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Print 12 comment(s) - last by Ryanman.. on Mar 13 at 8:57 AM

Funny video highlights serious issues with the world's most popular cryptocurrency.

Given all the Bitcoin scams and Bitcoin scammers around these days, some are trying to figure out why people are entrusting so much money in a scheme predisposed to fraud and popular among fraud artists.
 
Conan O'Brien offers a humorous take on this mess, interviewing the "COO of Bitcoin".  In the video, the Bitcoin professional tries to explain in "layman's terms" and then with a high-production video what exactly Bitcoin is.



Mr. O'Brien deserves some props for getting close to the definition when comparing Bitcoin to PayPal.  Bitcoin to the common man is a lot like PayPal.  It is arguably not a currency
 
However, unlike PayPal it is stored locally as data in wallet apps, making it pretty easy to steal.  And it acts as a speculative investment.  And it seeds wealth to early adopters.  And it makes a tempting honeypot for government sorts, who watch bemused as drug sellers mail packages of drugs in the mail, thinking they will be protected by Bitcoin's "anonymity".

Source: TeamCoco



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RE: Never any upsides
By v1001 on 3/11/2014 12:15:52 PM , Rating: 2
Are you kidding all we had to hear about for years was all the fools who prophesied about bitcoin like it was the second coming of the real currency. They'd attack anyone who said different. It's nice to finally get to hear the real story about it. It deserves to be ridiculed so hopefully more blind won't keep leading the blind. For years you people kept pumping this junk for your own gain. Turning a blind eye to it's down sides. Let's give some more warnings to this disaster so others don't get ensnared.


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