The Crazy Underground of Cryptocurrency and the Promise of Bitcoin Is Beginning to Fade Away

It's been a while, 12 days ago as indicated on the timestamp, since the last time I made some of my chaotic stream of consciousness available to public.

And this is not to be understood I am now retreating from what I have just started. I was just wasting my time on that period, yes I am that a legendary time waster. Time you enjoy wasting is not wasted time anyway, in the words of Bertrand Russell.

I was wasting it in such a way of snooping around the comment section on web pages within and outside steemit.com with the goal of satisfying my curiosity on what is happening in the dark world of cryptocurrency.

A strange activity in which I would never have done if not because of my current involvement with the Steemit social media.

The internet is like a rabbit hole. A single discussion can lead you to another realm and the story never ends you wake up in wonderland only to realize out you haven't eaten your lunch. Agree with me? lol

From STEEM POWER to SBD, STEEM TO BTC, that I could no longer notice I needed to recharge because my laptop was also powering down.

My fascination got intensifies when I stumbled upon this guy's comment.

North Korea, Kim Jong-Un is mining Bitcoin at a State Level. They might be the BCH 95% anonymous mining power of Bitcoin Cash as you can trace most exchanges on BCH come from Korea and Japan, which as well can led to the thought Roger Ver could be behind the actual pump FOMO.

Raising the value of the unprofitable mining invested to catch backon it. But maybe people buying BCH are actually supporting North Korea's Economy! So funny to imagine stupid Americans paying for the north korean nukes that will destroy their country!

Whether this wild speculation is true or just a figment of his crypto-nuclear imagination, one thing that I begin to realize--the underground territory of cryptocurrency is crazier than me.

But the story did not end there. Even more surprising for my innocent state of mind is the processing fee when you transfer Bitcoin into another wallet.

Though I have heard buzz all these years and all those mining shit people were talking about but I haven't actually had a direct experience with BTC in any way.

But no longer this time. I am not a crypto virgin anymore. Just so you know. Hehe

Just few days ago I had this sudden impulse to give it a go. Since I had no any alt coins to make the bargain, I was forced to follow the only viable route. Fiat in exchange for some Satoshi Nakamoto.

Long story short, to feed my sense of curiosity I attempted to transfer some from my local wallet into Coinbase Bitcoin Wallet in order to see how it works.

You wouldn't believe me if I say I suspected my operating system was somehow infected by a virus because of the total amount I would have to pay for that single transaction.

For simplicity sake, 10 USD was the $ equivalent of the amount I was supposed to send. I don't live in the US.

But when I saw the final summary it got me into thinking, the essence of peer-to-peer transaction is nowhere to be found.

The price has almost doubled as I was charged $6 for transferring $10. That would equal to $16 had I persisted.

Come on TARS!

The BTC hype was massive. Decentralize system, peer to peer, zero-fee transaction, so on and so forth. Blah!

Take a look at this first guy's emotionally fueled statement. Perhaps this video is outdated and this has to be modified for real.

Financial utopia has been the gospel of these Bitcoin evangelists. But now it becomes more apparent than real. The psychobabble doesn't make sense any longer. They need to get back to the drawing board.