I’m generally very supportive of all crypto projects as I believe in a more decentralized society. As a person who loves and believes in the democratizing power of BTC, I regret to say that I am not a fan of this particular project. For what it’s worth, I’m not going to impugne the motives of the project’s developer, but there are two main reasons that I’m not going to take part in this one:
1) The idea that burning 1BTC in exchange for 1 unit of this new coin holds a reasonable value proposition is lunacy on its face; and,
2) I genuinely believe that this is a solution in search of a non existent problem. BTC does not need to be replaced (obviously I don’t believe that this project could ever achieve that even if the need existed). The anti crypto / pro CBDC demagogues already erroneously cite environmental concerns as a reason to oppose crypto, and we don’t need that sort of rubbish from inside the community. Crypto, and BTC specifically, are not a threat to the environment. If people are concerned about the pollution generated by the generation of electricity, then by all means, go invent a functional and economical renewable energy source. Don’t blame BTC. As a miner, if I could operate near a hydroelectric source, or use some other renewable source of energy, I would; it would increase the profitability of my machines! The incentive already exists.
Let’s not pretend that BTC mining is a serious power consumer compared to other industries either please. The entirety of the BTC mining industry’s power consumption is a veritable drop in the ocean, never mind the proverbial bucket. As I said, solution in search of a problem.
Thank you for sharing your opinion with such class and poise. A lot of people on this forum have forgot how to disagree with someone in a productive fashion. We are all in pursuit of our own truth. Your truth does not take you down the path of Bitcoin Eco. We respect that 100%. Does not mean we disagree on everything. Both share the love for decentralization of society. We both seem to love blockchain and crypto technology. If we where to sit down for tea. We would become friends over mutual shared interest. Conversation would be effortless and we would share so many similarities in our passions. Thank you again for sharing your opinion is such a positive way and even if we disagree on certain talking points. We are all here for the promise of a better tomorrow. Even if we don’t share the same outlooks. We all subscribe to the freedom of a decentralized free society. Your account is very new but you have an amazing quality about you.. Allow us to share some merit with you. The way you disagree with such integrity is merit worthy
