Re: Is Bitcoin a scam: The long debated argument discussion by Bloomberg - Quicktake
I mean, he even gets Satoshi's name wrong at the 1 minute mark, so that should give you a good indication of just how much thought and research went in to producing this awful video.
At 2 minutes they say that the Whitepaper states there would be a cap on supply. This is completely false. The Whitepaper does no such thing.
To state bitcoin has "failed in its goal of displacing the dollar" is also wrong, for two reasons. First of all, that was never a stated goal of bitcoin. Secondly, fiat money has been around for over a thousand years. Bitcoin has been around for 12. The collapse of fiat isn't going to happen overnight.
The electricity impact I have spoken about extensively on this forum, and is a terrible argument.
He ends by saying that we all might as well just stick to centralized payment processors.
He has completely failed to understand what bitcoin is trying to achieve, and appears to have taken all his arguments from a cursory 10 minute Google search without doing any research whatsoever in to why they are all wrong.
At 2 minutes they say that the Whitepaper states there would be a cap on supply. This is completely false. The Whitepaper does no such thing.
To state bitcoin has "failed in its goal of displacing the dollar" is also wrong, for two reasons. First of all, that was never a stated goal of bitcoin. Secondly, fiat money has been around for over a thousand years. Bitcoin has been around for 12. The collapse of fiat isn't going to happen overnight.
The electricity impact I have spoken about extensively on this forum, and is a terrible argument.
He ends by saying that we all might as well just stick to centralized payment processors.
He has completely failed to understand what bitcoin is trying to achieve, and appears to have taken all his arguments from a cursory 10 minute Google search without doing any research whatsoever in to why they are all wrong.