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Jeanette Gower's avatar

Best description I have ever seen.

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AutismDad's avatar

I'm not opposed to Bitcoin, but it's fundamentally predicated on a stable, accessible electrical grid and an Internet where free exchange of basic communications are possible.

While the technical machinations of Bitcoin make it so transactions can be made, Bitcoin's utility disappears if there are rolling black outs or if the person you are transacting with screenshots the transactions and reports you to the authorities.

That's not to say it's without it's advantages, but if you look at the actions of governments around the world, they are other than creating global surveillance and censorship networks on the internet and seizing control of the power grid "in the name of fighting climate change."

If you look at geopolitical events, there's clear signs neither reliable power or a free internet will be absolute guarantees in the future.

Think about the recent blackout in Spain or the fibreoptic cables that were cut in the Baltic sea. Even in the War in Ukraine, a major offensive operation conducted by both sides is to attack internet and electrical infrastructure.

Moreover, if there is a nuclear war, which we are closer to now than we have in 4 generations, there will be neither reliable power or internet.

That's not to say Bitcoin is useless, it's just not the panacea to all the worlds problems.

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