Feb 16, 2023Liked by โญ๐ฅ๐๐ฏ๐ฉ๐ข๐ช๐๐ค๐ซ๐ข
Bitcoin has both a faulty security model and a faulty monetary model.
Since Bitcoin is deflationary it can never replace fiat currency, since an actual economy run with a deflationary currency would soon produce almost no goods (consumers would wait for prices of goods to go down, producers would expect lower sales and reduce production = economic death spiral ensues). So BTC can mostly be used as "digital gold", which means few transactions, low tx fees, until soon the network becomes unsecure (in 40 years you'd need a BTC market cap of $700T just to have same security level as it has now if txs don't pick up significantly.
Bitcoin has both a faulty security model and a faulty monetary model.
Since Bitcoin is deflationary it can never replace fiat currency, since an actual economy run with a deflationary currency would soon produce almost no goods (consumers would wait for prices of goods to go down, producers would expect lower sales and reduce production = economic death spiral ensues). So BTC can mostly be used as "digital gold", which means few transactions, low tx fees, until soon the network becomes unsecure (in 40 years you'd need a BTC market cap of $700T just to have same security level as it has now if txs don't pick up significantly.
Love the shitpost part
There are massive Incentives that are aligned to secure Bitcoin, literally hundreds of billions of dollars.