The DOWNFALL of bitcoin

[KaleidoJack]

Basically, Dark Sky, you are concerned with today and this week. I'm concerned with the next two decades. It's a completely different mindset. If you temporally extend your point of view, BTC's incoming general adopting will make more sense.

 

[KaleidoJack]

It's not the job of the miners to choose environmentally-friendly energy. Their job is to choose the cheapest energy available. It's the government's job to make clean energy the cheapest. Get it?

 

[SamLewis]

It's not the job of the miners to choose environmentally-friendly energy. Their job is to choose the cheapest energy available. It's the government's job to make clean energy the cheapest. Get it?

Mate no offense but you sound like you dont get it.
Try re-reading ops other posts then replying.

 

[KaleidoJack]

lol. try learning how to read

 

[KaleidoJack]

It's called tax benefits. It's a thing in first world countries, btw.

 

[HustleForLife]

Downfall!? Hahahahahahah

 

[Dark Sky]

The solution to this problem is very simple. Governments taxing the dirty energy. The bitcoin miners will then move to the cheapest energy sources (which would be the cleaner ones in this solution).

See? Wasn't that easy? So what's your problem again?

Mate, you don't get it.

The solution to homelessness is simply billionaires giving away their money instead of hoarding it and not spending. Pretty simple right? Guess what, homelessness is still increasing worldwide and it's not getting better.

You assume just because there is a solution, it will be used.

And taxing dirty energy isn't as simple as it seems. Some economies thrive on it. You think countries will damage their own economy to be "Greener"? Think again.

 

[KaleidoJack]

And taxing dirty energy isn't as simple as it seems. Some economies thrive on it. You think countries will damage their own economy to be "Greener"? Think again.

Exactly. Countries can't even agree on that, and you think they'll somehow band together to stop BTC? This entire thread is hysterical rambling about a non-issue. Even the thread title is clickbait.

Your entire argument boils down to: "please guys, use less energy". I'm sorry, but that's not where humanity is headed.

 

[KaleidoJack]

Though, I have to admit, I learned a lot with this thread. Lots of good articles and even videos being passed around. So, all in all, thanks for creating it.

 

[Dark Sky]

Exactly. Countries can't even agree on that, and you think they'll somehow band together to stop BTC? This entire thread is hysterical rambling about a non-issue. Even the thread title is clickbait.

Your entire argument boils down to: "please guys, use less energy". I'm sorry, but that's not where humanity is headed.

Again you completely missed the point.

The entire thread is about, will governments step in, or more importantly, will the USA step in and cause the downfall of bitcoin and use the environmental issue as it's angle.

I don't think countries would band together. I think the USA gov/banks will bring this down eventually. We have seen what the USA did in the past, they spied on their entire country, they confiscated gold.

Let me remind you of:

"executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."

Where they actually went around forcing people to give their gold up.

You think the taxman in the USA can't track who has bought bitcoin? You think they don't have power to force other governments to ban it too? Let me remind you, the USA do not f**k about when it comes to something that threatens them. The USA take extreme pride on their economy, and bitcoin is a massive threat to it.

 

[KaleidoJack]

Oh, so it's a conspiracy theory thread?

Don't worry, man. The USA wants BTC and BTC isn't a threat to its economy. It's merely a new financial asset. Even BlackRock and JP Morgan are advocating its adoption.

BTC isn't going to replace fiat currency or the US dollar.

 

[onlinemarketer12]

Over 74% of Bitcoin Mining is Powered by Renewable Energy.

Any proof ?

 

[Tisha]

Buy the dip!

And Sell the rip!

 

[MartinRaymond1999]

You've completely missed the point.

2/3 of bitcoins energy use currently comes from dirty energy. Not clean energy.

That means bitcoin is harming the environment, quite considerably, as it is. It's not good for the environment at the minute. That is a fact.

Saying "Yeah but it has the potential" is like saying "yeah china can be green, but let them carry on as they are, one day they will be green"

The problem is, we are already failing to meet the paris agreement targets to prevent going above the 1.5 degree temperature. Now the UN has come out and said it's probably impossible to meet that now even if we tried.

We are failing as it is to meet the deadlines. Now you want to throw bitcoins dirty energy on top? That's the issue.

Seems you didn't read the first article I posted as he thoroughly debunked what you said about it being dirty energy.

I am not saying I understood all of what he said but it was very well sourced and studied.

 

[Archer99]

Let me remind you of:

"executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."

Where they actually went around forcing people to give their gold up.

You think the taxman in the USA can't track who has bought bitcoin? You think they don't have power to force other governments to ban it too? Let me remind you, the USA do not f**k about when it comes to something that threatens them. The USA take extreme pride on their economy, and bitcoin is a massive threat to it.

The likelihood of the USA fucking over BTC, mind my french in today's age is very slim. The 1930s called for different measures and at the time, was probably deemed appropriate.

You're right though if the government really wanted, they could, but I'd imagine it be really hard in this decade because it goes against the very core of American values; freedom baby. Plus, the Biden administration seems to be in favor of cryptocurrencies, opposed to the last administration.

 

[Deleted member 1333509]

 

[Dark Sky]

I agree, bitcoin is fantastic for a lot of areas.

One thing I would like to ask you, since you write articles on it.

Why bitcoin over other cryptos? Why is bitcoin the main crypto. Why can't someone make a crypto that does everything bitcoin can, but with improvements?

 

[Deleted member 1333509]

I agree, bitcoin is fantastic for a lot of areas.

One thing I would like to ask you, since you write articles on it.

Why bitcoin over other cryptos? Why is bitcoin the main crypto. Why can't someone make a crypto that does everything bitcoin can, but with improvements?

It's pretty late here and I don't know if I have it in me to be coherent, but I'll give it a crack.

Bitcoin is the main crypto because it has legacy benefits from being the first crypto, because it's profile is much larger than other cryptos (everyone's mum knows what Bitcoin is, no one's mum knows what Cardano is), and because it is way more decentralized than other cryptos.

I'm sure the guys running Ripple would say that XRP and Ripple provides all sorts of benefits over Bitcoin. Yet we don't see the SEC suing Nakamoto, because they can't. That's a strength. We can rely on using Bitcoin to be dramatically less likely to be able to be hampered by governments and the financial sector.

People have improved upon Bitcoin - Litecoin, BCH and others are direct products of Bitcoin + "improvements". But people trust Bitcoin Core.

The value that Bitcoin has isn't just technical value or economic value, but also brand value. Let me ask you this.. why don't you create a version of Youtube today with improvements and try to compete with Youtube?

That answers your last question. People don't care about marginal improvements.. they care about Youtube and they care about Bitcoin. Projects trying to be "better than Bitcoin" go down faster than a broke stripper on rent day mate.

 

[Dark Sky]

It's pretty late here and I don't know if I have it in me to be coherent, but I'll give it a crack.

Bitcoin is the main crypto because it has legacy benefits from being the first crypto, because it's profile is much larger than other cryptos (everyone's mum knows what Bitcoin is, no one's mum knows what Cardano is), and because it is way more decentralized than other cryptos.

I'm sure the guys running Ripple would say that XRP and Ripple provides all sorts of benefits over Bitcoin. Yet we don't see the SEC suing Nakamoto, because they can't. That's a strength. We can rely on using Bitcoin to be dramatically less likely to be able to be hampered by governments and the financial sector.

People have improved upon Bitcoin - Litecoin, BCH and others are direct products of Bitcoin + "improvements". But people trust Bitcoin Core.

The value that Bitcoin has isn't just technical value or economic value, but also brand value. Let me ask you this.. why don't you create a version of Youtube today with improvements and try to compete with Youtube?

That answers your last question. People don't care about marginal improvements.. they care about Youtube and they care about Bitcoin. Projects trying to be "better than Bitcoin" go down faster than a broke stripper on rent day mate.

That's what I don't get....

Bitcoin is all about it's functionality, not it's image. But it's the image that's driving the price up so high. And that makes me think it's not a long term investment.

All I hear from people is "Bitcoin can do this, bitcoin can do that, bitcoin has so many positives" Which in fairness, it does. However if that's the sentimental reason for it, then the price rise due to image cannot sustain surely?

I'd say YouTube and branding is different, because there are no real competitors. I mean youtube and facebook are constantly improving, and we often see technologies and brands failing because they cant keep up, AOL, blockbuster, blackberry phones, Kodak, Yahoo.

All big in their time, but they couldn't adapt.

I see this as a giant flaw in bitcoin no? As other cryptos keep on improving, bitcoin gets left further and further behind. Afterall, why would I invest in bitcoin as a long term investment, if new cryptos are becoming better and better?

It's what I really don't understand about the market right now, and It's why I'm so sceptical of jumping in half way through a wave. It just seems so unjust to have rises like this.

I mean is there really another technology on this planet you would invest in that doesn't get updated anymore? Bitcoin seems to be the Blacksheep in the technology world.

 

[Deleted member 1333509]

That's what I don't get....

Bitcoin is all about it's functionality, not it's image. But it's the image that's driving the price up so high. And that makes me think it's not a long term investment.

All I hear from people is "Bitcoin can do this, bitcoin can do that, bitcoin has so many positives" Which in fairness, it does. However if that's the sentimental reason for it, then the price rise due to image cannot sustain surely?

I'd say YouTube and branding is different, because there are no real competitors. I mean youtube and facebook are constantly improving, and we often see technologies and brands failing because they cant keep up, AOL, blockbuster, blackberry phones, Kodak, Yahoo.

All big in their time, but they couldn't adapt.

I see this as a giant flaw in bitcoin no? As other cryptos keep on improving, bitcoin gets left further and further behind. Afterall, why would I invest in bitcoin as a long term investment, if new cryptos are becoming better and better?

It's what I really don't understand about the market right now, and It's why I'm so sceptical of jumping in half way through a wave. It just seems so unjust to have rises like this.

I mean is there really another technology on this planet you would invest in that doesn't get updated anymore? Bitcoin seems to be the Blacksheep in the technology world.

By what metric is Bitcoin "getting left further behind"?