John Crudele of the NY Post Calls Bitcoin a "Confidence Game"
John Crudele has written a piece on the NY Post calling Bitcoin a "Confidence Game" while being insulting towards Bitcoin enthusiasts. His apparent lack of knowledge in the Bitcoin market has BitcoinTalk members calling him out on that. For those of you who do not know what a confidence game is, Dictionary.com defines a "Confidence Game" as "any swindle in which the swindler, after gaining the confidence of the victim, robs the victim by cheating at a gambling game, appropriating funds entrusted for investment, or the like." John Crudele of the NY Post Calls Bitcoin a "Confidence Game". In....
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Recently, that illustrious portal, The New York Post, posted a criticism of Bitcoin entitled MIT Students Engineering Bitcoin Scheme. The piece by John Crudele was widely criticized for Mr. Crudele's apparent lack of knowledge in basic economics let alone cryptocurrency. If we follow the money behind The New York Post, we will find that this type of "Yellow journalism" is the norm over there. However, I believe that everyone is entitled to an opinion, and that includes Mr. Crudele. I believe that every journalist, or writer, or hack, is entitled to earn an income, and I believe that John....
On Thursday, New York Post columnist John Crudele published a patronizing critique of the MIT Bitcoin project, an initiative announced last spring that will see every undergraduate at MIT receive about US$100 worth of bitcoins this fall. Crudele’s main problem with this project is that he feels MIT is being irresponsible in letting students mess around with money he feels has questionable value. Crudele’s argument is dripping with scorn and riddled with logical fallacies. In the near future, the leaders of Massachusetts Institute of Technology will have to decide whether they want to take....
In a blog post titled "Is 2016 the year that electronic currency challenges government?" on SiliconAngle, ace software personality Dr. John McAfee has said that governments have a strong interest in controlling digital currencies. "These governments are certainly interested in regulating and controlling the smallest things in our lives, and there is little doubt that its interests in digital currencies are going to be the same." He gave a strong vote of confidence to the possibility that digital currencies (such as Bitcoin) are an unavoidable reality for us. Central banks have also been....
Computer game programmer John Carmack expressed some pretty positive views on bitcoin in a series of recent tweets. Carmack is co-founder of American video game development company id Software and is best known for his innovations in 3D graphics. He was the lead programmer of the id video games Commander Keen, Wolfenstein 3D, Doom, Quake, Rage and their sequels. Yesterday, he was asked by a Twitter user to share his thoughts on bitcoin and other digital currencies, his response was largely positive. @Ripper__X I have paid a little attention for a couple years, but I only did my first....
In this episode of the "Bitcoin Magazine Podcast," John Newbery discusses Bitcoin development, Taproot and Brink. The post Interview: Developing Bitcoin With John Newbery appeared first on Bitcoin Magazine.