“Airplanes won’t work because they can only fly for 40 feet.” – Every no-plainer in 1903
Every “debate” between a nocoiner and bitcoiner I have seen or listened to to date have been fundamentally boring and uninformative, to me at least. The reason for this, in my opinion, is simple: these debates are being held in different time zones and, therefore, can never discuss topics relevant to each debater’s time zone.
I’m obviously not speaking about debates held over the internet with participants in different geographical time zones, but rather participants that talk in present and future terms. It’s because of these different time perspectives that most of these debates end up as a waste of time. Beautiful debates can only happen when both participants are arguing in the same time zone (or of they agree about something and then debate about the time zone of that certain point).
There is no bitcoiner I know, that is worth his salt, that does not admit that at this very moment, bitcoin is not a great currency. Bitcoin is slow, it’s volatile, it’s illiquid, its adoption is low, it isn’t private, and the list goes on. I, like I believe most bitcoiners, will admit that as at today, your Rands, that only lose around 4%-6% of their value per year is a better form of money than bitcoin that has lost over 20% of its value in the last few weeks. But that is as far as our agreement goes, and unfortunately that is as far as most nocoiners dare to look into the future.
The far more interesting questions that remain unanswered and undiscussed in these debates lie outside the periphery of the now. Admittedly, this is usually where most of the bitcoiners try to take these conversations, but nocoiners simply refuse to meet us even halfway.
Questions like what impact a disinflationary money will have on the global economy or the spending habits of individuals cannot be discussed because nocoiners either do not have the ability to appreciate that bitcoin is a technology that will improve going forward, or they are disingenuous about their ultimate motivations for the point of view they hold. Looking at bitcoin as a static rather than dynamic thing is either foolish or dishonest.
Admittedly, just because bitcoin is a technology, does not mean that it will inevitably be successful. But with a ten-year track record of working precisely as advertised at its core, it would be foolish to think that it won’t get better around the edges. With an uptime of 99.99% and incentive structure delivered straight from the hands of God, you don’t need much stretch of the imagination to assume that most problems from an engineering perspective will be overcome.
But that is not the way the nocoiner will look at bitcoin. They have the perverse idea that airplanes should have immediately carried people across the globe in 1903 for the technology to be considered successful. They stare at the limitations of the now and consider bitcoin a failure, while bitcoiners look at the future and only see success.
Who will be right? I’ve placed my bets.
Is this good for bitcoin? Yes.