Doomsdayers and Naysayers Battle It Out Over Bitcoin
Two distinct schools of thought have emerged about Bitcoin: It is a stable and decentralized currency or it’s a junk fiat currency.
Since its creation in 2007, Bitcoin has been in a constant state of turmoil. And during all that turmoil, two distinct schools of thought emerged: Bitcoin is a stable, decentralized currency that will save us all, or it’s a junk fiat currency that’s been “over” since it started.
New York contributor Kevin Roose compares Bitcoin champions to a doomsday cult from the 1950’s. Just as doomsday cults often stick to their message long after the world fails to end, Roose thinks Bitcoin has generated the same kind of fervent atmosphere.
“It has never been enough for this group to have supported the rise of a nifty new experimental currency — what they want, and what they believe is coming, is the dawn of an entirely new age,” Roose writes.
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