You make sense Bag... but don't you think the FED will just create their own digital currency & have US Gov make Bitcoin and other crypto's illegal? It's one thing when you are talking a product being better, faster, cheaper... The FED is total monetary (and Political) control. They surely aren't going down without going nuclear first, don'tcha think?
They can create their own - but it won’t be decentralized. It is the decentralization which makes Bitcoin valuable. That is the piece the Fed cannot duplicate - and it is why Bitcoin is going up in price at an exponential rate. When something is decentralized, it cannot be controlled, inflated, rehypothecated, or stolen - and in the event they try and make it illegal, that would only hasten the demise of the US Empire. Believe me, they know they can’t. It’s why they allowed the ETFs to come to market. The ETFs will give Bitcoin investment access to many entities who did not have it before (pension funds, Insurance companies, brokerage houses, etc…) - in otherwords, lots more people can buy it now. The downside is most of those entities, being newbies to Bitcoin, will likely not grasp the importance of self custody - but that’s a blog for another day.
Great article. I love my Costco Visa card, cash back, and now fully recognize I am part of the problem of how credit cards have gotten to be the legitimized bloodsuckers of the economy. As a regular Joe, how could I use bitcoin to buy a cuppa Joe? Are we in the “telegraph“ phase of bitcoin?
The lightning network, which is being built on top of the Bitcoin network will allow you to get your cuppa Joe....funny you should mention Telegraph...
> Simply put, Bitcoin is cheaper, faster, and better than Visa - and it’s not even close.
Every Bitcoin transaction requires as much energy as a typical household uses in a month. It continues to exist only because of the massive network subsidies (about 120 USD per transaction pre-halving as a reward for adding a block to the chain). Bitcoin makes absolutely no sense for typical consumer transactions.
You make sense Bag... but don't you think the FED will just create their own digital currency & have US Gov make Bitcoin and other crypto's illegal? It's one thing when you are talking a product being better, faster, cheaper... The FED is total monetary (and Political) control. They surely aren't going down without going nuclear first, don'tcha think?
They can create their own - but it won’t be decentralized. It is the decentralization which makes Bitcoin valuable. That is the piece the Fed cannot duplicate - and it is why Bitcoin is going up in price at an exponential rate. When something is decentralized, it cannot be controlled, inflated, rehypothecated, or stolen - and in the event they try and make it illegal, that would only hasten the demise of the US Empire. Believe me, they know they can’t. It’s why they allowed the ETFs to come to market. The ETFs will give Bitcoin investment access to many entities who did not have it before (pension funds, Insurance companies, brokerage houses, etc…) - in otherwords, lots more people can buy it now. The downside is most of those entities, being newbies to Bitcoin, will likely not grasp the importance of self custody - but that’s a blog for another day.
“Make btc and other cryptos illegal “?
Right after the SEC approved a dozen BTC ETFs?
Great article. I love my Costco Visa card, cash back, and now fully recognize I am part of the problem of how credit cards have gotten to be the legitimized bloodsuckers of the economy. As a regular Joe, how could I use bitcoin to buy a cuppa Joe? Are we in the “telegraph“ phase of bitcoin?
The lightning network, which is being built on top of the Bitcoin network will allow you to get your cuppa Joe....funny you should mention Telegraph...
https://bagholder.substack.com/p/monopoly
> Simply put, Bitcoin is cheaper, faster, and better than Visa - and it’s not even close.
Every Bitcoin transaction requires as much energy as a typical household uses in a month. It continues to exist only because of the massive network subsidies (about 120 USD per transaction pre-halving as a reward for adding a block to the chain). Bitcoin makes absolutely no sense for typical consumer transactions.