Quote from: error on July 15, 2011, 02:43:20 AM

Quote from: RandyFolds on July 15, 2011, 02:39:14 AM

Quote from: CurbsideProphet on July 15, 2011, 01:57:08 AM

Why is this topic so taboo that it can't be discussed even hypothetically? What I'm trying to say is if you believe in Bitcoin as a viable long-term P2P currency then you need to identify the inherent risks to its longevity. Shouldn't the fact that a very small portion of the overall community having the ability to bring BTC to its knees be at least something to discuss?

I don't understand why early-adopters need to be treated as gods and any sort of topic that comes up is automatically met with, "oh yeah just another guy trying to get rich off them." As if my ONE thread can somehow re-write history...

I am confused by everyone's assumption that the 'early adopters' took a risk...pennies worth of electricity is not a risk on generating thousands of worthless bitcoins is not a gamble. If anything, they gambled their brain power on something they saw as immensely useful. Those that propped up the system and invested in BTC for cash and began to offer goods and services for bitcoin are the ones bearing a risk...basically everyone that came in after the 'earliest adopters'.

The entrants into the current market are the ones bearing the greatest risk. Buying in at $14/per is a lot different than buying in for pennies...

Some guy spent 10,000 BTC on two pizzas. He (and his counterparty) took more of a risk than any of us.

and its not even about risk. Satoshi had a great idea that he released into the wild; early adopters saw the potential and jumped on it. they had a "vision".

i'm not an early adopter per se. i read about btc about a year and a half ago and it just didn't click at the time. only this year did i jump onboard and i don't begrudge early adopters at all b/c they were the ones who advanced the concept to its current point.