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Bitcoin, as it was originally envisioned, IS dead. It's not a replacement for cash. It's prohibitively expensive to use for regular transactions. It's also a co
by dcchambers 9y ago
Bitcoin, as it was originally envisioned, IS dead. It's not a replacement for cash. It's prohibitively expensive to use for regular transactions. It's also a colossal waste of energy. It's become similar to stocks/ETFs...something people trade/speculate on/gamble with to try and get rich.
When I had bitcoin first explained to me in ~2011 I was told that it would save us all from the evil that are banks, transaction fees, and the government. Six years later, bitcoin has made a few people very, very wealthy, but us laymen still can't use it as a cash replacement and the people with decision making power in the Bitcoin community are not interested in ever letting that happen.
It was a fun experiment, but it failed its primary goal.