The Phaserl


A Calm Analysis of Bitcoins as a Currency

by Gonzalo Lira:

I got quite a bit of backlash for writing a couple of days ago about bitcoin (post here). My criticisms were fairly mild—I’m not unsympathetic to the drive behind making bitcoin work.

But even such mild criticism of the bitcoin enterprise was enough for some of the bitcoin-faithful to denounce me as a heretic, or worse, an apostate. Or worse, a shill for the banksters and their minions. Or worse still, a fucking idiot who didn’t know shit-all about bitcoins and what they represent—the future!

Okay . . .

To be clear, I am not against bitcoin, or any other of the so-called “cryptocurrencies” (cybercurrency sounds more accurate, but I’ll stick with the current convention).

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