Bitcoin is a scam for crazy people.

Kevin Drum, writing about the response to a few of his posts critical of the Bitcoin fad:

It used to be libertarians. I’d mention something unflattering about Ron Paul and the result would be hundreds of angry, illiterate insults from true believers who were convinced that Ron Paul was just short of the second coming of Christ.

Now it’s crypto crackpots—unsurprisingly, I guess, since there’s a huge overlap in the crypto fan base and the Ron Paul fan base. After writing a couple of posts about Bitcoin over the weekend, my Twitter feed is bursting with—you guessed it: angry, illiterate insults from true believers are convinced that Bitcoin is the only thing that stands between us and monetary Armageddon. It would be amusing if it weren’t for the fact that so many of these people are obviously not well off and are being taken for a ride by con men who care only about their bank accounts—and by that, I mean their real bank accounts, not their crypto wallets.

Sounds about right.

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