{"id":115210,"date":"2020-11-19T05:39:46","date_gmt":"2020-11-19T02:39:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/everything-the-felder-report-got-wrong-about-bitcoin\/"},"modified":"2020-11-19T05:39:46","modified_gmt":"2020-11-19T02:39:46","slug":"everything-the-felder-report-got-wrong-about-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/everything-the-felder-report-got-wrong-about-bitcoin\/","title":{"rendered":"# Everything The Felder Report got wrong about Bitcoin"},"content":{"rendered":"<p>&#8220;<strong># Everything The Felder Report got wrong about Bitcoin <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTEvN2Y1ZTdiOTYtZGY2NS00MTE0LTgxZDUtNDZlMjhlNzQ3ZTIwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoiners are crying foul at former billion-dollar hedge fund manager Jesse Felder&#8217;s &#8220;inaccurate&#8221; hot take blog post about Bitcoin today in which he claims the crypto asset \u201cdoesn\u2019t make sense as an investment nor as a currency alternative.\u201d Bitcoiners seemed taken aback by the number of factual inaccuracies in the post coming from someone working in finance.<\/p>\n<p>In the Nov. 18 post on his financial blog titled \u201cPlease Stop Asking Me About Bitcoin,\u201d Felder <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/thefelderreport.com\/2020\/11\/18\/please-stop-asking-me-about-bitcoin\/\">claims<\/a> Bitcoin (BTC) is not used as a medium of exchange, nor does it provide any store of value. He also questioned the value of one of the key features of the cryptocurrency \u2014 its scarcity, with only 21 million possible coins \u2014 by claiming that hard forks are \u201cmultiplying the number and type of Bitcoins in circulation.\u201d<\/p>\n<p>\u201cIf you put together all the hard forks Bitcoin has undergone since it was first created, the number of total Bitcoins has actually grown faster than the number of dollars,\u201d said Felder. \u201cThat\u2019s a fact.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">NEW POST: Please Stop Asking Me About Bitcoin <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/xkD8no6lgr\">https:\/\/t.co\/xkD8no6lgr<\/a><\/p>\n<p>\u2014 Jesse Felder (@jessefelder) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/jessefelder\/status\/1329102138774065158?ref_src=twsrc%5Etfw\">November 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>However, it\u2019s not a fact unless you mistake BCH or BSV as part of the Bitcoin supply. Coin Metrics co-founder Nic Carter was quick to correct this, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/nic__carter\/status\/1329138147469516802\">stating<\/a> that &#8220;almost everything in this post is wrong&#8221; and pointed out that &#8220;hard forks did not dilute Bitcoin.&#8221;<\/p>\n<p>The former hedge fund manager also claimed that Bitcoin could \u201cbe supplanted by a better cryptocurrency\u201d that hasn\u2019t been created yet. More than one <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/JDP223\/status\/1329150109062483972\">said<\/a> that this would be &#8220;highly unlikely&#8221; due to network effects. <\/p>\n<p>Felder also seemed to be operating under the belief that the Bitcoin network itself had been attacked, rather than insecure exchanges or wallets with poor security, when he claimed \u201cmillions of dollars worth of Bitcoin has been hacked.&#8221; He continued:<\/p>\n<blockquote><p>&#8220;Bitcoin may make a great deal of sense as a speculation. Ponzi schemes can work out great for early adopters.&#8221;<\/p><\/blockquote>\n<p>Felder\u2019s confident assertions about Bitcoin had many Twitter users champing at the bit to set him right.<\/p>\n<p>Bitcoin bull Anthony \u2018Pomp\u2019 Pompliano was one of the first to respond, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1329145750324916229\">calling<\/a> Felder\u2019s words \u201creally inaccurate\u201d and offering to educate the former hedge fund manager over a phone call. Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation, followed suit, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/gladstein\/status\/1329141771398389760\">stating<\/a> Felder was \u201ctoo lazy to do the research\u201d and out of his depth. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It has been hacked. Wrong.<br \/>Forks multiply it&#8217;s supply many times.  Wrong.<br \/>It is not a store of value.  Wrong.<br \/>It could be supplanted by a better crypto.  Wrong.  Google Metcalfe&#8217;s law. <br \/>Doesn&#8217;t provide safety of principal.  Wrong.<br \/>Doesn&#8217;t provide an adequate return. Wrong.<\/p>\n<p>\u2014 Lawrence Lepard (@LawrenceLepard) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/LawrenceLepard\/status\/1329137202148872198?ref_src=twsrc%5Etfw\">November 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Part of Felder\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent confusion may be due to him stating he relied on an \u201cold school definition\u201d of investments, however the fact is that hard forks do not affect the total Bitcoin supply of 21 million coins. While hackers are able to steal coins from time to time, these crimes are usually limited to exchanges and custodians, phishing attempts, and misplaced private keys \u2014 not the Bitcoin network itself.<\/p>\n<p>&#8220;Better to have no opinion than a poorly reasoned one,&#8221; <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/anilsaidso\/status\/1329170051841232896\">said<\/a> Twitter user\u00a0anilsaidso.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/everything-the-felder-report-got-wrong-about-bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Everything The Felder Report got wrong about Bitcoin &#8221; Bitcoiners are crying foul at former billion-dollar hedge fund manager Jesse Felder&#8217;s &#8220;inaccurate&#8221; hot take blog post about Bitcoin today in which he claims the crypto asset \u201cdoesn\u2019t make sense as an investment nor as a currency alternative.\u201d Bitcoiners seemed taken aback by the number&#8230;<\/p>\n","protected":false},"author":1,"featured_media":115211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/7f5e7b96-df65-4114-81d5-46e28e747e20.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74899,74863,117,10574,10401],"class_list":["post-115210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-adoption","tag-cryptocurrencies","tag-business","tag-education","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=115210"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/115211"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=115210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=115210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=115210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}