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RE: Is this the Bitcoin Ace ?
OP’s post mentioned Bitcoin being born as an alternative to bank money. Yes and no... it’s really a apolitical money taking financial control fraud away from governments and their buddies in the revolving door of govt-corp-central bank. Bitcoin bypasses their favorite tool, the printing press.
Thank you.I agree about the common government practice of printing money. Quantative Easing is the name they give it I understand. Sounds better than Debt. As someone brought up to believe - Save a penny over income, result happiness - Spend a penny over income, result misery, I just can't fathom how US & UK national debt will ever be paid off ? Is a lot of misery waiting for future generations down the line ?
Their plan is to have all the boats sink simultaneously so that nobody can jump ship for another. They didn’t plan on the Internet and its cypherpunks coming up with an end-around.
The thing I most admire about this new science fiction paradigm called Bitcoin that we are building is that it has expanded the collective consciousness into contemplating new possibilities for the shape of our future. Until this happened, I think ‘the man’ was pretty comfortable with the power structure... but shit happens.
I'm not sure that Bitcoin will become the alternative finacial system.It seems there are too many issues grumbling away in the background -
Transaction charges too high - Processing too slow - Limited scope to scale to handle increasing demand. It's one of the drawbacks of being first.
Those coming after benefit from seeing the problems with the original.
The important invention in my view is the Blockchain.It provides ways and means to be independent of the financial institutions.
Bigger and better Cryptocurrencies will evolve.
Scaling any blockchain is hard. Scaling on-blockchain is impossible w/o massive centralization. I think the roadmap that Bitcoin is on will work... base layer for settlement, higher layers for fast txns, anonymity, different projects, etc. Bitcoin got too popular too fast this year, and that big price bump really incentivized some ridiculous stuff. Don’t forget to put the proper value on ‘censorship resistance’ when looking at alternatives. Pretty much every other altcoin could be torpedoed by a legal summons.
Thank you.I hope you are right about Bitcoin because I have transferred a small amount of my Steemit earnings into it.
You have much more practical knowledge than me.Am following you.
Much of my writing on Cryptos is from instinct.I just feel a latecomer will benefit from the problems that Bitcoin seems to have, and avoid them.
Bitcoin has the most decentralized and smartest devs. It’s a no brainer for the majority of you crypto portfolio... that’s not just my opinion either.
Very nice to see Steem crypto doing so well. I suspect it is largely Korean speculation and new users. Look how many ‘new’ posts are Korean.