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Bitcoin is now a threat to us allwww.spectator.co.uk/article/bitcoin-is-now-a-threat-to-us-all/
2215 sats \ 40 comments \ @siggy47 24 May bitcoin freebie
This may be the most alarmist piece of fud I've seen in years. The author starts off by saying that the FTX scandal proves that bitcoin is a scam.
I noticed that the US edition of The Spectator doesn't seem to have this article.
Gambling on Bitcoin has, in effect, just gone mainstream. It is as if a bookmakers has just been allowed to set up shop in every living room in the country.
This is priceless:
Bitcoin is a classic zero-sum game. Large numbers of people can make vast paper fortunes by bidding up the price, but they cannot all realise those fortunes, because if everyone sells out the price collapses to zero.
Here's another oldie but goodie:
Bitcoin earns no income and has no intrinsic value – it is, for all its cleverness, really nothing more sophisticated than a tech reinvention of the Ponzi scheme.
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75 sats \ 0 replies \ @Coinsreporter 24 May
The easier it becomes to buy Bitcoin, the greater potential for financial disaster
What a subheading! Can't read it further. This is just another bullshit crap of all craps. If the bookmakers have entered in every room in the country, who is to blame? The state or the agencies or common innocent people! I wonder he wants to prove the people wrong.
Anyways, I can't tolerate this sitting on the sidelines and just want to make it clear that for everything that has been or will be wrong with us, it's the state or its corrupt politics has to be blamed and not all of us. These kind of misinformed journalists are and will always be found and we just need to avoid them and keep stacking as always.
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64 sats \ 0 replies \ @IamSINGLE 25 May
Bitcoin is far above all of these people. They even can't understand the B of Bitcoin.
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64 sats \ 2 replies \ @TomK 24 May
If you read this kind of crap, can you now understand why I wanted to get out of this sector?
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31 sats \ 1 reply \ @siggy47 OP 24 May
Definitely. Better to have a few drinks and stare at the Rock Of Gibraltar
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54 sats \ 0 replies \ @TomK 24 May
Some good books, too and I am happy
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118 sats \ 2 replies \ @grayruby 24 May
The end is nigh.
Garbage like this used to have an impact on public perception of Bitcoin but now I actually think it is a net positive. It is so ridiculous and alarmist that only the true bitcoin haters are going to take it seriously and for everyone else it is just free marketing for Bitcoin.
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50 sats \ 0 replies \ @Sirkay 25 May
You said it well, nice take on that.
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50 sats \ 0 replies \ @siggy47 OP 24 May
Exactly! It feels like a good thing. It's like reading a Monty Python skit.
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75 sats \ 0 replies \ @0xbitcoiner 24 May
https://imgprxy.stacker.news/pouH8swThoQ-ms7Qv12IiJYivaOyhlD9-4JIfAIKgDY/rs:fit:960:540/aHR0cHM6Ly9tLnN0YWNrZXIubmV3cy82MzMy
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96 sats \ 3 replies \ @398ja 24 May
I thought we had all collectively already passed that stage of nonsensical uninformed hit pieces. 😣
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21 sats \ 1 reply \ @kepford 25 May
We have a long way to go. It will take years for many to have their eyes opened. Don't forget, even after covid many still trust authorities.
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10 sats \ 0 replies \ @398ja 25 May
Unfortunately, you're correct. Still too many look and refuse to see. Sadly.
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21 sats \ 0 replies \ @siggy47 OP 24 May
That's why it was so surprising. It almost reads like satire.
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65 sats \ 3 replies \ @BitcoinAbhi 24 May
This looks like a joke.
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10 sats \ 1 reply \ @itsrealfake2 24 May
this is the same guy:
spectator, may 9 2022
https://m.stacker.news/32406
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0 sats \ 0 replies \ @MarsIronPI 25 May
Currency should be boring. It should stay in the background and just hold value.
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0 sats \ 0 replies \ @siggy47 OP 24 May
It is funny.
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55 sats \ 0 replies \ @cryotosensei 24 May
Infuriating that such ignorance can pass off as journalism
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54 sats \ 0 replies \ @MarsIronPI 25 May
Bitcoin earns no income and has no intrinsic value – it is, for all its cleverness, really nothing more sophisticated than a tech reinvention of the Ponzi scheme.
You know what's worse? The US dollar. Not only does it not have intrinsic value (it used to, though), its issuer can practically create more value (temporarily) by printing more. It's stupid.
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54 sats \ 0 replies \ @Sirkay 25 May
We are in the community of freedom of expression. Issues like this only help the btc to gain more popularity and momentum.
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54 sats \ 0 replies \ @Athena 25 May
It is so ridiculous!
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54 sats \ 0 replies \ @Satosora 25 May
This is such an old way of thinking.
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54 sats \ 1 reply \ @jgbtc 24 May
Old people eat this shit up.
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55 sats \ 0 replies \ @siggy47 OP 24 May
Not this geezer
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54 sats \ 1 reply \ @OT 24 May
At least he’s bullish
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0 sats \ 0 replies \ @siggy47 OP 24 May
True
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54 sats \ 0 replies \ @itsrealfake2 24 May
This article is borderline evil, and definitely a sin.
My eyes melted:
The answer, it seems, is something called the Grayscale Bitcoin Trust
How exactly does one "download a bitcoin wallet"? I guess he's talking about wallet software but that's obviously the least sophisticated part of ... opening a bank account in cyberspace.
their more sophisticated brethren who know how to do things that would never occur to the more conservative of us: such as downloading a ‘bitcoin wallet’.
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54 sats \ 0 replies \ @Bell_curve 24 May
Stupid spectator
More stupidity from conservative inc
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54 sats \ 0 replies \ @BlokchainB 24 May
Ahh yes the current fiat system run of the mill talking points. Yawn 🥱
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54 sats \ 0 replies \ @Zenul_Abidin 24 May
Bitcoin is a classic zero-sum game. Large numbers of people can make vast paper fortunes by bidding up the price, but they cannot all realize those fortunes, because if everyone sells out the price collapses to zero.
This is false because when you sell the coins, someone else is receiving them. If everyone "sells" their coins then the exchanges will receive them who are for all intents and purposes just users.
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54 sats \ 0 replies \ @Rsync25 24 May
LMAO
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54 sats \ 0 replies \ @rizzling 24 May
pure comedy :D
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54 sats \ 0 replies \ @hasherstacker 24 May
I see a blind trying to lead a blind. How can Shitcoiners tell anything good about freedom and sovereignty?
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54 sats \ 4 replies \ @cristaiji 24 May
Wow....does Ross Clark believe this or is he doing propaganda? It reads more like propaganda.
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31 sats \ 3 replies \ @siggy47 OP 24 May
I don't know much about him, beyond that he is often described as a libertarian and free market guy. Have you read much of his other stuff?
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54 sats \ 2 replies \ @cristaiji 24 May
No but i'll have a look at some of his other pieces.
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75 sats \ 0 replies \ @rizzling 24 May
My advice: do not read something he has writen....never again xD
It's a. A waste of time b. Very sad to know that such idiots exist^^
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0 sats \ 0 replies \ @itsrealfake2 24 May
same guy
maybe its agitprop for greyscale?
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10 sats \ 0 replies \ @Arceris 24 May
FFS. The old "intrinsic value" bit. There is literally no such thing as intrinsic value (except for sentient beings).
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75 sats \ 0 replies \ @orthwyrm 24 May
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