0 - "bitcoin is ratpoison
2"
it is ratpoison
2. but the real question is... who are the rats bitcoin is poisoning
ratpoison doesnt harm good normal people it harms rats.
in the UK if your working in the busy finance sector it is called living the "rat race" lifestyle. meaning the fiat sector are the rats.
as for the 'squared' well the original 'ratpoison' meme was said years earlier. when the price was 100.. and then buffet called it squared years later and at that very date it was $10k.
i think buffets reply was more of the maths side of it.. meaning he was saying it is the same thing as years ago but the price has squared
100
2=$10k.. the price of bitcoin vs the price of bitcoin when the original quoter called it.
so although it sounds bad to give it a derogatory title. the meaning and the value are both deeper hidden meaning. which if you think about it hard and deep, he is right.
1 bitcoin is slow
first of all bitcoin is slow for certain things. but it seems too many people are reading the same scripts and mantra that want to kill off bitcoin utility and hand it over to another network.
LN is not a bitcoin feature. LN is a separate network that will be used by multiple coins. and required bitcoin to be transformed to fit LNs network rather than LN transforming to fit bitcoins network.(i found that funny)
bitcoin can innovate to be better onchain. but those saying its slow, cant scale, cant buy coffee. are literally saying its broke and stop using it.. then offering a different network.. so to those saying use something else like LN or an altcoin.. please sod off. get away from bitcoin yourselves, go play with other networks and let real bitcoiners remain an re-innovate bitcoins network.
2 bitcoin wastes energy..
wrong. but i wont waste energy reexplaining why. ill just quote myself explaining why from another thread
power plants do regulate. and at night they do shut down some generators.
but they do try to keep some excess between produced and consumed.
it does take 30mins-1 hour to restart a generator. so they like to keep a gap. and they also like to sell some of that excess to other countries** that have less of a gap and suddenly had a surge of consumption that was unforecasted.
**OR INDUSTRIES hint hint
and as part of my post with loads of maths i was going to add a sarcastic comment to the reddit propagandists who scream "china 51%"
so here goes
lets imagine out of the 20.7twh that 50% was just in china (10.35)
china consumes 5683
china produces 6529
=836 difference (13% safety gap)
10 vs 836 excess.. = no impact to residences lives
bitcoin uses 20.7twh a year. and that does not cut into other peoples lives. its actually farms buying up the excess energy that would have gone to waste if not bought. so bitcoin actually saves waste.
EG like buying up out of date produce in a grocery store before it goes to landfill so that less goes to waste
and as for your comment about using PoS.. again you seem very hard nosed to actually talk about bitcoin and how its broke and needs LN, PoS.... seems you sound more like a anti-blockchain/antibitcoiner that instead wants a differnt system where it requires middlem men signing for stuff on others behalf...
3. transaction costs are very high
funny part hre again you are trying to sell other coins with cheaper fee's rather than address the cause of the high fee's being devs who want people to stop using bitcoin and to use things like LN..
again i must ask why are you so pro LN, so pro altcoiner, and so antibitcoin...
4. this part i agree. bitcoin is very safe. its the other networks and offchain solutions like LN and exchanges that can be hacked. even the LN devs warn you not to use it with too much funds because it can get stolen. but the onchain funds if you have the only key to the funded address. means you have the only way to move the funds.
5. payment convenience
the use of a conference not accepting bitcoin. is because the conference organisers were not bitcoiners they were fiat handlers who wanted fiat.
the same problem would occur if an american wanted dollars but he was incharge of organising a EURO event with Euro participants. but the organiser didnt want the hassle of exchanging euro to dollar
there have actually been many conferences where by deals were done that all those involved in organising it wanted bitcoin. and thus the fiat demand/worry was of no concern. those conferences were good and worked.
bitcoin is not the problem its just the people involved are the wrong type of people or not skilled to do whats needed
6. used by criminals
all currencies are used by criminals.... yep even cigarettes. (prison currency) criminals will try anything as a currency. its why they re coriminals because they dont follow rules. and cant be controlled not to use anything. they will steal cars. does that make cars bad because criminals use them. no.
7. bitcoin is a bubble
nothing "is" a bubble. nothing in history has ever been a bubble.
EG the housing bubble, this does not mean houses are bubbles and worthless. it meant the price is INFLATED way beyond its natural value.
EG the tulip bubble, this does not mean tulips are bubbles and worthless. it meant the price is INFLATED way beyond its natural value.
you can still buy tulips today. they are not fake. they are actually real flowers. yes dont be shocked hundreds of years later and you can actually still buy tulips.. but here is the thing. the price is not inflated
you can still buy houses today. they are not fake. they are actually real houses. yes a decade after the housing bubble and you can actually still buy houses.. but here is the thing. the price is not as inflated
the key word is inflated. like a bubble. its about the price speculation which changes. not about the medium/unit/product/asset itself, just its price at a certain given time
