107 sats \ 4 replies \ @poe7645 1 Jul 2023 \ on: What’s the most overrated/underrated aspect of Bitcoin? bitcoin
Most overrated is exchange rate for fiat.
Most underrated is... Only 21 million.
Verifiable. Self custody. Transportability. POW. Issuance. Immutability. Consensus. Global language and communication of value. Rules without rulers. FOSS. Empowering individuals.
I'm missing much more. But the price is definitely the most overrated IMO. At least in the short term. 1 sat is 1 sat.
Ah, so that's what the lightning bolt does... Enjoy!
reply
I agree that price overrated, but I wouldn’t call the “21 million” necessarily underrated. That’s one of the very first things people learn about BTC, in my experience
reply
Underrated doesn't mean unknown. The consequences of a truly limited money supply are so numerous that you can keep pondering them long after you mostly get it. It seems like most of the articles in Bitcoin Magazine are people exploring different aspects of the 21 million limit.
reply
This more what I meant. And I was trying to keep it a little short because each one of those things branches into a seemingly innumerable amount of other amazing thought experiments. You can hear 21 million but still not conceptualize how it is enforced through mining and the nodes enforcing the rules. 21 million didn't really "click" for me right away because I didn't necessarily understand yet that it was, actually true.
And then if it is indeed real... What that means in application. Bitcoin itself as an idea is still is one of the most underrated things about Bitcoin. Let alone the amazing ways in which it functions.
reply