- cross-posted to:
- foss@beehaw.org
- cross-posted to:
- foss@beehaw.org
An enlightening and high quality video on how money and the banking system work, why they are corrupted and what is the solution.
An enlightening and high quality video on how money and the banking system work, why they are corrupted and what is the solution.
Bitcoin is one of the most successful open source projects to have ever been created, and it gets downvoted to hell anywhere it gets brought up. 15 years of growth in network size, usage, and capability. Surviving attacks and attempted bans from nation-states. Not a single hour of downtime, not a single hack, reliably transferring money across the globe to anybody with a cell phone and a halfway reliable internet connection in seconds to minutes for pennies to dollars in fees. 100% open source and decentralized, uncorruptible, open to whoever wants to use it, the way currency should be. It’s got a market cap bigger than Sweden’s GDP and is already more reliable and widely accepted than most national currencies. Nobody can make it print money it isn’t meant to print or move money it isn’t supposed to move.
Theoretically cryptocurrencies are interesting, but Bitcoin just isn’t usable.
Bitcoin and many other currencies have way too many and large fluctuations in value for daily use.
Bitcoin specifically is not practical for transactions in general due to cost and block size limits. Yes, lightning exists, but maybe your technology is shit if it needs a second overlay network to function.
Instead of fixing those issues, most other coins are just pump and dump schemes for a quick buck.
Only very few coins try to do something different and fix some of these issues.
I absolutely shit on crypto forever until actually reading into it. Alas, new things are too scary for
conservativesmost people to consider. I’m glad I grew up, being able to recognise Bitcoin as a genuine effort at creating a good thing instead of a fad.