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You're repeating a false narrative which was commercially financed in order to promote alternatives (ironically). Bitcoin absolutely is electronic cash. We've
by nullc 3y ago
You're repeating a false narrative which was commercially financed in order to promote alternatives (ironically). Bitcoin absolutely is electronic cash.
We've seen the alternative play out in forks that have become completely centralized as a result of ignoring the tradeoffs with the technology in use, and as a result have been undermined with "functionality" like confiscation transactions (transactions that let miners take any coins they choose).
What bitcoin isn't is a paypal clone. That already exists and it's not of substantial value to the world to add another centralized high volume payments rail. It's absolutely fine that people also want to use it that way, but optimizing for that case can't come at the expense of the security properties that make Bitcoin interesting in the first place. Alternatives that make different tradeoffs do exist, and I think the results speak for themselves.