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by Canada
1507 days ago
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I believe in Bitcoin. Specifically, in the sense that the concept of digital money it created is never going to go away now that it's out. It will have the staying power in human life precious metals, paper currency, bank deposits, stocks and bonds. It will exist as long as the internet exists, long after you, me, and everyone on this forum is dead and gone. If you think it's a scam and going to collapse then don't hold any of it. "It is not backed by any government, which means that it can be used to finance terrorism or other illegal activities." Besides that fact that this statement is simply untrue because the government of El Salvador has backed Bitcoin, it is not logical. The endorsement or support or lack of endorsement/support of any currency or money doesn't determine or even influence whether or not it can be used to finance terrorism or other illegal activities. Government backed money funds such things all the time, and will continue to do so regardless of what happens with Bitcoin. I suspect that because you don't like Bitcoin you associate it with bad things, rather than the other way around, though I could be wrong... it is a popular opinion that governments should have direct control over the money of every individual, and Bitcoin is designed to make that difficult. I suspect this is also true of most who oppose Bitcoin because of environmental concerns. No doubt there are those who really are concerned about the energy use, but most are just dismayed that they were wrong and these reasons are just coping mechanisms to avoid having to admit it. |
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Cryptocurrency proponents love parroting that idea. It’s like they are dismayed at the harm caused by cryptocurrencies but don’t want to give them up, so they fabricate scenarios where other people are petty as coping mechanisms to avoid having to admit it.