Short reminder that Bitcoin was created as a reaction on the world finance crisis and to allow people like Assange to receive donations, because PayPal and similar just blocked them…
That does not mean that Botcoin is perfect, but: If the alternative system was perfect, there was not bitcoin.
I don’t mind a system like bitcoin existing but bitcoin itself has way too many problems to be useful and actually is detrimental to the environment. It takes way too long to process a transaction, it is massively energy intensive for what it is, and it’s been hyped up like the Californian gold Rush.
Sure it was created to solve a problem but it doesn’t actually solve that problem very effectively. It also introduces an infinite number of new problems that no other currency system has ever experienced.
Bitcoin is terrible for that though. High transaction fees, slow transaction speeds, everyone can see your balances and transactions (and with KYC requirements it’s very easy to link a wallet and a coin to a person).
Monero is great. Except for the fact that when the dev team dislikes what miners are doing, they introduce a new arbitrary rule, and everyone just goes with it. Having a process to introduce such changes unilaterally is a bug that needs to be fixed first.
Also, there’s a lightning network which allows you to transact bitcoin fast and cheap. Although the privacy aspect is still not solved there.
I think, whether it’s helpful is an individual decision. E.g. for people in Turkey, it’s a lot more stable than their own currency. Same logic for probably dozens of other countries…
Maybe, it’s not useful for you, but that’s OK. No one is trying to replace your currency with it and force you to use it.
Short reminder that Bitcoin was created as a reaction on the world finance crisis and to allow people like Assange to receive donations, because PayPal and similar just blocked them…
That does not mean that Botcoin is perfect, but: If the alternative system was perfect, there was not bitcoin.
Now, do we need an emoji? I don’t care TBH…
I don’t mind a system like bitcoin existing but bitcoin itself has way too many problems to be useful and actually is detrimental to the environment. It takes way too long to process a transaction, it is massively energy intensive for what it is, and it’s been hyped up like the Californian gold Rush.
Sure it was created to solve a problem but it doesn’t actually solve that problem very effectively. It also introduces an infinite number of new problems that no other currency system has ever experienced.
Infinite problems, eh? Can you name like 10?
Bitcoin is terrible for that though. High transaction fees, slow transaction speeds, everyone can see your balances and transactions (and with KYC requirements it’s very easy to link a wallet and a coin to a person).
Monero is the only digital currency worth having.
Monero is great. Except for the fact that when the dev team dislikes what miners are doing, they introduce a new arbitrary rule, and everyone just goes with it. Having a process to introduce such changes unilaterally is a bug that needs to be fixed first.
Also, there’s a lightning network which allows you to transact bitcoin fast and cheap. Although the privacy aspect is still not solved there.
No! Bitcoin is a scam created by scammers! Don’t look at state currencies!!! \s
This is like saying “laws aren’t always enforced equally, so we should have no laws whatsoever”. Bitcoin is not a helpful response.
I think, whether it’s helpful is an individual decision. E.g. for people in Turkey, it’s a lot more stable than their own currency. Same logic for probably dozens of other countries…
Maybe, it’s not useful for you, but that’s OK. No one is trying to replace your currency with it and force you to use it.
Bitcoin’s “value” in USD terms has dropped ~20% in the last few days, so I’m not sure we can call it ‘stable’
In 1998 the USD fell like 20% vs the yen, currencies don’t always stay the same value vs. other currencies