The currency is basically a joke, says Jim Edwards, regurgitating taglines

I felt warmly towards this article, until a got towards the end.  The author, says: “Bitcoin similarly threatens banks. Not because it is an online currency. The currency is basically a joke.”

Now, I agree that Bitcoin threatens the banks.

Furthermore, I agree that the blockchain is a powerful insight by Satoshi Nakamoto and it may permeate the economy and society in many more senses than the one shown in the 2008 fateful paper.

Also, through technological progress, changing economies, political upheavals or other assorted forces, Bitcoin as we know it today may not be around forever.

In spite of all this, why is Bitcoin a joke?

Maybe Mr. Edwards hoped to make a killing when he bought BTC @ $1000?

I think it is poor journalism to pick up on widely repeated and badly reasoned headlines and it is even worse when they are not only not substantiated, but also further distorted by simplifying and sensationalizing the concept.

Personally, I think Bitcoin is far from a joke and I believe it is imperative that I affirm it.  Bitcoin is possibly just the first application of blockchain technology, and may not be seen as the most important by the next century, but it is already significant, it will continue to increase its relevance for everyday life and will certainly spawn direct and indirectly many changes for humanity, happy for some unhappy for others.

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