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LETTER: Mainstream isn’t ready yet for Bitcoin

“Bitcoin has gone through these cycles of inflated expectations before”

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RE: KARRINGTEN: Bitcoin’s economic case just got even better

We are indeed in unprecedented times in global finance but beware the slick operators that show up to sell you a cure-all with a nice clean story and throw out price target numbers to trigger one’s greed response.

In her published article, Koleya Karrington is quick to repeat the ‘inflation hedge’ narrative with reference to Bitcoin’s 21 million unit (2.1 quadrillion subunit) limit on issuance, however she fails to mention the vast amounts held by speculators happy to ‘issue’ their units onto the market after a retail speculative frenzy occurs. A frenzy of early investors greedily cashing out on later, less informed investors.

Bitcoin has gone through these cycles of inflated expectations before. The tendency is to buy high and sell low. This will likely continue to facilitate a large transfer of wealth from retail investors to more sophisticated professionals.

Bitcoin is indeed quite promising for its ability to transact on a peer-to-peer network and represents new possibilities for programmable money including micropayments and derivative contracts. However, the technology isn’t ready for the mainstream and the mainstream isn’t ready for the technology.

Jarret Dyrbye
BSc. MSc. Computer Engineering
Bitcoin technology developer and consultant
Edmonton, Alberta

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Letters to the Editor of the Western Standard are posted under this account. Letters do not necessarily reflect the editorial position of the Western Standard or its columnists.

Letters

LETTER: Trudeau gun grab just a way to get urban votes

Enforcing any and all of his gun laws would take firearms away from duck hunters and target shooters

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RE: Cities able to ban handguns under Liberal gun grab program

Trudeau’s gun control legislation has nothing to do with public safety, and everything to do with elections.

It gets him a lot of city votes

He will never take any firearms off the streets, because it would violate the ‘holy rights’ of our so-called Indigenous people to continue to trade in all kinds of illegal products and substances, including guns and ammo.

Enforcing any and all of his gun laws would take firearms away from duck hunters and target shooters, while leaving armed criminal gangs free to fight their wars and trade their drugs in our city streets.

Andy Thomsen
Kelowna, BC

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Letters

LETTER: Mr. Kenney, release pastor James Coates!

God gives each person rights, not you, or any other government official.

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RE: Pastor Coates denied bail


Your totalitarian government rule is an egregious affront to God Almighty, Whose name is invoked as the ruling authority in Alberta’s Bill of Rights.

God gives each person rights, not you, or any other government official. Remember, you are a servant of the people, not a supreme ruler.


You have oppressed and trampled on the rights and freedoms of the people of Alberta long enough – Free James Coates!

Jennifer Dyck
Cardston, Siksika

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Letters

LETTER: Trudeau gun grab just an election ploy

Trudeau’s gun control legislation has nothing to do with public safety, and everything to do with elections

mm

Published

on

RE: Cities able to ban handguns under Liberal gun grab program

Trudeau’s gun control legislation has nothing to do with public safety, and everything to do with elections.

It gets him a lot of city votes

He will never take any firearms off the streets, because it would violate the ‘holy rights’ of our so-called indigenous people to continue to trade in all kinds of illegal products and substances, including guns and ammo.

Enforcing any and all of his gun laws would take firearms away from duck hunters and target shooters, while leaving armed criminal gangs free to fight their wars and trade their drugs in our city streets.

Andy Thomsen
Kelowna, BC

Want to submit a letter to the editor? Review our guidelines and submit yours here

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