Bitcoin terrifies me

3 points by pavlakoos 8 years ago | 11 comments

guywaffle 8 years ago |

... because you don’t understand it?

It’s common knowledge people fear what they don’t know.

pavlakoos 8 years ago | |

It is not just the fear caused by lack of understanding.

I'd rather say - by the overwhelming financial amount Bitcoin has generated. No folks in power like to be overtaken. Strange things might happen when they realize they are not the top dogs anymore.

guywaffle 8 years ago | | |

If you’re talking about the 1% they aren’t worried. The banks may have regulations, but most banks are owned by the Rothschild family. They can invest however they want since they are individuals.

iamthirsty 8 years ago |

There isn't much actually here, but an overblown fear of a bank run in favor of Bitcoin, which is amazingly unlikely.

pavlakoos 8 years ago | |

I wouldn't say it is unlikely. There already is a run for Bitcoin. Cold calculation makes people take their savings and go for BTC.

iamthirsty 8 years ago | | |

The banking industry is many many orders of magnitude more than Bitcoin. It's extremely unlikely.