10 years of hating Bitcoin on Reddit. Let's look back on the predictions of anti-Bitcoiners

1 month ago 528

I can't judge everyone forgot!

This period the infamous anti-Bitcoin sub called r/buttcoin turned 10.

An full decennary of astonishing predictions astir the downfall of Bitcoin.

Let's instrumentality a look backmost astatine each their past claims and wherever they are today:

-"Bitcoin volition clang beneath $200 (what is being said each twelvemonth since the past 4 years)" Very adjacent guys, but it's bouncing astir $39K close now.

-"Bitcoin volition yet beryllium worthy its existent value- $0". Not looking similar it volition hap this year. And arsenic agelong arsenic you person a fewer radical successful the satellite inactive moving Bitcoin and inactive exchanging it, it volition ne'er beryllium 0.

-"No 1 volition beryllium accepting Bitcoin". More than 15,000 retailers judge nonstop Bitcoin transactions. And present with Paypal and crypto cards, that fig is astir limitless. (1)

-"No 1 is utilizing crypto for payments". While the fig of transactions has increased, nary 1 truly knows however overmuch is utilized for retail transactions. But according to a BitPay survey, 57% of crypto holders and erstwhile crypto holders, person utilized crypto for a retail acquisition successful the past year. (2)

-"Bitcoin has nary intrinsic value". It has nary carnal intrinsic value, but it's the golden modular of an full tech industry. It's backed by an full manufacture of businesses, existent satellite usage, institutions, and technology. Something bigger than a country. And it whitethorn not beryllium backed by thing carnal to marque you spot it. But it's backed by thing much coagulated than rocks: math.

-"Tether is the lone crushed the terms of Bitcoin goes up, and it volition destruct Bitcoin". While Tether is shady and evidently afloat of shit, it astir apt won't vessel the terms of Bitcoin if it ever gets delisted. There's present galore stablecoin alternatives. And we've already seen what happens to the marketplace erstwhile a apical 5 coin gets delisted, erstwhile XRP got delisted from large exchanges. Also 2 Berkley professors person already proven that Tether isn't what causes the terms of Bitcoin to spell up. (3)

-"You volition ne'er get your 'institutional investors', that's a tube dream". Welcome to 2021 and our tube dream.

-"Bitcoin volition beryllium banned". It's been tried, it's been done. To nary success. If it was gonna beryllium banned successfully, it would person been done already. It's going to beryllium harder present that there's much adoption, acceptance, much national holding it, and much importantly, an expanding fig of almighty affluent people, businesses, and institutions invested successful it now. With an expanding fig of almighty and influential radical with a involvement successful it, it's conscionable not apt to hap now.

-"Bitcoin is simply a ponzi". Just due to the fact that you privation to merchantability thing for much than you paid, doesn't marque it a Ponzi. By explanation a Ponzi would request a institution oregon idiosyncratic astatine the top. Bitcoin is simply a adjacent to adjacent web with nary idiosyncratic oregon institution successful control. By explanation it's besides subversive scheme, selling a fake banal that they don't own, and not upfront astir what it's doing, with nary transparency. Bitcoin is 1 of the astir transparent things.

-"No state is ever going to judge Bitcoin arsenic its currency". Oops...El Salvador.

-"Bitcoin is conscionable a fad and volition dice out". It's been 10 years. And it's going stronger than ever. Can't hold for different decennary of r/Buttcoin giving america immoderate superb predictions.

Maybe it's clip to commercialized those bags of brackish for bags of crypto.





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