What escape path for Bitcoin?
The value of Bitcoin is still very high . Some problems of bitcoin are difficult to solve as :
- Slow transaction speed
- consumes a lot of energy
- It is banned in some countries
- Price manipulated
Is there a sustainable future for bitcoin and cryptocurrency ?
Bitcoin will become the coin of payment as its purpose is created. Or is it just a game of whales? A financial game with winners and losers
The problem with the transaction speed and the fees is about to be solved so do not worry about it, second the issue of the energy is grossly exaggerated
if you were to add all the energy consumed by the financial sector and if we were to scale bitcoin to that size bitcoin will be a lot more efficient than the financial sector, third bitcoin is banned in some countries but, who cares about that? And finally the price can be manipulated but that happens in all the markets.
What does this even mean? If you were to add all the energy consumed by the financial sector? What energy does the financial sector use? Second, the criticism on Bitcoin is that it uses all this power for virtually no good reason. It is necessary based on the way it is constructed to consume all this power to run the decentralized network, but essentially nobody needs the decentralized network because it's not solving a real world problem that was needing to be solved. Centralized systems do what Bitcoin does for such a fraction of the power needs it wouldn't even be measurable. That's the criticism on the power front. The analogy to the financial system is puzzling because the "financial system" isn't a defined network like Bitcoin is, and the power consumption by Bitcoin relative to the utility is so overkill that the comparison on the face of it seems ridiculous before you even look at any numbers whatsoever.