I'm only in for a pocket change worth of crypto...
Call me old fashioned BUT...
Here's what I've learned:
There are only 2 things worth anything on this planet.
Skilled labor
Things that come out of the ground (food, oil, minerals, metals, aggregate etc)
All else is bullshit.
Crypto, afaik - isn't backed by anything other than some bs about token scarcity. That's not worth any more than the local arcade token scarcity.
Every time I've probed to find out actual worth of crypto - I only encountered a long stream of mental gymnastics in order to understand how it's worth anything whatsoever.
In addition to this, the technology Bitcoin uses is already way past obsolete...it HAS to be slowed down in order for the system to work. There are other technologies out there right now, way better and faster AND there's no danger of running out of tokens because that's Bitcoin's inevitable future.
So ...if the power goes out...or the net goes down, you're not doing squat with digital currency...
If you can't hold it in your hand, you don't own it.
BTC got overran by banking board members and was never allowed to expand the way Sitoshi had planned. So now there is a huge bottleneck on transactions per second. Like HUGE bottleneck. BTC is more like gold now in that it’s only good as a long term storage of wealth. The new “bitcoin cash” is modeled after the original intent of BTC and can do 1000’s of transactions per second but people are ignorant of all of this in large part because of censorship of the facts.
Btw, I’m not trying to promote BTC. I’m just revealing information that’s not widely known or talked about. I’m a metals guy. I don’t own any crypto. I was thinking about getting some but this stopped me. If I was going to invest in crypto I would go BTC only for long term holding and use Bitcoin Cash (BCH I think) for commerce.
You need the crypto to run out of tokens or there is no scarcity.
It seems like once the tokens are freed and in the market, mining will switch to adding compute power to the blockchain ledger. So I guess you get some fees for that or it the system would break down.
I'm only in for a pocket change worth of crypto...
Call me old fashioned BUT...
Here's what I've learned:
There are only 2 things worth anything on this planet.
All else is bullshit.
Crypto, afaik - isn't backed by anything other than some bs about token scarcity. That's not worth any more than the local arcade token scarcity.
Every time I've probed to find out actual worth of crypto - I only encountered a long stream of mental gymnastics in order to understand how it's worth anything whatsoever.
Dan Peña has some interesting insights about Bitcoin
In addition to this, the technology Bitcoin uses is already way past obsolete...it HAS to be slowed down in order for the system to work. There are other technologies out there right now, way better and faster AND there's no danger of running out of tokens because that's Bitcoin's inevitable future.
So ...if the power goes out...or the net goes down, you're not doing squat with digital currency...
If you can't hold it in your hand, you don't own it.
BTC got overran by banking board members and was never allowed to expand the way Sitoshi had planned. So now there is a huge bottleneck on transactions per second. Like HUGE bottleneck. BTC is more like gold now in that it’s only good as a long term storage of wealth. The new “bitcoin cash” is modeled after the original intent of BTC and can do 1000’s of transactions per second but people are ignorant of all of this in large part because of censorship of the facts.
The whole Sitoshi story is total poppycock...
I believe Pena more than that bs...
9mins
https://youtu.be/UYHFrf5ci_g?si=yX1LZ2H3txvbcTuq How the banks bought BTC
Btw, I’m not trying to promote BTC. I’m just revealing information that’s not widely known or talked about. I’m a metals guy. I don’t own any crypto. I was thinking about getting some but this stopped me. If I was going to invest in crypto I would go BTC only for long term holding and use Bitcoin Cash (BCH I think) for commerce.
Edit: https://txstreet.com/v/btc-bch BTC/BCH transaction Comparison tool
https://www.youtube.com/watch?v=eafzIW52Rgc Who Killed BTC
Well put
You need the crypto to run out of tokens or there is no scarcity.
It seems like once the tokens are freed and in the market, mining will switch to adding compute power to the blockchain ledger. So I guess you get some fees for that or it the system would break down.
Disclaimer: I am not a cryptobro