3. LOCATION CAN NEVER BE A BARRIER:
Because I could remember far back when sending money to family and friends across borders was seen as something impossible or expensive, through the use of middlemen who charges high, but bitcoin came and saved us the stress and time breaking the barrier of location.
4. THE REJECTED CAN BE SOMEDAY VALUED:
Because I am sure far back in 2010, there must have been people who knew about Bitcoin mining but because they never saw the immediate value in it back then, neglected it and today are regretting it. So it's always good to value every little opportunity that comes your way because nobody knows tomorrow.
5. SUCCESS TAKES TIME:
Because success always comes to those who are diligent and consistent in whatever they do, because we all know that BTC started with a value from $0.0000001 to $0.1 and $1 and now $45,000 gradually within a period of 13years, Which means that to succeed in life it takes time and consistency.
There can be situations when location is a barrier that can't be bypassed. Like, for example, you live in a country that is heavily sanctioned, and lots of opportunities are closed to you, no matter how hard you try. This is a dangerous "lesson", because it can lead you to investing in very questionable assets, just because you think that they may repeat the growth of Bitcoin. This is exactly what scammers are hoping you to think. As for time, time alone doesn't guarantee that an asset will grow. It can also lose value with time, like it often happens with altcoins on a scale of 3-7 years. |
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Because it's very easy to spawn large amounts of fake nodes, and there's no way to tell if a node is actually unique, or a part of a large cluster of fake nodes. And there's no good mechanism for rewarding uptime or storage in a decentralized way. Bitcoin mining is based on a proof-of-work, which was created before Bitcoin itself and has other practical application, but so far no one invented "proof-of-node", e.g. "proof-of-storing-and serving-blockchain".
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I'm curious, for how long can Microstrategy sustain their unrealized losses? They need to make some payments, and if they have converted all their balance into Bitcoin, they need to sell Bitcoin to do that, at a loss, currently. If things go south for them, it can become a huge cautionary tale about using Bitcoin as reserve currency at a large scale.
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It's hard to understand what exactly are you asking. Are you suggesting that religion was responsible for spread of physical coins, and now it can help adopt Bitcoin? That's nonsense, because first, religion wasn't a major factor behind adoption of coins, and coins were independently invented and used by many civilizations across the world and ages. And there's no way that religion will play any role in Bitcoin's adoption, because religion lost its influence in society a long time ago, and religious organizations don't care about financial and economic policy.
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Yes. Bitcoin, just like any other useful innovation, uses energy. But, why now, Wikipedia?
Bitcoin energy use had grown in recent years, and it attracted attention of climate change activists. This environmental discussion simple doesn't make any sense
Bitcoin’s energy use is just a rounding error compared to other industries
In global context, energy consumption of Bitcoin is a very low priority, so climate activists shouldn't spend disproportionately high amount of time on it, but this doesn't cancel the fact that Bitcoin energy consumption is high compared to its utility - our civilization won't notice if Bitcoin disappeared tomorrow, and even Bitcoiners would continue living their lives as normal. |
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Bitcoin in general is in bear market, and right now there's more negative news than the positive - economic uncertainty in the world, anti-PoW sentiment in high circles, no ETF, lack of significant progress in adoption. For now the price decline is well within the norm, there's no reasons to get worried. You could start worrying if Bitcoin would drop below $30k, which was a major support level.
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A second transaction spending the UTXO of a previously broadcasted and unconfirmed transaction can be confirmed even without RBF if certain time has passed and nodes started purging the first transaction from their mempools. It can happen on practice if you make a transaction with very low fee, and the fees remain consistently high so the transaction is not getting confirmed for many days.
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Which kind of users? I can imagine a total of billion people holding Bitcoin and trading alts, but everyday use sounds unlikely. Technological limitations, volatility, legal problems need to be solved, and it's unclear when or if all of them will be solved. Plus people need a reason to adopt cryptocurrency for payments, and "control over your money" is actually not a good reason for most people. People generally don't switch to a new thing if the old thing works just fine.
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It's true that the US won't allow Bitcoin to become a mainstream currency, and it's true that this fact severely limits how valuable Bitcoin can become, but no country in the world is able to stop ALL people from using Bitcoin, so there will always be some users and some demand. He also completely ignores the store of value use case, so with his logic gold should cost much less, because only a small share of gold is used in industry.
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Money, experience and time appear to be the largest obstacles to solve for the world to fully embrace independent & organic food production.
Where would people who live in cities grow their food in such manner? And don't say "on rooftops". This whole separation of labor thing allowed humanity to achieve everything that we have now, and everyone growing their own food would just result in us living in stone age again. Also, in the last years of the Soviet Union a lot of its people did grow their food on dachas - people didn't do it because it's a fun activity, but because the economic situation pressured them to do so. I don't think that any country in the West is dire enough to massively shift to such system. |
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Your average crypto investor doesn't understand the technology, they easily eat all the marketing prepared by altcoin advertisers and truly believe that they are investing in a "good project". I wouldn't be so sure that in a few years everyone will view crypto as a failure. If some magic crystals or homeopathy can remain lucrative for decades, why altcoins can't? As long as manipulators will orchestrate pump and dumps, there will be people who think that they can profit from big price movements.
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All such problems can be solved by using cold storage, which everyone should do either with a hardware wallet or an airgapped PC. Smartphones or online computers should only hold small amounts that could be afforded to get lost.
As for this particular problem, you can import master private key via QR code in certain wallets like Electrum, that shouldn't leave any trace on your smartphone.
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How can altcoins have any long-term potential if they are just a promise of a product that will never be delivered? The formula for altcoins always stays the same - claim revolutionary innovation, investors jump in, a few years pass, nothing is achieved, project quietly dies, bagholders end up with losses, the team moves onto their next project.
Meanwhile Bitcoin was a complete product since t he first day of its release, and it basically only has to wait for people to start using it.
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This should be a reminder to anyone who wants to make their own brainwallet. There are people out there who have servers for monitoring huge numbers of potential brainwallets, and the moment such address receives coins, they get instantly swept by a bot. Don't think that the passphrase that you came up with is highly complex and unique, it's possible that someone's algorithm will come up with this phrase when they will build their list of potential brainwallets.
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It's going to bring some stability to Ukraine's national currency, and this stability is very needed during war, especially the hot phase of war. Nearly every country in the world would take such measures if they were getting invaded and their economy was getting severely damaged.
But this artificial support for hryvnia only means that inflation will be high, and there will be a huge difference between black market and official exchange rate. At some point Ukraine will have to return to free market for their currency market, and it could come with a shock of sudden price drop.
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Why is Bitcoin compared to stocks? Bitcoin is a currency, not a stock. Do a comparison against currencies, and you will see just how volatile it is.
And this short-term volatility is a huge problem for practical uses of Bitcoin. Merchants would have to constantly update prices in Bitcoin, they would have risks of sustaining losses due to volatility - receiving BTC while its high and then having to spend it while it's low. And this doesn't affect only merchants, it affects anyone who receives Bitcoin, including workers who get salaries or governments that collect taxes. And the usual argument to "just HODL" doesn't work here, because there's a lot of situations when payments must happen here and now.
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Well, big exchanges like Binance or Coinbase already cooperate with governments all around the world, so in some way they are registers of crypto holders, because they have KYC. I'm not sure how feasible it is to create a global register, governments would be wary of unlimited sharing of data about their citizens with each other, as that could cause trouble for them. Also using foreign banks to avoid taxes is not exclusive to crypto, so existing regulations should take care of it.
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Only people who have panic sold have lost money. Perhaps many investors had to suffer an unrealized loss if they bought during a bull run and then held through a bear market, and it could be very stressful for retail investors, but if they waited 2+ years, they already got unrealized profit.
If you want to highlight how Bitcoin could have been negative for someone, consider that there have been hacks and scams in Bitcoin ecosystem, so some people lost their hard-earned coins if they fell victim of such things.
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Not using punctuation
One of the most annoying offenses to me personally, is when someone posts a huge chunk of text without breaking it into paragraphs. I usually just skip such posts, because they tire my eyes, and pretty much all decent posters know how to break up their posts to have basic readability.
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Is no one here realizing that stablecoins are fiat money? They are literally national currency put on blockchain. Regardless if they are pegged to a national currency by a company or algorithmically, their value reflects the value of that currency.
The main narrative behind Bitcoin is that it has fixed supply, so it's better than fiat. With stablecoins, not only they are backed by a currency that gets inflated, the coins themselves might be inflated, which creates extra risk.
If you are hating fiat money, why would you look at stablecoins?
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