KING OF FUD! DISCLAIMER: I own .05 bitcoins.


  1. hxiong
    May 11, 2013 @ 6:13 am

    I’ve been reading your site and none of these criticisms sound substantial.

    Bitcoin is unstable, unregulated, unreliable, not backed by anything…. so what? That doesn’t make it illegitmate. As long as there exists a venue to convert bitcoin into goods or real cash, it has value. My relatives in China tell me most people see it as a casino to play at, and perhaps that is the future of digital currencies.

    Is it meant to replace or emulate fiat currency? Not really.

    People do dumb things for bitcoins, sure. But then again the same can be said of real money.

    As for illegal uses or not being able to live on bitcoin, well it’s still a relatively new thing. Now that the idea of digital currency is out in the open, there will undoubtedly be more attempts, more competition, more failures etc. But the concept itself will only grow, mushrooming all over like internet piracy. Should there ever emerge a dominant currency or one approved by any government, it will be useful for more legitimate purchases. In a few decades digital currency will likely be a part of regular life, as it’s unlikely every government would/want to keep it under wraps.

    So I’m not sure what the aversion here is. I read your about page but didn’t quite fully understand. Is there an American political narrative behind all this?


    • Joe Hill
      June 3, 2014 @ 2:19 am

      Yes of course, it must be an American government conspiracy behind this. Only the American government has a problem with bitcoin.

      The problem is that buttcoin supporters claim that it IS currency(it’s not) and that it will replace fiat currency, which they consider worthless despite the fact that you can obviously buy virtually anything with it.


  2. Ivan Sorensen
    June 21, 2014 @ 11:55 am

    Bitcoin is totally a legit currency except when people point out it isn’t. Then it was never intended to.


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