>If it was a short-term bet, your criticism is valid. But this is a long-term bet
How can you even claim to know what sort of bet it is? I don't believe Mr. Andreesen is nefarious, but I fully expect him to talk his book. It would be foolish otherwise.
As far as his Op-Ed, I find this interesting:
"Target is happy because it has the money in the form of Bitcoin, which it can immediately turn into dollars if it wants, and it paid no or very low payment processing fees; you are happy because there is no way for hackers to steal any of your personal information"
Let's put aside the fact that people having their accounts hacked and Bitcoins stolen, amounting to hundreds of millions(?) of dollars is all over the news. We can also put aside the fact that "immediately turn into dollars" requires a fee, somewhere. How do I get a refund if need be? Target needs to record that information regarding my purchase, then we're back at square one: my information on the system of some retail operation, waiting to be stolen.
>Feel free to start there if you want.
Start where? Bitcoin proponents are going to have to do a better job selling the technology than "Go research it". I Google it and end up in /r/Bitcoin, which is a hell-hole. If understanding the importance and use of a technology involves independent research and attending conferences, no one will bother. The Bitcoin advocates need the public to understand the tech if they want it to go mainstream; Mr. Andreesen gets this, that's why he's writing Op-Eds in the NYT.
I find the technology fascinating, really. Especially with regards to the idea of information and contracts being passed through the blockchain. Yet every sales-pitch is about Bitcoin as currency, and I haven't seen very many compelling use-cases there yet.
How can you even claim to know what sort of bet it is? I don't believe Mr. Andreesen is nefarious, but I fully expect him to talk his book. It would be foolish otherwise.
As far as his Op-Ed, I find this interesting:
"Target is happy because it has the money in the form of Bitcoin, which it can immediately turn into dollars if it wants, and it paid no or very low payment processing fees; you are happy because there is no way for hackers to steal any of your personal information"
Let's put aside the fact that people having their accounts hacked and Bitcoins stolen, amounting to hundreds of millions(?) of dollars is all over the news. We can also put aside the fact that "immediately turn into dollars" requires a fee, somewhere. How do I get a refund if need be? Target needs to record that information regarding my purchase, then we're back at square one: my information on the system of some retail operation, waiting to be stolen.
>Feel free to start there if you want.
Start where? Bitcoin proponents are going to have to do a better job selling the technology than "Go research it". I Google it and end up in /r/Bitcoin, which is a hell-hole. If understanding the importance and use of a technology involves independent research and attending conferences, no one will bother. The Bitcoin advocates need the public to understand the tech if they want it to go mainstream; Mr. Andreesen gets this, that's why he's writing Op-Eds in the NYT.
I find the technology fascinating, really. Especially with regards to the idea of information and contracts being passed through the blockchain. Yet every sales-pitch is about Bitcoin as currency, and I haven't seen very many compelling use-cases there yet.