As usual, there are a lot of negative comments here on what seems like a good news given how bitcoin is criticized for using chinese coal-based energy for minin

As usual, there are a lot of negative comments here on what seems like a good news given how bitcoin is criticized for using chinese coal-based energy for mining. Let me respond to the most popular ones I've read in this thread and hopefully, I'm able to at least get some rational skeptics to at least re-assess their priors Too Volatile To Be a Store of Value: Volatility alone doesn't make something not a good store of value. Gold, a popular store of value is much more volatile than the US dollars but if you held gold from 50 years ago, you'd be up 37X against the dollar [0]. What makes something a good store of value is how scarce and easy to transfer both across space and time it is. Bitcoin can't be blamed for the casino mentality, it's up to market actors to use bitcoin as a store of value and from what I've observed, that's going to be the long term outcome. Bitcoin is slow: The argument that bitcoin is slow and expensive is a fallacy. Bitcoin is a settlement layer and when evaluating the speed of a settlement layer, the emphasis should be on speed of settlement assurances and transaction finality[1]. Bitcoin being an open decentralized settlement layer makes this even more important. Comparing bitcoin to visa or sepa which don't settle instantly is disingenuous at best and ignorant at worst. If you want faster transactions, use a layer 2 solution like the lightening network which is orders of magnitude faster and cheaper than visa [2]. Bitcoin is ponzi scheme: This is a complete fallacy both in theory and in practice and it's pretty offensive to suggest that well-meaning people working hard to make finance open and globally accessible are a cabal of scammers looking to steal money from unsuspecting investors. Surely there are bad actors but that's the case in any industry. Don't believe me? Bitcoin chainanalysis shows emphatically that the vast majority of coins that moved in this crash were new spends in the past months which shows that it's the new buyers that are selling[3], where then is the pyramid scheme? In fact, The early adopters of bitcoin are the least likely to sell. I hold bitcoin not to sell and many in my network are like me(although I can't speak for them). MSTR as an example hasn't sold a single coin, in fact they bought more. I could go on but it's very exhausting that a technical forum is so negative towards an emerging technology with a lot of promise, it's even more disturbing that a lot of the criticisms are uninformed. We can do better. 0. https://goldprice.org/gold-price-history.html https://goldprice.org/gold-price-history.html 1. https://medium.com/@nic__carter/its-the-settlement-assurances-stupid-5dcd1c3f4e41 https://medium.com/@nic__carter/its-the-settlement-assurance... 2. https://medium.datadriveninvestor.com/lightning-is-3-7-million-times-more-efficient-than-visa-87065d13eea9 https://medium.datadriveninvestor.com/lightning-is-3-7-milli... 3. https://twitter.com/100trillionUSD/status/1396609082111504386 https://twitter.com/100trillionUSD/status/139660908211150438...