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Ray Dalio bashes bitcoin. It's not a medium of exchange and not a store of value, he says.
I wonder what Dalio thought of email in 1996 when it had 25 million users. You could only reach a fraction of the population with it (0.4%). Clearly, it wasn't a medium of communication.
I wonder what Dalio thought of email in 1996 when it had 25 million users. You could only reach a fraction of the population with it (0.4%). Clearly, it wasn't a medium of communication.
Is bitcoin not digital gold until it trades like gold? Are emails not digital letters until most people have an address?
What's so difficult to understand? We're saying we've been able to recreate the fundamental properties of something, but in a digital format.
What's so difficult to understand? We're saying we've been able to recreate the fundamental properties of something, but in a digital format.
Just because you have recreated something in a digital form, it doesn't mean that what you've created is going to act like the thing it is competing with from day 1. What it means is that it has a technological advantage, so that *if* it was widely used, it'd be >10x better.
bUt iT iS nOt A gOod meDiuM of ExcHaNgE
Yes. And a car is not a good medium of transportation until you have roads. The combustion engine was thus clearly a waste of everyone's time.
Yes. And a car is not a good medium of transportation until you have roads. The combustion engine was thus clearly a waste of everyone's time.
If you get asked what you think about something which demonstrates pretty staggering potential compared to incumbent mediums, you don't say "but I can't reach more than 0.4% of the population with it RIGHT NOW gahhh it sucks". Who, with a brain, expresses themselves like this?
