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10 sats \ 8 replies \ @Undisciplined 30 Aug 2023 \ on: Does Bitcoin have any negative tradeoffs or is it just all positive? bitcoin
The main trade offs are that fiat currencies are widely accepted and cash works anonymously without electricity or network access.
There's a bit of a risk tradeoff with respect to gold (or other commodity moneys), because they have organic demand aside from their monetary value, whereas a superior digital money would send Bitcoin to zero.
I don't see this as a tradeoff. People prefer electronic money on the whole. That is going to happen regardless of bitcoin. More and more my perspective is that we already have CBDCs. Its called the dollar. If you use the banks, wire transfers, Visa, or Apply Pay you will be using whatever the state decides to use. Bitcoin is the escape hatch.
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It's still a tradeoff. You give up the ability to have that type of exchange by using Bitcoin. The question wasn't how significant the tradeoffs are.
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Fair
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Indeed. More people rejecting to use fiat in any form or shape, is closer to full adoption and freedom.
For more they still use fiat, they are sustaining it and also sustaining their own slavery.
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Agreed. I think we are making a similar point re electricity. I don’t think there is an analogue BTC?
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I've seen people occasionally speculate about how to do it, but I don't think a viable version is available yet. Eventually, it will have to be developed because there will always be demand for physical in-person transactions.
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Bribing a border guard at 3am with no phone signal? You are going to want an analogue proof of value; gold, diamonds etc.
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Not mention the boarder guard probably wants something that wasn't independently seen and verified by millions of other people.
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