62 thoughts on “Thought I might share this in here. No way Bitcoin is going to survive folks…

  1. shutz2 February 12, 2018 / 5:09 pm

    Devil’s advocate, here: could we find examples of promising technology that was panned like this, and eventually proven as failures?

    I’d just like to remove some of the confirmation bias from this and similar posts.

  2. crytpolo224 February 12, 2018 / 5:09 pm

    What’s interesting is that some of the criticisms aren’t wrong, and that visonairies took those criticisms and found a way to make it even better.

    Take for example the article in Newsweek about the internet. The author’s main complaint back in 1998 was that it was time consuming and diffilult to find and pin down relevant sources of information on the open web. We laugh at him now because it’s so easy to do what he is speaking of. Oh and why is that? Because a couple guys agreed with him and developed algorithsms to search and extract relevant sites and data in a way the average person could use.

    I think they did pretty well heeding this guys concerns.

  3. Tapprunner February 12, 2018 / 5:09 pm

    The tank one actually makes sense. Early French tank in the WW1 museum in Kansas City had a range of 26 miles and went like 2 mph. It was essentially a sitting duck.

    It’s gun also couldn’t turn side to side.

    When that’s what a tank was at the time, yeah it seems like there’s no way that’s going to replace anything or be in any way useful.

  4. biologischeavocado February 12, 2018 / 5:09 pm

    2018 “We won’t process transactions in bitcoin, because it’s not a payment system.”

    Visa CEO Alfred Kelly

  5. Destiner February 12, 2018 / 5:09 pm

    Yeah, except selection bias.

  6. bunnybank24 February 12, 2018 / 5:09 pm

    I hope everyone takes this with a grain of salt. There are many examples when technologies didn’t find their application in our world despite having been hyped and talked of

  7. Firehawk-76 February 12, 2018 / 5:09 pm

    More and more I agree with 1927.

  8. SilverGryphon February 12, 2018 / 5:09 pm

    Cryptocurrency as a whole could stay, but not necessarily with bitcoin still leading the way in terms of market cap.

  9. bisilfishil February 12, 2018 / 5:09 pm

    None of these have anything to do with Bitcoin

  10. schnallabel February 12, 2018 / 5:09 pm

    Came here from r/all. Must’ve scrolled down too far.

    Jesus Christ tho. Are you really comparing bitcoin to the invention of the lightbulb? Don’t you think that’s a bit… arrogant? I’m not saying bitcoin is going to flop, but it’s not a goddamn lightbulb. The average Joe can switch on a lightbulb. The average Joe does not know how bitcoin works, or even what you do with it, and the average Joe probably wouldn’t even be capable of using it at this stage if he knew what to do with it.

    You guys have a lot of things to sort out before the average person could even consider using bitcoin for anything. This list is full of inventions average people use. Instead of -whatever this is-, realize that it *does* have shortcomings, and it’s *not something for the average person.* Until it *is* something for the average person, **stop comparing it to things for the average person.**

  11. BTCNoMore February 12, 2018 / 5:09 pm

    So your going to compare actual items that have intrinsic value to a currency which only purpose is to be decentralized and anonymous? I never understood how the world worked. If bitcoin had an unlimited supply, then none of you would give a shit about it.

  12. enqvistx February 12, 2018 / 5:09 pm

    Hoarding Bitcoin now might as well turn out as hoarding “laptops” from 1977 or radios from 1921 or lightbulbs from 1880.

    If you believe Apple makes good products you invest in Apple and not in thousands of iPhones, do you?

  13. vladkgb February 12, 2018 / 5:09 pm

    Don’t forget the FUD spread about Google and Tesla when they were coming up. Also calling them fads etc.

  14. Risay117 February 12, 2018 / 5:09 pm

    Umm, the idea of cryptocurrency will survive, but the question is if. Itcoin will survive the curse of the first in the market. Cause every other company that started usually struggle to survive as something else always comes to take it’s throne. Like Facebook to Myspace, or Reddit to Digg.

  15. Dank_Memes16 February 12, 2018 / 5:09 pm

    The computer one kinda makes sense, as back then computers were huge, expensive, and couldn’t do much

  16. jagbot February 12, 2018 / 5:09 pm

    poor clifford stoll had the last word.

  17. ProNoob135 February 12, 2018 / 5:09 pm

    Sad to see cliff stoll here xD

  18. aniriardna February 12, 2018 / 5:09 pm

    Ah, poor ol’ Cliff! He’s been such a good sport about his ’95 howler.

  19. Popsmech February 12, 2018 / 5:09 pm

    Look at VHS and BETA MAX everybody knows the porn industry is the real technical power 😆

  20. samsonx February 12, 2018 / 5:09 pm

    They were right. People literally talk about the first generation product as if it won’t be developed over time.

    They look at that crappy plywood box tv set and think thats nice but it won’t catch on. It didn’t catch on until they got better, bigger, able to handle more channels, etc. I’d bet that the first oil well pump wasn’t too great either but they soon learned how to make pumps which could handle the quantity.

    The lesson here is that the very early generations of any new tech will be largely useless in the long run.

    It takes time to get it right……

  21. heyfeefellskee February 12, 2018 / 5:09 pm

    To be fair there have been a lot of technologies people felt very confident about but never panned out.

  22. antlerstopeaks February 12, 2018 / 5:09 pm

    The irony here is hilarious. The outdated and practically prehistoric bitcoin is talking about how it isn’t a fad that will be forgotten… meanwhile far more advanced and useful blockchain technology has already replaced it.

  23. GARobinson February 12, 2018 / 5:09 pm

    Most of the auto companies that existed are out of business. Only a handful are left. It’s easy to reverse engineer your logic but if you went back to when cars were invented and tried to pick the winner, you would be broke. Ford didn’t invent the automobile. He improved the process and put almost everyone else out of business, which is what will happen to bitcoin when the big banks or Amazon create their own, more stable currency.

  24. ScrantonPartyy February 12, 2018 / 5:09 pm

    Funny but this is hardly a valid argument. Lots of tech claims to be the next big thing and goes out with a whimper. This pic is just cherry picked successful tech.

    Sure Bitcoin could get added to that list (and I hope it does), but it could just as easy be a tech that goes out with a whimper.

  25. HomeLandMiner February 12, 2018 / 5:09 pm

    In this case, Bitcoin is the outdated tank, and every other coin that has built upon the idea and made a better one, is the next version a Tesla car. Clinging to BTC is no different than clinging to your Model T Ford and saying “ain’t she purdy?!” Maybe, but I prefer air bags and driver assist. And when you have, driver-less, I’ll take two.

  26. Rizpagius February 12, 2018 / 5:09 pm

    Confirmation bias. There were hundrets of promising Technologies that failed.

  27. kimbunchu February 12, 2018 / 5:09 pm

    I thought you were saying Bitcoin was the horse and (________ ) was the automobile!! Whew…

  28. quicksiver February 12, 2018 / 5:09 pm

    Uh, all those inventions were improved upon first. Bitcoin has a lot if work to do.

  29. Spicesquatch February 12, 2018 / 5:09 pm

    Reminds me of a local radio DJ one time who once stated: internet radio will never replace me

    I wonder if he put down Spotify as his reason for unemployment when he filed for benefits?

  30. dvstud February 12, 2018 / 5:09 pm

    Could it be a different of blockchain payment system, this doesn’t proof that it has to be bitcoin. Phones have transformed into something completely different from what they started as so it doesn’t have to be bitcoin holding any value but another form of crypto or blockchain?

  31. somerandomrubbish February 12, 2018 / 5:09 pm

    So, basically, some people before have been wrong about stuff.

  32. pies4days February 12, 2018 / 5:09 pm

    Now do one for all the things that were supposed to be the future but failed.

  33. lodobol February 12, 2018 / 5:09 pm

    Out with the old in with the moon.

  34. Bluecoregamming February 12, 2018 / 5:09 pm

    “who the hell wants to hear actors talk”
    ….ar….are you stupid?

  35. parkufarku February 12, 2018 / 5:09 pm

    OP trying too hard and indirectly proving the opposite point he actually intended.

  36. buxtonwater3 February 12, 2018 / 5:09 pm

    “Cryptos live,
    Bitcoin bleeds”
    – Otto Delaney

  37. palalab February 12, 2018 / 5:09 pm

    >”Who the hell wants to hear actors talk?”

    This one still holds true, especially post-election.

  38. davidonger February 12, 2018 / 5:09 pm

    But these things were useful….

  39. PyrrhicVictory7 February 12, 2018 / 5:09 pm

    What have these assumptions got to do with bitcoin exactly?

  40. keypusher February 12, 2018 / 5:09 pm

    Many good ideas have been called stupid. That does not mean every idea that has been called stupid is actually good.

  41. Tyler_Zoro February 12, 2018 / 5:09 pm

    Interestingly, one of those examples is not really giving you the whole story. [This LA Times article](http://www.latimes.com/business/hiltzik/la-fi-mh-actually-that-offbase-20150227-column.html) explains that Clifford Stoll’s forward-looking appraisal of the Internet in 1995 was shockingly correct on many points, and wrong on a few… But we only like to quote the bits that he got wrong.

    I don’t think that the future of Bitcoin is that its detractors will be mostly right, but perhaps that’s the cautionary tale we should take from such glib quote-fests…

  42. urdespair February 12, 2018 / 5:09 pm

    yup, create more posts like this till the thing goes up once again

  43. Natchili February 12, 2018 / 5:09 pm

    And you think Bitcoin is just like that?

  44. cryptocoinmining February 12, 2018 / 5:09 pm

    Sometimes not all good things succeed, my main gripe with that is mini-disc. Was such a great technology

  45. adalonus February 12, 2018 / 5:09 pm

    He was also… WRONG, making him and everyone else on Earth look like a bitch again.

    You see, science is a liar… Sometimes.

  46. My_Monday_Account February 12, 2018 / 5:09 pm

    “Rvolutionary” failures that are not pictured: Laserdisk, BetaMax, VirtualBoy, WebTV, NGage, Google Glass, Ouya, Leaded gasoline, Apple Newton, Microsoft Bob, the McDLT, Zune, HD-DVD, the Nook, Coors Rocky Mountain Spring Water, Enron, Delorean motors.

    It’s easy to pick and choose your success stories when you’re trying to make a point but putting out completely bias nonsense like this isn’t going to win anyone to your side.

  47. ABaadPun February 12, 2018 / 5:09 pm

    Cryptocurrencies have bad their biggest sucess being bought and sold as stock; they’ve failed to be actuall currencies as of yet.

  48. Nertez February 12, 2018 / 5:09 pm

    The TV prediction is quite right.

  49. jock-o-homo February 12, 2018 / 5:09 pm

    It gotta be useful first though, man

  50. megablue February 12, 2018 / 5:09 pm

    the coin have 2 sides, one can easily present the counter arguments…

    maybe that was your intention all along, then I say you are very successful in provoking some deeper thoughts.

  51. zubeye February 12, 2018 / 5:09 pm

    Okay, but plentry of car companies failed, plenty of dotcom websites fail, radio stations make no money. None of this means that bitcoin will succeed?

  52. NPVT February 12, 2018 / 5:09 pm

    Yes but it might not be bitcoin.

  53. Namboman February 12, 2018 / 5:09 pm

    The OP shows just as much ignorance as crypto doubters by using this quote and this man as some incorrect “expert” opinion on tanks.

    This dude was one of the worst commanders in British history, and earned a nickname for how callously he sent his men to the slaughterhouse with nothing to gain from it

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