Can someone with solid encryption knowledge debunk/explain this?
If you had invested $100 in #bitcoin vs. all of these major companies...
Note: log scale, otherwise bitcoin would not fit on the chart
The average person understands nothing about any sort of technology or the most basic scientific facts.
If the kindergarten teacher had told them the Earth is flat, no amount of flying around the world would convince them otherwise.
They can’t imagine the possibility of “regular” people actually understanding those things much less questioning them.
Stop giving credit to “scientists” (in fact just anyone publishing papers) for the achievements of engineers.
That NASA engineers landed spacecraft on the Moon decades ago doesn’t mean NASA “scientists” today know what will happen to the climate im 10 years.
Same for “scientists” and doctors. Knowing how to treat you if you’re sick or lowering the chances if individuals catching it doesn’t mean being able to predict how the virus will affect a whole population.
Banks will end up being some of the largest holders of Bitcoin by doing the same thing they did to real estate:
- at some point they will accept Bitcoin as collateral.
- tons of people will use the raising Btc price to fuel unrealistic lifestyles with repeat loans
- in an economic bust Bitcoin will crash in USD terms.
- people will not be able to pay back loans and banks will keep the Bitcoin.
- Fed will bail out banks
Only use as collateral what you’re ok losing
2020 taught us that if the government vehemently denies it has plans for doing X, and people who think they have are conspiracy theorists— then you can be almost 100% sure they are planning to do X.
1 year or so ago you’d be called a conspiracy theorist if you said the government planned to lock people in their homes.
That was just the first example.
100% agree. He and Buffet have not even tried to understand Bitcoin and fail to realize their confident assertions will only tarnish their own reputations historically.
I only hope they live long enough to realize it.
I think the most under appreciated innovation in Bitcoin is that it *uses* the fact that it is very hard to do breaking upgrades to production protocols to achieve its goals.
That’s a first afaik, and as profound an innovation as using hard computational problems to create strong cryptography.
If you think upgrading protocols isn’t that hard I must remind you that, for example, we still use JPEG — even though formats 10x more efficient have been around for 20 years.
Stop following me or I’ll call the cops
Bitcoin Maston Instance