from Hacker News

Former CEO of Paypal, Intuit: “Bitcoin is the greatest scam in history”

by DEFCON28 on 4/29/18, 3:10 AM with 40 comments

  • by DrScump on 4/29/18, 6:27 AM

  • by fragmede on 4/29/18, 6:04 AM

    I'd believe Intuit's CEO as I trust him to know about scams - he's running one of the most successful ones there is! He successfully lobbied Congress and the IRS to mandate the use of tax preparation software, and hey, guess what his company makes?

  • by OscarCunningham on 4/29/18, 10:29 AM

    It might not be a good idea, but I don't think it's fair to call it a "scam". I don't think Satoshi created it with the anticipation that it would fail.

  • by admyral on 4/29/18, 7:05 PM

    What's so righteous about the status quo that makes skeptics feel so compelled to defend it so vehemently by degrading Bitcoin?

    But it seems we should be far beyond Denial and Anger stage and well into Bargaining and Guilt at this point. Don't worry, he'll join the chorus of "blockchain is good, Bitcoin is bad" rhetoric soon enough.

  • by viraptor on 4/29/18, 4:45 AM

    I'm not sure why they needed to add incorrect/unfounded ideas to the otherwise ok article.

    > Because transactions can be anonymous — law enforcement cannot easily trace who buys and sells — its use is dominated by illegal endeavors.

    That's a no, no, and [citation needed]. Especially since later they write:

    > The IRS recently ordered one major exchange to produce records of every significant transaction.

  • by llcoolv on 4/29/18, 2:53 PM

    https://cointelegraph.com/news/bitcoin-is-a-scam-claims-oust...

    Seems like Harris spent around 20 working days as "PayPal Founding CEO" before he got figured out. Quite ridiculous.

  • by angersock on 4/29/18, 3:48 AM

    I mean, it is though.

    Consider the quality of life that could've been achieved with the same energy cost, material cost, and eventual environmental cost--all so that nerds can collect Merkle pogs.

  • by hapnin on 4/29/18, 3:21 AM

    Reminds me of this piece re: other fields:

    President of American Association of Buggy-Whip Manufacturers takes a strong stand against internal combustion engine, argues that the so-called “automobile” has “little grounding in theory” and that “results can vary widely based on the particular fuel that is used” [0]

    [0] http://andrewgelman.com/2014/08/06/president-american-associ...