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BTC mining is highly centralized. Fiat on/off ramps (essential if one wishes to spend her BTC) are regulated by local governments and relatively easy to censor.
by jasonlaramburu 6y ago
BTC mining is highly centralized. Fiat on/off ramps (essential if one wishes to spend her BTC) are regulated by local governments and relatively easy to censor.
If there really were global demand for a censorship resistant currency don’t you think there would be more merchants accepting BTC by now?
- coralreef 6y agohttps://twitter.com/real_vijay/status/968854238095753216?lang=en https://twitter.com/real_vijay/status/968854238095753216?lan... 1/ There are four stages that all market-based monetary goods pass through in their evolution to becoming a fully fledged money: 1. Collectible 2. Store of Value 3. Medium of exchange 4. Unit of account
- jasonlaramburu 6y agoHow many examples of this exist besides gold and silver?
- coralreef 6y agoDepends how far back you go. I'm not a historian, but there are obviously local systems of currency; some used gems, feathers, etc. Rai stones were used by islanders as a ledger and store of value. https://en.wikipedia.org/wiki/Rai_stones https://en.wikipedia.org/wiki/Rai_stones