Not spreading FUD - fear uncertainty doubt.

I'm educating myself and trying to better understand surrounding reality.

More often than not I'm making poor decisions - especially in relation to trading and investing - you might be better off not listening to me at all.

This blog posts presents basic facts - you are encouraged to do your own research.

Snapshot Wed 20 Dec 14:30 CET

$300b is half of Google

Google daily reach is half of the population and they have something like 100k very smart employees.

$300b is more than most national currencies

Countries have land, roads, industry, infrastructure, services...

Worry 1 - centralisation

See: https://medium.com/@homakov/stop-calling-bitcoin-decentralized-cb703d69dc27

Specifically China vs non-China miners distribution.

Worry 2 - minting Tether

See: https://twitter.com/Bitfinexed/status/943470224988409856

The reasoning is simple - if I was CEO of Tether and there ware USD backing it - I would be proud to allow anyone and their dog to looks at my books, audit, vaults any other evidence proving that Tether is for real.

Worry 3 - cost of 51% attack

(related to #1)

Little spreadsheet: https://docs.google.com/spreadsheets/d/1FHsroOjgXQr2cNVOFFcZu3xmw99YOdcEzsw5nnNWVgA/edit#gid=0

$1.5b at market prices. I've seen somewhere an estimate that https://halongmining.com/ spent $30m in R&D. It is still not much compared to the overall market cap.

Worry 4 - who were the early adopters?

(related to #1)

Crypto-anarchists, cypherpunks and entrepreneurs on markets like Silk Road.

I'm not a racist, sexists, ageist or anything - just saying doctors, teachers and other reputable professions should also have their share in the future.

Worry 5 - finding random numbers is pointless

The way how PoW (proof of work) mining algorithm works - it doesn't offer any benefit to humanity - hashing blocks of data rather than curing the cancer or investing in longevity.

We wanted flying cars, instead we got 140 characters.

Enough worries - Bitcoin has much further to go...

See John McAfee: https://twitter.com/officialmcafee/status/935900326007328768

Personally I'd be more comfortable if Bitcoin value stabilises at certain level. Currently it's pretty difficult to set prices denominated in Bitcoin.

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I encourage you to hodl some portion of your savings in Bitcoin. I encourage you to invest in education -
https://github.com/bitcoinbook/bitcoinbook

This is what I'm doing now - investing time, energy, effort (sweat equity) rather than money.

Bitcoin is not ideal and presents some worries (main theme of this article). At the same time there is no better alternative for global economy... We are still early days, Bitcoin is here to stay.

Portion of blockchain related good news:

• mining coins by planting trees: https://regen.network/
• fetching transactions from the satellite: https://github.com/Blockstream/satellite

Please comment and debunk some of the worries!

I'm educating myself and trying to better understand surrounding reality.