Quote from: Nescio on June 15, 2011, 11:15:41 AM

Quote from: dacoinminster on June 14, 2011, 06:56:27 PM

Quote from: Anonanon on June 14, 2011, 05:48:08 PM

Bitcoin on Freedomain Radio with Stefan Molyneux
http://www.youtube.com/watch?v=ygoqDBfjimM

This interview of Bruce Wagner is absolutely fantastic (warning: it is long).

It's also very one sided IMHO, I couldn't help thinking 'ponzi scheme!' while watching this. Bruce is almost exclusively focused on the (expected) appreciating value instead of utility and although Stefan mentions they're also going to talk about the downsides later on that never happens (don't you just hate when people state they'll come back to something later and they invariably don't?). Bruce also seems quite distracted in places, maybe he was watching the appreciation not happening?

We really need more balanced evangelism, the Bitcoin economy is helped a lot more by slowly and steadily growing with awareness of its weaknesses than by exponential hysteria causing a bubble that will wreck the whole thing when it comes crashing down.

Bruce Wagner is the Henry Blodget of Bitcoin:

Its a bubble, but its an unbreakable bubble, one that is just going to keep growing and growing and growing, he said. He had predicted Bitcoins would be going for $10 each by the end of May; the price hit $9.999 on June 1. He now says it will hit $100 by the end of the month and $10,000 within one year. That nutty-sounding forecasting recalls dot-com bubble boy analyst Henry Blodgets famous 1998 prediction that Amazons pre-split stock would double to $400, which happened less than a month later."
http://www.observer.com/2011/06/bit-omoney-whos-behind-the-bitcoin-bubble/

"It's not a bubble, and this time is different!" -That's what people always think.

Neyo

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