Post
Topic
Board Economics
Re: Billionaires hate Bitcoin.
by
Matthew N. Wright
on 28/03/2012, 19:51:38 UTC
Bitcoin is an inferior means of exchanging sums of capital, in its current form.  Nobody wealthy really cares about it.
Okay, I'll bite. Personal opinion + unverifiable claim. 2 for 2. Looking like a good blowhard comment so far.

Small transactions: cash is faster and 100% secure (money goes from person X to person Y and is verified by counting in 10 seconds or less, vs. bitcoin's 20 minute block confirmation wait).
Completely ignored Paypal's raging success that also requires a period of waiting and is even less secure. Fail.

Large transactions: bank transfers are much, MUCH safer (FDIC insurance at my free savings account covers up to $100,000, there's no 100% secure equivalent in the bitcoin world, and wallet security is a joke right now).
Anything is safer when it's guarded and backed by police, governments, armies, etc.

Price volatility: developed nation currency is 100 times more stable.
Bitcoin is not a currency. Also, Zimbabwe? Helloooo?

Usability: developed nation currency is 100,000 times more commonly accepted as monetary standard.
You must be new here. Almost as new as Bitcoin.

TL;DR.

I think you intended to have a point, but you surely missed it.