Sunday, January 11, 2015

Major Bitcoin Scientist Sounds Nervous About Bitcoin

Gavin Andresen, chief scientist at the Bitcoin Foundation, tells FT:

It actually is dangerous and people should be aware it’s like the early internet. If you lived through time, you remember lots of press articles came out saying don’t give internet companies your credit card details. But the internet grew past that. Bitcoin will be the same way. Over time, I will stop saying to people, ‘Don’t use it unless you’re technically proficient enough to keep your computer secure’....
Bitcoin is wild and crazy investment that I’m diversifying out of all the time.If bitcoin is wildly successful, I’m still holding on to a good chunk of bitcoin. It could be worth tens of millions of dollars, but it could be worth zero. 


  1. "... but it could be worth zero."


    If bitcoins fall to zero, just buy a pizza with a *different* number that you pull out of your rear, and arbitrarily use *that* to goose demand amongst the gullible.

    Problem solved.

  2. The creep wasn't saying this on the way up but now that he's cashed in and has "diversified" and the thing is known to be headed to zero he feels it's safe to hint at the truth that the whole thing is a scam.