the thing: If you don't believe crypto is here to stay, if you believe this whole thing is meant to blow up any minute now (as you've said for a decade now). Then you must have some sort of tool to make such assessment. I mean; It can't be gut feel, it can't be "muh feels says" because that would make you an idiot, not an expert.
With that in mind I asked Peter if there's something he would need to see to stop with his whole "OMG Bitcoin is such a scam!" choir once and for all. Let's face it, he's just copy pasting his "hot takes" every few years at this point, and it's beginning to be boring, even for those of us who like to laugh about it all.
I doubt he will answer me, but if he can't answer the question. If anyone who says crypto is the next dotcom, they have to be able to tell me what would make them change their mind.
In other words: If you can't tell me what would convince you that you are wrong, you've arrived at your conclusion without reasoning, and thus your opinion is as useless as towels marketed to fishes.
Bitcoin is sitting pretty above 105k as of me writing this. The recent announcement by Trump is probably the reason for the rally, and is also why Pete is freaking out at the moment. At any rate, you can't teach an old dog new tricks, they say. So maybe, I'm just asking for too much.
MenO
The only thing I have against crypto - all crypto - is that it is utterly dependent for having any value at all by being transmitted by the physical network owned by the investors in the legacy financial system. If Reticulum became wildly popular and BTC and Hive could be transacted in without any potential for the legacy financial network to just censor it and eliminate it's value because no one could transact with it anymore, then I'd withdraw my concerns.
I can't answer for anyone else.
Thanks!
I have to say that's a perfect critique and I think I agree with it too..
These ‘crypto is doomed’ folks been running the same tired playbook since flip phones were hot. Like, switch it up already—same song, no remix, and zero receipts.
one trick pony