On May 19, 2021 at 14:49, Brad Humphrey said...
So.... how's that Bitcoin looking now.
I'll be glad when all this cyrptocurrency BS finally dies off.
But I bet it will take several more years. After which there will be some other new fad for people to waste their time & money on.
Its doing fine. Bitcoin price in USD terms does this all the time.
Unlike most of the other "Crypto Currencies" Bitcoin is a trustless decentralized monetary system. There is no Government or Corporation in control of the monetary policy. Satoshi himself cannot change Bitcoin any more than you or I can.
There is proposed upgrade currently taking place called Taproot. If it does not reach consensus it will fail. In the past there was a proposal that was advantageous to the miners but the nodes ie people signaled NO. Unlike most other crypto Bitcoin nodes can run on a Raspberry PI.
People in countries like El Salvador, Nigeria etc are able to transact with other people globally. Many of these people have to take an entire day walk to get to a bank.
Governments have relentlessly debased their currencies value by printing money out of thin air. USD which El Salvador is on gets debased buy no fault of their own, and they do not get stimulus checks. They simply get fisted.
If you have some environmental issue, Bitcoin does not require you to dig holes in the earth, does not require a Military, does not require banks. Many studies have concluded Bitcoin incentivizes cheap energy sources which is increasingly becoming renewables ala wind, solar, nuclear, nat gas, and hydro. It is already about 70-75% mined via renewables.
You seem to have a uninformed illogical view towards Bitcoin. If you do not wish to use it then dont. But there is not a relevant argument against Bitcoin that I have yet found. Its one of the most beautiful machines ever made.
Last edited by oprahthehutt. on May 19, 2021 23:31.