I agree. The sad part is that it was a great idea, but poorly executed.. and now we are too deep into it to roll back without massive financial losses. That said, blockchain tech is amazing and can actually solve some real problems. Bitcoin is just a wasteful distraction.
While I do agree that a lot of cryptocurrencies out there might not be super practical from a sustainability as well as regulatory standpoint, the idea of a decentralised currency is something that Bitcoin has popularised and should not be discarded.
Before we got to the present day social media, we had MySpace, Friendster etc., before we got Google, we had Altavista, AskJeeves etc. and there are many more examples in different sectors.
So even though in its current form Bitcoin might not be viable, hopefully it will pave the way for something far more sustainable and practical :)
Oh I agree. I think the world has much to gain from a decentralized financial system. While Altavista and AskJeeves gracefully gave way to Google - a more efficient and superior product - Bitcoin has become a pump and dump scheme. Unfortunately there is so much money locked up in that investment, that there is not going to be such a peaceful transition.
That said.. Ethereum is switching to proof of stake from proof of work, which is about 100 times less energy intensive. Its also the 2nd most popular crypto, so I am more optimistic there. But Bitcoin? oh well, that ship has sailed to oblivion. Thanks for your comment :)
Completely agree.
As far as I'm concerned, Bitcoin is a Very Bad Idea on the scale of transporting used tyres around the world and building the Nordstream 2 pipeline.
I agree. The sad part is that it was a great idea, but poorly executed.. and now we are too deep into it to roll back without massive financial losses. That said, blockchain tech is amazing and can actually solve some real problems. Bitcoin is just a wasteful distraction.
While I do agree that a lot of cryptocurrencies out there might not be super practical from a sustainability as well as regulatory standpoint, the idea of a decentralised currency is something that Bitcoin has popularised and should not be discarded.
Before we got to the present day social media, we had MySpace, Friendster etc., before we got Google, we had Altavista, AskJeeves etc. and there are many more examples in different sectors.
So even though in its current form Bitcoin might not be viable, hopefully it will pave the way for something far more sustainable and practical :)
Oh I agree. I think the world has much to gain from a decentralized financial system. While Altavista and AskJeeves gracefully gave way to Google - a more efficient and superior product - Bitcoin has become a pump and dump scheme. Unfortunately there is so much money locked up in that investment, that there is not going to be such a peaceful transition.
That said.. Ethereum is switching to proof of stake from proof of work, which is about 100 times less energy intensive. Its also the 2nd most popular crypto, so I am more optimistic there. But Bitcoin? oh well, that ship has sailed to oblivion. Thanks for your comment :)