While the vast majority of people understand that it's a total joke, very few people really get how it works, so most people get the impression that it is a hilariously terrible implementation of some decent ideas.
Anyone's effort to rehabilitate any of the core concepts behind Bitcoin and put them to use elsewhere is at best doomed to failure, and at worst setting up future catastrophy
Think of Bitcoin like if Amway sold limited edition beanie babies.
We all remember both of those, right? Amway is the big famous pyramid scheme company where a company has a lot of
AND ultimately, it's all garbage nobody actually wants, which is WHY this system of selling it through a network of housewives buying it to flip it
Meanwhile, Beanie Babies were (are?) a thing that really hit a boom when eBay was starting to get popular- A company makes a new design for a teddy bear... not even really a fancy designer one or anything, just a cheap little bear-shaped beanbag I
Most people buying the things though aren't buying them because they actually want them. I mean, they're cheap garbage. I haven't sewn anything
The idea though is that since so few were ever made, no more ever will, and plenty are probably going to be destroyed over the years, hoarding as
AND scrolling down to "similar offers" I'm seeing literally the same exact one put up for just under $10 (or best offer) and basically any price in between those extremes. Because, again, there is no real market value
So this is the basic goal state Bitcoin enthusiasts are seeking. They want something that can be acquired cheaply and sold at a profit, by virtue of becoming harder to acquire over time. Nobody wants any actual PRODUCT with any sort of value, just some sort
Bitcoin is something that was specifically created to serve this purpose. It has no real value beyond the ability to trade it away. Fixed supply with
Now, the real issue is, some nerd really overthought the best way to accomplish all that, and came up with this whole "blockchain" concept to kill two or three
The basic idea behind blockchains is that you never have a situation where I hand you a dollar and you have me a sandwich. I instead pull out this great big ridiculous stapled together bundle of pages, comprising the entire history of a particular
Of course, if I just did THAT, it'd be
This is, of course, absurd and ridiculous. Especially if you have any conception of just how often a given dollar changes hands. We end up with this absolutely stupidly
This makes the process of actually managing the exchange an absurdly complex process that gets
Now at this point, you might be thinking I'm making up
But again, see, we aren't actually here to serve a practical purpose. We're here
Now then. This whole mess is an obvious nightmare, and it's a bit like watching a
And then we also have all these people who have made their bank processing bitcoin transactions and have a WHOLE lot invested in huge
So uh... let me just browse a few search results here for "powered by blockchain," shall I?
Mmm, yes! Even better! The problem with Twitter is that every time you make a post you're just throwing that post along not an encrypted log
OK this one might actually get the prize for the evening. I can't even tell what, if anything, it is they're trying to pitch here, but it basically comes across like someone who just had the brilliant idea to completely eliminate his electric bills by
I could keep going, but you get the idea.
If you see "crypto" and it isn't followed by "zoology" or a misspelling of Superman's dog, that almost certainly is too.
A whole lot of people say they invest in bitcoin because if you do digital transactions with real money, there's a paper trail.
This is hilarious, as
I mean, if any legal scholars are following me, I'm sure this is going to lead to some real nerdy side track