It's very simple to explain:
BitCoin is Stupid:
The fact that the global financial system is a crock does not mean that every proposal to fix it must succeed. Nor does the fact that the Internet took off mean that everything else will.
BitCoiners get very upset about any criticism of their scheme but Andreas spent quite a bit of time making snide comments about the Federal Reserve and the 'fake' economic activity he claims is going on. Seems to me this is an ideology rather than a technology.
I like the New Yorker's take on the matter
I like that. Marc Andreeson, Peter Thiel, Vivek Ranadive and Trace Meyer apparently know nothing about investing.
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