If you're going to argue for more digital currency usage, Bitcoin is probably the shittiest pick nowadays.
• The base layer can barely keep up with Bitcoin's hot days now, how can it possibly be used for hundreds of millions or billions of people daily?
• Layer 2 protocols like Lightning "solve" this with patented and royaltied techs, antithetical to Bitcoin's original vision, while the companies responsible squash scaling of L1 tech.
• The centralisation of miners and the increasing adherance to US sanctions means that the permissionless nature of Bitcoin diminishes everyday.
• The open nature of the blockchain means that govt surveillance of your daily transactions is as easy as ever, with no more hidden or cash transactions.
I'm not entirely opposed to the use of crypto as the everyday currency, but Bitcoin is trash for that use.
You are correct in your critiques but have been sold a central banker lie about it being the shittiest pick.
Bitcoin is the first real competitor to fiat. Accordingly, as always when you’re over the target, the attacks and subversion is thick and heavy.
Yes it has its faults. And there’s probably a coordinated attempt by many entities to restrain or control it. But despite all these imperfections it still stands. It’s perfectly imperfect.
But the fact that it has weathered all that and is still yet to fall is, to me, merely a sign that this is a David vs Goliath battle and the solution isn’t to surrender our slingshot
If you're going to argue for more digital currency usage, Bitcoin is probably the shittiest pick nowadays.
• The base layer can barely keep up with Bitcoin's hot days now, how can it possibly be used for hundreds of millions or billions of people daily?
• Layer 2 protocols like Lightning "solve" this with patented and royaltied techs, antithetical to Bitcoin's original vision, while the companies responsible squash scaling of L1 tech.
• The centralisation of miners and the increasing adherance to US sanctions means that the permissionless nature of Bitcoin diminishes everyday.
• The open nature of the blockchain means that govt surveillance of your daily transactions is as easy as ever, with no more hidden or cash transactions.
I'm not entirely opposed to the use of crypto as the everyday currency, but Bitcoin is trash for that use.
You are correct in your critiques but have been sold a central banker lie about it being the shittiest pick.
Bitcoin is the first real competitor to fiat. Accordingly, as always when you’re over the target, the attacks and subversion is thick and heavy.
Yes it has its faults. And there’s probably a coordinated attempt by many entities to restrain or control it. But despite all these imperfections it still stands. It’s perfectly imperfect.
But the fact that it has weathered all that and is still yet to fall is, to me, merely a sign that this is a David vs Goliath battle and the solution isn’t to surrender our slingshot