As long as we have central banks, #Bitcoin will never be a widespread medium of exchange. I also seriously doubt the reliable store of value.https://twitter.com/MustStopMurad/status/1022169639386836992 …
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It's precisely because of Fed dumping that BTC will be seen as valuable. It's fixed-supply, sound money, stricter than Gold. The *ELITES* and *GOV OFFICIALS* themselves will buy it ;)pic.twitter.com/PQK1PFTzoG
As you said, only 1s and 0s online. Control over 50% and you'll be the king of Bitcoin. I'm skeptical. CBs in the east are buying gold and I'm long some physical gold but until we see some turbulence in the economy it's hard to say what happens to bitcoin.
Value is subjective. What we collectively agree to be valuable doesn't have to be physical. Money is an abstraction.
A global monetary standard based on Bitcoin doesn't suffer from Gold's centralization-in-vaults problem which inevitably leads to corruption and excessive fiduciary media supply expansion.
You don't think that massive centralization of processing power needed for blockchain verification is centralization-in-vault type of a dilemma? Isn't it so that over 50% is enough to alter the whole chain?
A security issue: everything processed with AMD or Intel chips can be tracked and managed in these companies. The US is notorious on being a control freak and so it's not unreasonable to think that they could use that power. Far fetched maybe but not the same issue with physical.
Plus bitcoin transactions rely solely on internet which can be easily managed of distributed. We saw a prime example of this in Puerto Rico.
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