Thanks for clarifying. OK, there’s too many factual errors to try and address individually and there’s actually plenty of resources online available for you to look at if you don’t rate my work, so could I make a suggestion?

Since you’re clearly so passionate about the subject (great to see!), why not spend a little time getting some of the detail down to make your case? There’s plenty of angles that are not yet fully proven in the Bitcoin world that are up for passionate debate (and some of them are genuine issues that really do need to be resolved properly), but the whole ‘greater fool theory/ponzi scheme’ angle is a bit 2018 and there’s not many who still consider it a valid argument (except possibly among people new to the space who don’t understand it yet and those with little macro economic knowledge who might still buy in)

Having now spent several years full time in the space and having presented to and spoken to hundreds (if not thousands) of people on the subject as well as keeping up to date with all the latest developments (it’s now a full time job, things are moving so fast!), I can assure you that running into someone who doesn’t like it comes up from time to time. In a typical room full of people that I’d present to, I’d say anywhere between 0 and 20% can have the same view. And, as I always say, that’s perfectly OK with me. It’s not my job to convince anyone, just help those who are interested in moving forward with will inevitably be the future. That’s what these articles are for. Interestingly, this one went viral which may be an indicator of the level of interest that’s currently out there.

Maybe you’re right and it won’t be Bitcoin itself (which is your main point I think), but there’s little doubt now that we will be using some form of crypto itself, even if it’s the government issued ones the central bodies claim to be working on. (We’ll see in time I guess on that point). In any case, we’ll all need to get used to using it at some point and in some format. I’m open minded about where this could go.

In many ways, reminds me so much of the days when we we trying to promote the internet to people which is what I was heavily involved in the mid 90’s. I think we forget now just how much resistance there was and how so many people thought it was a waste of time and money. The main arguments against were: no-one would use it (except for students and researchers) and no-one would ever buy anything on it when you could see it in a shop! Remember Nobel economists Paul Krugman’s famous quote about the internet? That it would have no greater impact than a fax machine and that we wouldn’t need it past 2005?! Yup, even economist thought it was a waste of time.

Seems crazy now, but it’s always the same with new ‘stuff’. It was the same with cell phones too — got my first one in 1991 as I was utterly convinced it was the future, but the hassle I got for doing so was quite surprising.

I can address the ‘returns vs company equity’ error quite easily as I already wrote an article on it with some detailed (publicly verifiable) numbers, worth a read if you haven’t already, might help a bit:

Finally, just to correct your statement about student loans — you seem to have misread what I wrote, it wasn’t a couple of months, although I wish it had been! And no, it wasn’t done through Bitcoin, that didn’t exist when I graduated from uni in 1993 in economics and law. I did it the ‘traditional’ way!

Anyway, hope this has helped, sorry its a bit of rushed reply. I respect that you’re passionate about the subject and you can clearly write a bit, be great to debate the matter again in the future! Let me know if I can help with anything else!

All the best


I blog on things I am passionate about: Bitcoin, writing, money, life’s crazy turns and being a dad. Lover of learning, family and cheese. (

I blog on things I am passionate about: Bitcoin, writing, money, life’s crazy turns and being a dad. Lover of learning, family and cheese. (