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Bitcoin Miner Quest
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2024-02-22 09:43:56

Bitcoin Miner Quest on Nostr: A clear indicator that ATHs are on their way! Here is my reaction to some of the ...

A clear indicator that ATHs are on their way!

Here is my reaction to some of the arguments brought forward by this article:

1. “Today, Bitcoin transactions are still inconvenient, slow, and costly.”

Reaction: Lighting Network anyone?

#Bitcoin is not perfect, and a lot more work is needed, but the internet in 1991 was not perfect either. It takes time!

2. “Bitcoin is still not suitable as an investment.”

Hold Euros and I have a GUARANTEE that it will be massively devalued in 10 years time.

The value of #Bitcoin lays in its value proposition, a permissionless, decentralized peer-to-peer payment system which has its own currency that cannot be inflated.

3. “Mining of Bitcoin using the proof of work mechanism continues to pollute the environment”

Reaction: This has been debunked over and over again. Research proves that over 50% of mining energy comes from renewables. A fair comparison would be to compare the global banking system’s total energy consumption and emissions.

4. Quote: “Bitcoin has been characterised by price manipulation”

Reaction: Quantitative easing, quantitative tightening, and interest rate adjustments. Does that sound like manipulation?

5. Quote: “Bitcoin remains the top choice for money laundering in the digital world”

Reaction: Lol

No one launders in Euro. Ever. Promise 🤦

Looking forward to the day the ECB puts BTC on its balance sheet. It will be glorious.

Link: https://www.ecb.europa.eu/press/blog/date/2024/html/ecb.blog20240222~0929f86e23.en.html
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