Bitcoin wasn’t down. Hasn’t had a single hour of downtime or hack since it started 15 years ago in 2008. No bank holidays. Clear and transparent supply, 100% open source code. Not run by any single government, corporate board, or CEO. Sends money across the globe in under a second for pennies in fees, all you need is a phone. Powerful stuff.
There is so much wrong with that firehose of nonsense you just said I don’t have time to correct it all. So I’ll focus on this one point:
Bitcoin may not be run by “a single government” but it is run by a small group of billionaires. You’re a fool if you believe widespread adoption of it can improve things for regular people.
I see this comment every now and then, and it always forgets the cost of the transaction, confirmation time, and of course, the need for miners to exist to process these confirmations/transactions. The energy cost is extraordinary, and the end user is taxed for the use of their own dollars.
It’s not really feasible on a broad scale. Bitcoin is a holding stock, not a valid currency. Its value only increases because it manufactures its own scarcity. And as its scarcity increases, it naturally moves toward centralization since mining becomes too large an activity for the individual to reap any benefit. You can argue for proof of stake to eliminate the need for mining, but then you open the doors to centralization more immediately.
Oh yes, it is also feels so good that the richer have priority on transactions because they can pay exorbitant fees while you sometimes need to wait more than a month for a transaction to be confirmed.
I had to make a transaction to a private tracker and I don’t want to go through it never again.
As long as you ignore its problems it’s great. I’m sure you do.
Meanwhile the rest of us who don’t live in cloud removedoo land have to deal with your shitty system that takes 45 minutes to process a transaction and requires the burning down of several rainforests per transaction. So we can see it is probably not a good idea.
LOL you either kidding yourself or had never transfer Bitcoin.
At a high demand time, it could take hours to complete a transaction (if it even went through at all) and with an outrageous fee up to dozens of dollars.
Bitcoin has never been known for time efficient nor competitive fees (except for maybe in the beginning when nobody uses it).
Bitcoin wasn’t down. Hasn’t had a single hour of downtime or hack since it started 15 years ago in 2008. No bank holidays. Clear and transparent supply, 100% open source code. Not run by any single government, corporate board, or CEO. Sends money across the globe in under a second for pennies in fees, all you need is a phone. Powerful stuff.
There is so much wrong with that firehose of nonsense you just said I don’t have time to correct it all. So I’ll focus on this one point:
Bitcoin may not be run by “a single government” but it is run by a small group of billionaires. You’re a fool if you believe widespread adoption of it can improve things for regular people.
I see this comment every now and then, and it always forgets the cost of the transaction, confirmation time, and of course, the need for miners to exist to process these confirmations/transactions. The energy cost is extraordinary, and the end user is taxed for the use of their own dollars.
It’s not really feasible on a broad scale. Bitcoin is a holding stock, not a valid currency. Its value only increases because it manufactures its own scarcity. And as its scarcity increases, it naturally moves toward centralization since mining becomes too large an activity for the individual to reap any benefit. You can argue for proof of stake to eliminate the need for mining, but then you open the doors to centralization more immediately.
Oh yes, it is also feels so good that the richer have priority on transactions because they can pay exorbitant fees while you sometimes need to wait more than a month for a transaction to be confirmed.
I had to make a transaction to a private tracker and I don’t want to go through it never again.
As long as you ignore its problems it’s great. I’m sure you do.
Meanwhile the rest of us who don’t live in cloud removedoo land have to deal with your shitty system that takes 45 minutes to process a transaction and requires the burning down of several rainforests per transaction. So we can see it is probably not a good idea.
“under a second for pennies in fees”
LOL you either kidding yourself or had never transfer Bitcoin.
At a high demand time, it could take hours to complete a transaction (if it even went through at all) and with an outrageous fee up to dozens of dollars.
Bitcoin has never been known for time efficient nor competitive fees (except for maybe in the beginning when nobody uses it).