Good idea.... It's the least shittiest of all fiat. When you have over 100% inflation, 5-10% is an improvement.
Thread for people who don't entirely understand Bitcoin
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Are you telling me that Bitcoin hasn't changed anything? Why is Elizabeth Warren trying so hard to kill? If it wasn't a threat, she wouldn't care.
Exactly. But really that’s what I’ve heard. The new president may be open to BTC but all I’ve heard repeated is that his party wants to switch to the US dollar because their central bank is completely corrupt. Our central bank is just completely clueless.
I am telling you it hasn't lived up to its promise. 90% of the original claims turned out to be lies. Not to mention the constant goal post moving.
We already had a country "adopting" it and that turned out to be a big failure. By the way have you heard of that 5 million bucks transfer that had a 3 MM transfer fee? Future of money, I say...
Warren, with good reason, views crypto as a scam in which elite tech bros, billionaires, and Wall Street financiers print bags of dog shit out of thin air and persuade gullible average-Joe simps to buy said dog shit with their hard earned hourly-wage USD cash. This view is basically accurate; after all, excitement over ETFs is fundamentally about early adopters and insiders finally having the chance to dump their holdings on the public in a big way, explicitly assisted by Wall Street.
Crypto's side uses for money laundering and terrorist financing don't help, but are sort of icing on the cake.
How is it a big failure in El Salvador?
Yes, sometimes a transaction is fucked up, but not because of the network but because of the user. In this most recent case, what I read was that the user was using their own code likely, not an established wallet, and when they split 160 BTC into 2, they didn't have a proper chage address, so instead, the 2nd half went to the miner a fee vs. back to the user.
Listen, I had my doubts too for many years. The fact that after each crash, it recovers, and goes higher, and the fact that isn't hasn't been hacked or taken down, is a huge testament. Now, the amount of computing power doing all the hashing is insane. This is no longer a pet project. Every single day, someone new discovers why Bitcoin is superior because every day, the governments show us how incompetent and corrupt they are.
So first, you're right, because most of crypto is a scam. So lets just focus on Bitcoin.
And second, Warren is just as much of a corrupt individual like all the wall street types or billionaires. Everyone who profits from the current system doesn't want the system to change. But given the wealth inequality now, and middle class decimated, its fairly clear the system isn't working. It never was for the bottom people, but at least this was masked by the middle class having hope and prosperity. Even if you're affluent, the crime is gonna get you, and the loss of freedom will get you.
I’ve listened to people who have went to El Salvador to see if it’s actually being adopted. They say the people are pissed about it.
1. Just because something happened X times it is not guaranteed it would happen X+1 times. But again, using the same illogic I could argue that it will drop 70% again, because it already did X times.
2. Litecoin actually has more uptime than Bitcoin. Also let's wait until Tether collapses and see how that effects the price and the network.
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