this post was submitted on 23 Jan 2021
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Privacy
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Why would it be? It will always be faster to bring updates, improve algorithms on a centralized system, while also being better in terms of UX.
Solution to what? The only solution Bitcoin brings is to decentralize centralized currencies, at the cost of privacy, lack of accessibility to most people, and unbelievable energy consumption.
Bitcoin alone draws more electricity than the whole of Netherlands now. It's network is basically a crime against humanity at this point. And I say this as someone with a (small, tiny even) stake in it.
It's negated all gains made by renewable energy, and for what. A "currency" that is even more centralized in the hands of few people than fiat money is.
the main issue I see with bitcoin is that so many people are investing in it and not using it for its real purpose (an alternative to actual money). The fact that the fed prints money while bitcoin is finite shows that there will be less inflation issues. Although I am not an economist
It's a "currency" where the majority of currency got handed out to very few people very early on. It's has a more concentrated level of wealth than the real economy has. And the energy use is a far bigger issue than all others.
It is way more distributed than wealth in the normal fiat system in which only a few owns 50% of all the wealth.
Unlike that system you are also free not to use it.
You also have the opportunity to get other coins or versions that are cheaper.