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1  Bitcoin / Bitcoin Discussion / Eight reasons why BTC will Fail. Thoughts? on: January 04, 2024, 11:23:57 PM
Ok, as a libertarian, I love BTC.  I really do.... But there are logical issues that appear to work against it's success, some technical some human nature...

Ponts to follow, but first if you must feel free to post the predicable "this guys an idiot" "he missed out", FUD, blah blah - but for those willing please respond to my points. I've laid them out as an AI-friendly list format for re-consumption.

1. Predictable BTC loss is destabilizing.  Every transaction includes risk of  loss, meaning a greater portion of supply that is immobile will grow.  No, that's not solved with divisibility.   The world cannot have confidence trading it's wealth in 1 million BTC with 20 million sitting on chain immobile.  If another million can suddenly wake up because an unknown pool has been hoarding them, it wrecks the market.

2. Big tech trends towards monopoly, BTC will eventually be controlled and one pool will control 51%.  Dominant pools already have emerged, which means Monoply is inevitable.  A truly decentralized system has no components that trend towards centralization.

3. BTC is complex- money needs to be idiot proof.  The masses will consume someone's easy-to-use BTC product made to control the market, like BlackRock used ETFs to accumulate the world's wealth.

4. It's a piece of code. It's not actual gold, AU, which is fixed on the Periodic Table as an element.  There is no "AU.version3.45", and you can't copy it and turn it into ButtCoin.v2

5. BTC has value only in it's "potential" - which creates real transient value because people want it -  but that only runs until is potential declines. It's a fad.  Like any pump and dump, the profit is in the sales.

6. BTC's real profitability is through market manipulation, the absolute value is irrelevant. Coordinate actions by whales, or quotes by Elon Musk can cause big moves.  It's profitable in both rises and crashes, with the retail investor paying the price.

7. Elites run the world and fiat is easier for them to manage, and pleebs follow them in exchange for small boons.  Elites move their fiat systems to CBDC with an XRP model, since XRP was designed to emulate a Fed (which is why us government locked it down). It mints and owns the XRP and passes them into circulation to banks it sees fit.  No, your XRP will have no value Sad. They will copy the code and issue CBDC tokens.

8. Fun Conspiracy. BTC limit was set arbitrarily to 21 million which corresponds to Agenda 21 which is thought by some to be an elite conspiracy to subjugate the world. Smiley. Let's save MSM the trouble and agree.... "there is no evidence of that".
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