Bitcoin is old technology, it’s going to be replaced by something better

What the FUD is this?

The idea that bitcoin’s blockchain technology was the first of its type and is now too “old” or “out of date” because it is lacking in features found in later developments. The idea that because there’s something newer, the older must be discarded and that even if it ain’t broke, we should fix it anyway.

Squashing this FUD
Experts reply…
  • Dan Held
    • Silicon valley culture – what they fail to understand is that with money, and the financial layer to the economy having something semi-static or very rigid and unchanging is great, because then we can build on top of that foundation, kind of like how you want to build a skyscraper, the skyscraper would be the economy on top of a concrete foundation versus a foundation that is being built while the skyscraper is being built.
    • Network effect – what bitcoin really represents is digital scarcity, once you invent that once you don’t really need to reinvent digital scarcity over and over again, there’s a network effect, there’s a shelling point around bitcoin’s ledger where we’ve all decided to store our value there and there’s not a reason why we need to go store our value in every new ledger that’s created, because you’re just creating less scarcity and less of a network effect.
    Source: www.coindesk.com/podcasts/the-breakdown-with-nlw/breakdown-bitcoin-fud-dan-held

Have another better source? Please help us squash the FUD by submitting it.

Squash this FUD

Start an argument