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5 sats \ 2 replies \ @KingZing 27 Jun 2022 \ on: Do you know that podcastindex utilizes a shitcoin for building postcasting 2.0? bitcoin
I believe eventually there will be more blockchain that are tailor made for specific use case. Be it the emission or level of decentralisation/transaction speede etc.
But this doesnt hurt Bitcoin, those tokens are poker chips. Bitcoin is money and it will be used as such across all parts of life.
But this doesn't hurt Bitcoin <-- I'm not sure this is a safe statement. As we are currently seeing, unlicensed shitcoin casinos can definitely hurt Bitcoin. Currently for example these over-leveraged web3 companies are dumping their BTC on the market bringing price down and also driving hash rate down. One could argue that they were the ones that took the price high in the first place, but I'd rather just have slow steady growth of bitcoin adoption and price vs fiat than a bunch of scam pumps. Anyway bit of a rant... I just think that being too lenient on shitcoinery is not entirely risk free.reply
I won't disagree completely, but at the end bitcoin is just another asset that will be impacted by financial instruments and macro.
Sometimes I see bitcoin podcasters saying it let us opt-ed out of fiat system, which is impossible to ever happen.
I don't see bitcoin can ever get rid of volatility, and that means nations/firms will always have a hedge/tool for arbitrage. Saylors and miners are all leveraged players, these types of play will only get larger with adoption imo.
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