This is gonna be fun... When you buy one of his books on his site, you can get a "custom inscription" which it sounds like Jim personally hand-writes on the book. So I'll be buying one with a personal inscription regarding bitcoin that'll be utterly painful for Jim to write.
I'm taking suggestions. It can be up to 150 words.
Rickards has a fairly rational position on Bitcoin.
...
I disagree:
https://www.youtube.com/watch?v=fpYlc5oftM0https://twitter.com/JamesGRickards/status/533057485264134144^ He's overly negative and seems to be deliberately on the attack.
In fact, I wouldn't be all that surprised if his acceptance of bitcoin in his store was in the hopes that he would NOT see very many bitcoin sales just so that he could rant about measly volume after the holidays.
I think you just proved my point. (absenting your inferring the invidious motives, for which you have no evidence yet)
I'd maintain that this is a fairly rational position.
His criticisms in this piece are essentially:
1) We haven't seen it during an economic downturn.
2) Government's are causing problems for it.
Both are irrefutably true.
We don't see these as insurmountable barriers, however most people do.
The market has bitcoin currently priced at about a 1% chance of success or less at its current valuations.
We are betting on the long-shot to win, and while I think we are in the right, it is rational to bet against us.
More importantly, if we do not recognize the valid criticisms against our position, we are both (a) insane and (b) unable to adequately overcome them.
As for Rickards, if we make it through the coming down cycles and can navigate the government's attacks, he will have no criticisms remaining and we should expect he would adopt. Of course that could put him well outside the "early adopter" realm. Anyone who owns bitcoin now (or within the next year) would be an early adopter.
In common technology parlance, the early adopters are the first 2.5% of the users. We are at less than 1% of potential users today, there is a long way to go.
Check out this:
https://coinreport.net/james-rickards-takes-bitcoin/His position is highly nuanced.
