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RE: Bitcoin Miners Are on a Path to Self-Destruction

in LeoFinance4 years ago (edited)

this is so wrong in every aspect. You need to compare bitcoin with the entire current monetary system and how many resources it takes to validate transaction between Banks and countries, businesses etc. If you sum all that up Bitcoin is going to be still better faster cheaper and most important trustless than any other type of ledhers we used to use.
Bitcoin didn't invent ledgers it evolve them to be more economic efficient than the old centralized systems this is where its value come from.
Even if some countries decide to ban bitcoin (which is not going to be the first time happening since I am invested into btc I have seen this already about 4 times) That is just going to open the door for the most underdeveloped countries to take it from there and adopt it. No one wants that, because it will level out eventually worlds GDP and that is bad for the first world countries which rely deeply to cheep workforce for imports.
If Usa Europe and China want to keep their place and economic status they need to embrace BTC faster than the rest of the world otherwise it is game over.
Their guns wont be able to stop them.
It isn't a money game.
It is a power game, and when power is at stake money and economics are a non issue.

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