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I am just wondering if there is no specific law on the federal and state level that demands where the proceeds of scams and frauds can be going to...am just hoping the money can be spend for the benefits of the people and not eventually on the pockets of the few in the halls of power. Now, for sure, this story is a big reminder that at the end it will be the government that can be the declared winner against people who are committing crime financial or otherwise.
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I would not say that the price is more important than the reasons why Bitcoin is existing but since this is a P2P payment system and is openly traded in the marketplace we could never get away from the price...otherwise it would mean to have no financial value at all. Now, it would be safe to say that its purpose and its price are two important things for Bitcoin. This is like buying a shampoo...we are looking for its utility and of course we also look at the price.
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Tourism is a huge industry that can benefit a lot with mainstream implementation and acceptance of Bitcoin. And since tourist attractions are hub of people from all over the world, the kind of impact is really there. I am happy to see that Boracay which is now a world-class tourist offering of the Philippines is now on the Bitcoin map. In the coming years, am sure that more and more popular locations will be adopting Bitcoin as it is one of the best way to be bringing the money without doing it physically. Welcome to Boracay and enjoy the place with our Bitcoin in there...
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Bitcoin can be one of the proven way to avoid censorship coming from those in authority but I must say that this is limited to wealth protection and may not be protecting people's right to free speech as the world is moving towards authoritarianism in many locations. Free speech is something that is surely slowly being eaten and in may times legally by imposing restrictions on many things and by redefining many things to suit what those in power can be planning. We are all hoping that Bitcoin can be playing a role in protecting what the people should be enjoying, in the first place.
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Yes, I think I am gonna agree with you that certainly entertainment and sports re two big industries that can help a lot in pushing for the Bitcoin narrative. And in fact, for the past many years, there had been many known personalities working in the two industries who have become big allies and some of them even promoting Bitcoin but due to the crypto winter we seldom hear from showbiz people and players who are talking on Bitcoin...maybe they are just waiting for the bull run to get back on the scene. For sure, star power can be of big importance so as to reach as many people as possible and deliver the Bitcoin message to everyone.
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This important date is one of some unforgettable history landmarks for Bitcoin and I am happy to see the BTC community always remembering things as they did played significant milestone with the King of Cryptos. I am sure that back in the day, Satoshi Nakamoto never thought that 14 years after the WhitePaper got published, what he started as just a small fire can be creating an avalanche of support and for BTC to be recognized as an important asset that is now freely traded. What Satoshi simply dreamed of is now an unstoppable movement that nobody can stop and kill. Long love all Bitcoin lovers, supporters and enthusiasts.
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I don't think it is a good idea for Bitcoin to be moving to PoW mechanism...at least for now! Time will eventually tell which is the better option: PoS or PoW. We already know that in terms of security and decentralization, it is PoW that is the most reliable and this one of the many things that define Bitcoin so taking that away and you are left with just skeletons. Now, the biggest concern with PoW is, of course, the huge amount of power that it is using in the mining and confirmation process and zeroing on this aspect alone there is a growing movement to stop Bitcoin from further growing...as if doing so will stop climate change altogether. On my side, there are far more industries even unnecessary ones that are eating out a lot of power but they are allowed to be doing business so why make a big exception on Bitcoin?
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Time is certainly flying so fast and before we know it we can be celebrating the 15th year of Bitcoin's Whitepaper and then BTC can be experiencing another round of deserved ATH. Though all of us can be imagining the possibility of going back to 2021 when BTC reached the $61K level, if you look at the record for this year at $20K seems to me that 2022 is actually not really doing bad as it is the next one in terms of record prices for Bitcoin.
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Maybe it would have a significant effect if around half of Bitcoin can be lost forever but for now we could not quantify the real effects, if any. Now, having said that, I think the effect is so much on the Bitcoin holder that lost the key or in other ways. Of course, we know some famous stories along this line and personally they are really so sad...to see fortunes gone to waste. I am sure this can never happen to me since I do not have any big amount of assets stored in Bitcoin. This is one of some risks in dealing with cryptocurrency and that is why there is really that need to always educate and remind people to be extra-careful with their keys and in doing the very transactions...we need to triple check everything!
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According to that article cited above, the $100 worth of Bitcoin gathered around 13,000% ROI so far meaning that if one just hold the said coin then the holder has now $13,000 in his/her account. In case, some recipient's just forgot about it (of course, not forgetting the keys) and never used the said amount to buy anything then certainly it would be a big surprise. Now, am just wondering if we can categorize this story as a big success or just another ho-hum as we are searching for real and visible mainstream adoption for Bitcoin...
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