Bitcoin : If you ever wondered what corruption looks like its in the video
The corruption of a peer-to-peer electronic cash system.
This is a recurring theme, it really didn’t bothered me at first (circa 2013) because his initial logic that Bitcoin needs a lot of value to be money is right but they (core et al.) strangled the process of bitcoin turning into money by refusing to upgrade the blocksize, these people only care about ”20x my moneys”, well I want to 20x my money too but not on the backs of a greater fool.
Bitcoin was suppose to bootstrap a new form of money for the human civilization, one that cannot become corrupted. Anyone who joined Bitcoin for theses reasons must feel ashamed of talks like these, reeking of ponzi-schemes, no wonder you don’t see any Bitcoin core maximalist on world tours as how Bitcoin will make life better for people that earn pennies a day in Rwanda, no, you read [the exact opposite](https://twitter.com/excellion/status/783994642463326208).
He sounds smart but cannot see beyond his own nose, so many people were using Bitcoin when it was brought down by fees, and there are studies that correlated [the bubble popping with fees getting out of control](https://i.imgur.com/tp0hIzZ.jpg), who here remembers that news of buying a pizza with Bitcoin and getting obliterated by the fees at height of the bubble?
These people, in counter-revolutionary form, truly slowed but not stopped, the adoption of a world-changing technology. This guy, bluntly, flat out lies when he says there is not a lot of value in being money when just [physical money far surpasses the value of gold](https://cdn.howmuch.net/content/images/ex3-5-1.jpg) – the store of value of mankind for thousands of years – its not by storing value you create value, its by trade and commerce, and human activity that became impossible within Bitcoin.
I’m starting to think the LN is being hyped to fail on purpose so they can say ”look we tried to make Bitcoin work as money but it cant…”. An evolution of the ideals of the Bitcoin core maximalism lies with socialism and fascism as you can see with the censorship, and the rejection of the idea of enriching the civilization by empowering the individuals – denying the use of sound money by imposing ridiculous fees.
edit: glad someone stuck a fork on it (Bitcoin Cash).
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
FindCrypto scans the web for the latest Bitcoin news, so you can find all the latest and breaking news in one convenient location.
Don’t forget to share the post if you love it !