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vpnbear
Member since May 2012
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Why Michael Pento Should Just Keep His Mouth Shut

- Trace Mayer - Run to Gold

Dear Mr Mayer,

You boast that you have been using the Internet since 1994. I have been using it since the 80ies, when no browsers existed yet, and one had to make do with mail, telnet and ftp. So I think I am not one of your digidiots.
However, no matter what the merits of bitcoin may or may not be, I feel that you overlook some crucial points.
First, when the shit really hits the fan, I believe the existence and availability of Internet may no longer be a given. Probably hard to imagine for your generation, but by no means impossible or even unlikely. And without Internet or electricity to power your computer your precious bitcoins become about as useful as a wheelbarrow without its wheel.
Second, bitcoin is all but hidden from our benevolent government, so you can be damned sure that once it starts becoming really serious, it will be shut down. Institutions like the CIA, DHS, FBI and NSA will make sure of that. Bitcoin is out there in the open on the Internet, so it can be targeted by these guys. And it will. No matter its technical merits, once it becomes a threat, it will go down in flames.

So, feel free to call Mr Pento and his ilk names. But in my opinion, you are a shortsighted fool who places an absurd amount of trust in an unproven technical solution based on a government-controlled infrastructure dependent on an increasingly uncertain societal framework.

Best of luck with your bitcoins. I will stay with my physical PM´s safely stored outside the government´s reach, thank you.

Commented 4206 days ago

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Beginning of the headline :Tweet One aspect of technology is that it takes intellectual capacity along with consistent and diligent effort to become competent.Michael Pento, a fairly prominent gold bug, recently appeared on CNBC for a discussion on Bitcoin. Based on his performance the only thing I could think of was, ‘This has to be an April Fools joke. Then my mind shifted to the phrase that it is better to remain quiet and be thought a fool than to open one’s mouth and remove all doubt.’ Mr. Pento really should have re... Read More

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