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TheHiddenSun | 2 years ago
1. Ownership and Security
Bitcoin is the only solution to really "owning" your money. Everything in your bank account can be stolen / frozen / or made "inaccessible" at a moments notice because of some vague bullshit reason like supporting right extremists or terrorists - even if you donate a single dollar - like it happened in in 2023 Canada / freedom convoy. Everything a bank claims to be secure/safe goes away like a poof of smoke if it really comes down to it. The can't be any safety in our increasingly multi-polar world the political boundaries are redefined daily. Today Russia/China is the enemy, tomorrow it's some other country that will suffer economical sanctions. Or your own country decides to apply punitive measures against some minority group because of political opinion - all the control mechanisms are there and politicians are itching to use them.
2. It's less than our current banking sector
Yeah, consuming this much natural resources / electricity sucks. That's the alternative? Do you count how much money is spend on the banking spector as a whole? I assure you it consumes much more then the 2% in capital expenditure - so indirectly it's more (you could have build renewables with the same money) .
3. Scalability
About the famous argument that bitcoin does not scale: the 7 transaction per second argument -> this problem is completely solved by the lightning network. Lightning protocol does the same with much lower transaction cost and much less energy usage - something like 100x less. Yes support at major vendors is still a bit lagging behind but that's only temporary. Need a 100% confirmation? Do full transaction (for example for accounting purposes). Small sums and personal funds -> can be completely handled by a lightweight lightning network transaction. Bitcoin is a highly technical solution and there are myriad ways things can be improved upon if scalability really becomes an issue - even if the lightning network would become saturated.
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