People like to say that bitcoiners are speculators, gamblers etc. But what is not owning Bitcoin?
It’s betting that fiat money, a system devised by bankers and politicians for their own benefit, it the superior form of money, and that it will win on a free market of currencies.
I’m sure somebody will reply hurr durr, I don’t own fiat, I own stocks, property, things that yield returns, yadda yadda. Well guess what, then you already don’t trust fiat money.
Did they figure out the size issue yet? Since last time I’ve looked it wasn’t really that decentralized due to not being able to get the whole chain on each PC
It’s 2023. Lol. You don’t have 600G? And obviously never heard of pruning mode if you want to run a full node.
No I don’t have 600G to spare. No need to start insulting me. And no idea what’s pruning mode. Did they fix the algo to be based on something more regular, or specialized hardware still required making it not so decentralized as advertised?
If you don’t even know the basics about it, why do you try to criticize bitcoin? You don’t need the 600G. And “specialized” hardware that’s available worldwide is centralized, huh? Are Android phones centralized?
I ask questions about inherit problems bitcoin had (likely still has). Maybe some breakthrough happened. So far I’m hearing personal attacks from you.
All I can imply now is that you’re invested in this fool’s gold and trying to find other people to sink with you.
Attack? What was the attack? Asking questions about your hardware? Stating facts about your knowledge that you don’t deny? You seem to offer no argument of value.
I had to look it up. It’s still practically useless to mine on anything other than ASIC. ASIC isn’t something an average Joe will buy, unless he explicitly wants to mine on the network. The crypto is not by the people for the people it seems… Just corpo for people just like the bank.
Another serious problem is deflation actually. The currency doesn’t lose value, therefore it’s not useful to “spend”. It’s more or less the primary use for it.
Another issue is not being able to force take away from a vallet. If there is a criminal who scams people away, he is impossoble to punish for his actions, since memory based cold vallets are possible.
And for the finale… Global warming. The bloody proof of work thing still exists it seems. All the devices heavily use energy for this crypto. Democratic central currency often does look like a better alternative to tackle that.
I really hope for a better currency, but bitcoin just doesn’t still seem to make it. Lightning and pruning is cool.
Come on, you admit you don’t even know the basics about bitcoin… then why rant against it?
You don’t need an ASIC to use bitcoin
So you’re saying any money before the fiat system had no use. Ok…
What about criminals who want to vote for politicians who are not scammy? Ah, it must be good to be you where this isn’t a problem.
Right. Bitcoin which uses like 0.2% of the energy and encourages saving is to blame for global warming. Not the fiat system which encourages perpetual spending and production and growth.
Never said you need ASIC, just said that bitcoin is not democratic, because the average Joe does not participate in mining.
Before today’s currency mercentalism reigned supreme. Accumulation of wealth was seen as the primary objective. For an average person it was very limited on what he could get. Most of items and products had to be produced locally. Currency today actually encourages trading. (Whether that’s good or bad is up for debate remarking on your last point)
There are many countries, where bitcoin use maybe could be used as an alternative to “dollarization”. Yet the only time I actually saw it happening was during the Ukraine invasion, when Russians traded roubles to bitcoin after leaving the country, since their currency more or less collapsed in the international market.
It uses 0.2% of energy and still does not facilitate daily trade. While the whole banking sector (ATMs, banks, cyrrency production, datacenters) use around 0.4% of global energy.
Take VISA for example, it does around 24k transactions per second, while bitcoin does around 100. That’s 240 times more. By this it looks that you would need half the worlds energy production just to come closer to daily use as a currency.