Bloomberg shows why Bitcoin is anything but doomed

Bitcoin Life

The extent of wrongness to which some arguments go to convince you to do something always amazes me. This week it’s the pitiable effort to which Timothy Lavin over at Bloomberg.com has gone to try to denounce Bitcoin as a haven of criminality, in its ‘The SEC Shows Why Bitcoin is Doomed‘ piece.

The oxymoronic (and US-centric) argument somehow proclaims that “the closer Bitcoin gets to being an accepted currency, the less useful it will be as a method of exchange.”

Huh? Ah ok, so Lavin notes that the very point, the existential reasoning behind Bitcoin, is to be unaccepted or unacceptable. OK, there’s a fair amount of truth to that. It’s designed to be uncontrollable which is similar. But different.

That’s right – designed. Heavy crypto and p2p networks. Software engineering. That’d be obvious, you’d think. But apparently not:

“Almost all the advantages Bitcoin has —…

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