Refutation of “The OG Bitcoin business model works fine”

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Avatar for TobiasRuck
3 years ago

This is a refutation of this article: https://read.cash/@noise/the-og-bitcoin-business-model-works-fine-ec62a251

Noise makes two contradictory arguments:

  1. > The OG Bitcoin business model works fine

  2. > Adoption has been set back by attacks

He makes no attempt at resolving this contradiction, hence the article is moot.

He does argue irrelevant points though, red herrings one might argue:

  • Bitcoin is actually better than the USD

  • He believes 11 years is not long

  • The projects I listed that took over actually also have bad business models

  • In order to enforce Ostrom’s 8 principles, we need a central party. (Besides being irrelevant, I fail to see why this is true)

Therefore, I come to my final conclusion:

Username checks out.

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Comments

Sir i like your article. actually it's very useful article for us.thanks for share.lot of respect.

$ 0.00
3 years ago

I like the way you explained your ideas...!! Subs done

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3 years ago

Great work cutting through the Noise.

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3 years ago

I don't think these two statements are necessary contradictory. Yes, it is possible to slow down and temporarily hold back something which is unstoppable. But eventually it will win over the world. Because the adoption model works.

$ 0.11
3 years ago

If the OG bitcoin model "works" then attacks would not be holding it back. If your business model dies or pauses with easy attacks done by others then your business model has flaws.

Its like building a car without a frame. You can argue up and down its a good car, but you cant just blame the rain when it shorts your fuses.

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3 years ago

Assertion

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3 years ago

looking forward to the refutation of the refutation @noise.

$ 0.00
3 years ago