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0 sats \ 3 replies \ @cryptocoin 4 Feb 2023 \ parent \ on: Bitcoin's volatility as an extension of human psychology and measure of success bitcoin
media, governments and fudsters trying to kneecap adoption
Yet bitcoin persists. I find it entertaining, if nothing else, seeing how nearly every argument they come up with can be countered rationally.
  • Bitcoin mining takes too much energy?
    Truth: Bitcoin helps subsidize green/renewable energy, and elsewhere mitigates problems with flaring (or worse, venting) of waste gas. Bitcoin is a net gain.
  • Bitcoin is slow.
    Truth: Lightning is fast, and incredible cheap to use.
  • Bitcoin is volatile.
    Truth: Well, they got us on that one. Your $10 worth of bitcoin bought a a little over a month ago is worth $14 today. Who in this world wants that?
    But seriously, not everyone can (or wants to) stomach the opposite of the above happening (where bitcoin drops in value 40% in a month). They want to use bitcoin to pay their landlord or whatever, and do not want exposure to the exchange rate risk that comes from holding bitcoin.
    But there are solutions for that. Valet's LN wallet (by Anton Gushcha) which uses StableSats synthetic USD. Or Kollider's LN wallet. Or bitcoin can be swapped from bitcoin to Tether USD on Liquid network, for example.
    These are convenient and very low-cost methods to swap in to (and out of) fiat equivalents, for those who want (or need) to purchasing power protection for some (or all) of their savings.
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25 sats \ 1 reply \ @2minutebitcoin OP 6 Feb 2023
we think it's good that adoption isn't incredibly fast - and so far it has still been at a very fast, yet reasonable pace. This way it only attracts the smartest most independent thinkers first
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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie
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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie
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