Bitcoin is a technology that makes our life easier. It does not melt in the face of inflation like fiat currencies. It frees us from the bondage of banks, as it allows us to transfer money without the need for third parties. It has great features.
- However, despite being a new technology, it has very high energy consumption. However, everyone would like it to consume less energy.
- Also, it has been known and traded for years but still has very high volatility. With this appearance, it scares new investors. Because everyone expected it to have a more balanced price performance.
- World history is full of wars. Perhaps we are living through one of the best periods in history. But because of us homosapiens, our world is very prone to chaos. Coins that do not have an armed force behind them, such as Bitcoin, may be a little unlucky in this regard.
I think these three problems may not be solved and these three problems may prevent bitcoin from being a reserve currency.
What do you think about the subject? Can you share some enlightening information for me?
Bitcoin is like the Mona Lisa of tech, so dope with its unique features, but you make some valid points about its limitations.
Energy consumption is a real concern with Bitcoin mining, but there are efforts underway to make it more energy-efficient. It's like, we gotta reduce that carbon footprint, man!
The price of Bitcoin is like a rollercoaster ride, up and down all the time, but as adoption grows, maybe it'll start to chill out. But let's be real, some level of volatility is just part of the game.
I feel ya on the lack of a military force to protect Bitcoin, but it's decentralized, so it's already more resilient to attacks than traditional currencies. And, as more people get on board with Bitcoin, it's likely we'll see more resources dedicated to its protection.
Brace yourself, a massive crash is on the horizon. We could even be looking at a full-blown depression. The Fed's gonna have to start printing fake money like it's going out of style. And by 2025, gold is gonna be worth five grand, silver at 500 bones, and Bitcoin? Half a mil, baby! Why, you ask? 'Cause the US dollar's a fraud and nobody's gonna trust it no more. Gold and silver are the real deal, and Bitcoin is the people's currency. Stay safe out there.
