Why bitcoin bears should beware of making mistakes

There will always be people who criticize the creators of breakthrough technologies. And their criticism can affect nobody or millions, depending on its reach. However, the loudest are often leaders in their fields and influential because of their jobs.

These opponents of innovation confront anyone who tries what was thought to be impossible and ridicule the people behind the most important inventions of their time. But their predictions age poorly as they are soon doused in the wave of adoption that follows their comments. As Bitcoin continues to become one of the most influential innovations in history, remarkable opposites are added every day. And with every increase in price and relevance, their magnetic attraction to these megaphone dead increases.

I won’t speculate much on why they are attacking the alpha coin, but fear of harm or change is a likely cause. Many of the above are accomplished in the business, finance, and technology sectors – all sectors that are changing due to Bitcoin. Maybe they feel threatened like a small dog barking at a bigger one. Or as a child who cries when first dropped off at school, they may sulk that Bitcoin fails to recognize the lessons it can learn if it embraces the changes it faces. Whatever their reasons, they choose to align themselves with the bears of innovation of the past and, over time, will be reminded that they did not prevent the inevitable.

Here are five badly aged quotes from notable characters and paired quotes from Bitcoin bears:

1a. Robert Metcalfe, 1995: “I predict that the Internet will soon become a spectacular supernova and catastrophically collapse in 1996.”

1b. Peter Schiff, 2021: “Bitcoin is not a currency. It is only used for speculation. I don’t think these bitcoin collections will be worth anything when the music stops. “

2a. Western Union executives on the phone from Alexander Graham Bell, 1876: “His device is little more than a toy.”

2 B. Donald Trump, 2021: “Bitcoin just seems to be a scam. I don’t like it because it’s a different currency that competes with the dollar. “

3a. Stanley Mosely, 1905: “It is utter nonsense to believe that flying machines will ever work.”

3b. Charlie Munger, 2021: “I hate Bitcoin success. I find the whole damned development disgusting and contradicts the interests of civilization. “

While this list is short, it is a reference to the famous forces against Bitcoin. As we can see, Bitcoin is in great company as so many oppose it. If these past examples are any clue, Bitcoin is well on its way to mass adoption and world-changing status in the pantheon of great inventions throughout history.

This is a guest post by Josh Doña. The opinions expressed are solely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

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