A good friend of mine said 'asking your average finance guy about the merits of bitcoin, or any really blockchain tech, is like asking a formula 1 mechanic to do a physical inspection of an airplane, and trusting his opinion on whether it's safe to fly because they both go fast'
The difference of course being that the mechanic, in this case, is really confident of his/her off the cuff opinion.
And yet, the media is fascinated with asking non-domain experts about various qualifications of a plethora of blockchain networks.
And yet, the media is fascinated with asking non-domain experts about various qualifications of a plethora of blockchain networks.
This isn't to say said folks can't learn about it and make an informed opinion -- that would be great. That's the best outcome. But it seems a clear majority of these folks can't explain how or why bitcoin even works at even a basic level.
"I don't like the thing that has somehow survived 9 years of constant attack and defied all odds and is now has futures traded on the CME -- but I'm really interested in that vaporware that's totally unproven for reasons I can't articulate clearly."
It's amazing to behold.
It's amazing to behold.
"Let's bring in the fixed income guy to talk about corn futures -- or how about the personal financial advisor to opine about Brazilian equities"
We don't do this. Granted, it's getting better, but it's still bad.
We don't do this. Granted, it's getting better, but it's still bad.
At the end of the day it's just a shame to see because this line of thinking and endorsement of the same enables the real, actual scams/moneygrabs out there to happen.
They ironically help perpetuate the things they knock the space for.
They ironically help perpetuate the things they knock the space for.
