Let's count all the ways 'michaelochurch is being fatuous here:
* Even if you agree with him that Bitcoin is a scam, as I do, YC does not necessarily agree
* Similarly, Coinbase doesn't have to agree with us, in which case they're also not willfully furthering a scam
* None of his points have anything to do with the thread, which isn't about intrinsic problems with Bitcoin but instead stability problems at Coinbase.
Fwiw I'm genuinely curious how people who are convinced BTC is a scam see it playing out. Generally, once a scam is exposed, it collapses, so what does that look like with bitcoin? But if that's too OT, I'll save it for another thread.
Early entrants in the market extract profits, leave the "currency" to deflate back to Flooz valuations. At a certain point in the life cycle of things like BTC, trading takes on a life of its own. I'm sure tulip traders could have given you an impassioned defense on the intrinsic long-term value of tulip bulbs during that bubble, too.
That's quite an accusation. Is there some smoking gun evidence we should all be aware of?
Let's assume for a minute you're right, and it is a sleazy scam. How do you see it playing out and ultimately
Disclaimer: I think it's certainly possible, but not a certainty.