
Bitcoin is my potential pension: What’s driving Kentuckians to join the craze - willbw
https://www.washingtonpost.com/business/economy/bitcoin-is-my-potential-pension-what-is-driving-people-in-kentucky-to-join-the-craze/2018/02/03/aaaea3be-05dc-11e8-b48c-b07fea957bd5_story.html?utm_term=.2654c1e71bd6
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SQL2219
These folks need to fully understand the amount of luck and timing they need
to benefit from this. Early adopters easily cashed-in, but will be much harder
going forward. Everyone is a genius when it's going up, not so much on the way
down.

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jetti
I think the success of early adopters from bitcoin is driving many to some of
the altcoins. For example, ADA is sitting around 40 cents right now. With the
$1500 that was invested by Knight from the article that could've been shifted
to get around 3750 ADA coins. Think of all the profits to be made if it just
goes up to $1/coin! The problem is many people don't necessarily understand
the risks of investing in altcoins and just see it as a way to be another
early adopter.

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mrguyorama
What you are describing is basically how pump-and-dump of penny stocks works.

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tCfD
I suspect that much if not all of blockchain consulting (including bitcoin)
will be regarded as opportunistic charlatanry by future historians.
Blockchainism is the alchemy of the internet age: a long, costly and (in the
short term) counterproductive dead end quest to reify, through successive
rounds of epicyclic tweaking, a fundamentally flawed system of philosophical
premises that its most vocal and ideologically inclined proponents have
mistaken for conclusions.

Yet just as alchemy inadvertantly fostered the development of the scientific
method and attendant apparatus for quantification of natural phenomena,
blockchainism may yield insights and instrumentation with similar impact
potential, this time pertaining to the phenomena of human nature through
quantification of social interaction and value formation process.

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theamk
Previous post with slightly more discussion:
[https://news.ycombinator.com/item?id=16305197](https://news.ycombinator.com/item?id=16305197)

