Jesus Christ you cultists are dense.
Cultist? I don't even own any bitcoin right now.
As you can see from that unsustainable $112k figure.
Expensive yes. Unsustainable maybe. But it certainly isn't clear that it is unsustainable. Perhaps it can continue to be sustained. It is definitely possible.
the block reward provides Bitcoin with it's security model by BORROWING from the future to subsidize the present via unsustainable Ponzi.
No... It's redistributing capital from HODLers. HODLers who have voluntarily opted into this system. Again you really don't seem to understand how bitcoin works or maybe just basic economics.
The second you remove the block reward, your security is no longer free
It isn't free right now...
Once only the present matters, if people are not willing to shell out $10k per 10 minutes to have miners process their transactions/secure the chain (or whatever arbitrary number you come up with), then bitcoin dies and no longer exists.
You sound poor to me. You seem to think 10,000 dollars is a lot of money or something
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They can simply go to a different chain where a block reward still exists, thus getting their transactions processed cheaper.
Again. Economicses r haurd. It's not cheaper to have savers pay instead of spenders. It's just a different group of people that is paying. And you have to think, hopefully scaling technologies will allow that 10,000 cost to be divided among many more people than it would currently be divided among with 1mb blocks and 250 byte transactions.
The fact you cannot prevent people from fleeing Bitcoin once it's mining Ponzi dies to get their transactions processed cheaper somewhere else is why bitcoin 100% inevitably dies once block reward goes to zero.
Except that this transition from HODLers paying to spenders paying incentivizes people to just HODL more and harder than they are already doing right now.
In reality, the most likely outcome would be bitcoin converting to something like proof of stake to try and prevent collapse. PoW and PoS are all designed to centralize garbage, but PoW attempts to get by with a "decentralized" meme by being an open entropy system (that is centralized through economy of scale and the large knowledge and capital reserves required to build the foundries and chips). If bitcoin is forced to convert to PoS just to survive (closed entropy systems cannot even pretend to be decentralized like bitcoin pretends to now), the whole thing was obviously an unsustainable Ponzi scam in the first place.
Yea I actually think there is a pretty good chance that your conclusions are correct. It's just your argument's that are bad. Bitcoin will probably be replaced by better cheaper technology in the future that processes transactions cheaper and more efficiently. I mostly agree with your general point. Just not your claim that bitcoin is a ponzi. That is a stupid claim. Satoshi implemented the best solutions to decentralized digital currency that were known and available at the time. It is very unlikely that satoshi schemed to lure everyone into an open system that would later become restrictive.
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