I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.
Criminals use it because it allows some degree of privacy. Where we went wrong in this world was targeting privacy instead of crime, that's where a lot of our freedom went. The key point, though, is that Bitcoin (and most other crypto) are fixed supply. They get harder to mine, and there will never be more of them. Bitcoin is capped at, I think, 21 million - if people decide it has value by being outside the Fed, those who own even a single Bitcoin will be the rare few.
Drug dealers all over the world collect usd.. you think el chapo is stacking up bitcoin or 100s? Jus saying it doesn’t mean anything because a bad actor used it..
I’ve read about the mining part before trying to understand it better but it doesn’t make a whole lot of sense to me. I can accept that part without understanding it fully. The problem with it for me is when you have too many criminals doing nefarious things involving Crypto, it kills its legitimacy for average investors in my opinion. It just looks like a Ponzi scheme to most people like FTX turned out to be.
Criminals use it because it allows some degree of privacy. Where we went wrong in this world was targeting privacy instead of crime, that's where a lot of our freedom went. The key point, though, is that Bitcoin (and most other crypto) are fixed supply. They get harder to mine, and there will never be more of them. Bitcoin is capped at, I think, 21 million - if people decide it has value by being outside the Fed, those who own even a single Bitcoin will be the rare few.
But look at all the criminals using USD
Drug dealers all over the world collect usd.. you think el chapo is stacking up bitcoin or 100s? Jus saying it doesn’t mean anything because a bad actor used it..