Post
Topic
Board Bitcoin Discussion
Re: Bitcoin negatives
by
goldkingcoiner
on 22/08/2023, 17:54:32 UTC
Bitcoin:

93% premine to anyone born today.

100% premine to anyone born in 2140.

Causes toxic waste material (even hal said this).

Waste of energy that could be used to solve cancer or feed people (hal said this).

1 person can be 50% of the network.

Fiat can buy all the miners and coins, Central bankers still win.

People have been killed for it and tortured (sure this happens with fiat but the blood is on your hands now).

Network fee only goes back to miners this leaves no funding for roads, garbage, schools, medicare or disabled veterans.

1-3 hour transactions

high network fee cost more than the coffee you are buying

Only 1 miner wins in the end then it becomes centralized, he can push all the other miners out. This will be the FED.
this simulation proves it https://www.youtube.com/watch?v=Q41RW6bxpM4

All your arguments have nothing to do with Bitcoin itself. But I will try to go through your list with solutions, point by point.

1. A capped supply is a good thing, unless you prefer inflation because the supply keeps being artificially pumped.

2. Bitcoin does not cause toxic waste. Miners do. But so do personal computers and phones. That's not a Bitcoin problem.

3. Energy problems are rooted in how we produce energy. Blaming the consumers in how they use energy is backwards thinking.

4. 1 person could theoretically own 50% of the network. But thanks to POW, that's not realistic.

5. You can buy miners with BTC.

6. Network fees are not that high. See lightning network.