
Who Killed Bitcoin - vasilipupkin
https://medium.com/@mkogan4/who-killed-bitcoin-d121aadee28c
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hyper_reality
> Empirically, value of bitcoin relative to other cryptocurrencies appears
> unconnected or only weakly connected to the properties that we think give it
> value in the first place.

This is an important point that anybody who has been into cryptocurrency for a
while can attest to. We have watched the Bitcoin network exploding in price
while meanwhile becoming worse and worse at what it is supposed to do.

Enthusiasts have changed the goalposts, claiming that Bitcoin instead is like
digital gold, an idea which Satoshi himself convincingly argued for:
[http://satoshi.nakamotoinstitute.org/posts/bitcointalk/428/](http://satoshi.nakamotoinstitute.org/posts/bitcointalk/428/)
However, since there are now so many competing products to Bitcoin, equally as
scarce but with many better features, I'm not sure peoples' faith in its long-
term value can hold forever.

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vasilipupkin
Agreed, but I was trying to show some evidence for this, specifically by
looking at ytd appreciation of various crypto relative to bitcoin.

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martin_andrino
Poor clickbait. First few words from the post are as follows: "Well, nobody,
yet. And, perhaps, nobody ever will.".

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vasilipupkin
clearly, nobody has yet killed it because it's still alive. Do you have any
substantive comments, though, on the content?

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nerdponx
There is no content.

From the intro, I was expecting some kind of analysis of the most promising
"next-gen" crypto currencies, and how they are better or not better than
Bitcoin. When I got to the end I thought for sure there was more to go and
maybe the page hadn't loaded fully.

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vasilipupkin
well, I guess we have to agree to disagree. It's a short note making a simple
point, but I strongly disagree that there is no content. In fact, it sounds
like you enjoyed the content so much, you were hoping for more :)

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figurehe4d
Doesn't change the 'note' clickbaity nature, OP.

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vasilipupkin
Look, the title was clickbait. it worked, cause lots of people clicked on it.
the content, in my opinion, wasn't.

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sputknick
I think the next global recession will kill Bitcoin. It's supposed to be
a"store of value", but as soon as stuff hits the fan, people are going to flee
to safety and convert their Bitcoin to usd, cny, eur, and krw and Bitcoin will
tank as a result. The crypto currencies with more purposes will take a hit,
but come back stronger.

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vasilipupkin
Perhaps, but a global recession of a large magnitude may not happen for many
years.

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Udik
I was expecting some extensive discussion about how bitcoin might die- for
example, through extensive monitoring of transactions, state regulations, 50%+
attacks from state actors, spikes in electricity cost. More interesting than
"well maybe a better cryptocurrency might take over".

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vasilipupkin
yeah, but I don't think it's going to die from any of those things you
mentioned. it's too robust. that's why those things are not in the note.

