The Catalyst For A Banking Renaissancewww.zerohedge.com/crypto/catalyst-banking-renaissance
454 sats \ 14 comments \ @siggy47 9 May bitcoin
Nice article explaining bitcoin's role and countering common scaling fud.
Remember, Bitcoin’s entire value proposition as a global money depends on being neutral, censorship-resistant, accessible to everyone, and controlled by nobody. To have these properties, it’s essential the average person can run the full Bitcoin software.
It’s crucial to remember that Bitcoin is not merely a new way to make payments—like a competitor to PayPal or Venmo—or a new phone app. It’s something much more profound: a superior alternative to central banks.
Bitcoin provides a foundation for a new financial system that is decentralized, politically neutral, accessible to everyone, controlled by nobody, censorship-resistant, immutable, trustless, totally resistant to debasement, and not dependent on any third party.
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54 sats \ 2 replies \ @Coinsreporter 10 May
I will do my part. Remember, I've told about my intentions and interest of establishing a mining farm in India. I've finalised the location and now going to start some fencing and construction very soon.
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11 sats \ 1 reply \ @siggy47 OP 10 May
That is excellent news. You must keep us updated on your progress. I thought India had some tough laws regarding this stuff?
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54 sats \ 0 replies \ @Coinsreporter 10 May
I will come up with a detailed post about the progress within time.
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54 sats \ 0 replies \ @Satosora 9 May
Thats why the mining needs to be spread between everyone. So no one has a majority power.
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54 sats \ 3 replies \ @Undisciplined 9 May
It’s something much more profound: a superior alternative to central banks.
We already had something superior to central banks. What's profound about bitcoin, to me at least, is that it's a superior alternative to central banks that won't devolve into central banking.
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21 sats \ 2 replies \ @siggy47 OP 9 May
I think the last text I quoted kind of says that, but in many more words.
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54 sats \ 1 reply \ @Undisciplined 9 May
Indeed. I'm just pushing back against the implication that there weren't already superior alternatives to central banking.
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21 sats \ 0 replies \ @siggy47 OP 9 May
Good point. I don't know much about the author or his blog. I know he's popular. Every so often he posts a good bitcoin article.
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54 sats \ 5 replies \ @grayruby 9 May
Solid article that describes how scalability on Bitcoin will come via layers just like any other monetary system.
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50 sats \ 4 replies \ @siggy47 OP 9 May
It seems to be arguing against big blocks, which really isn't necessary to do anymore. That's unless the author thinks Ver's book warrants a response.
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104 sats \ 3 replies \ @kepford 9 May
It is clear that bitcoin is a bottom up not top down movement. At least it is to me. The big blockers didn't believe this.
I'm not saying elites don't hodl. I think may do. But few talk about it. I think we are sadly enter the end of the US led phase of bitcoin adoption. It seems like the US is going to cede its position to people that deserve it.
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105 sats \ 2 replies \ @siggy47 OP 9 May
Maybe that's as it should be. Led progress and adoption flourish overseas, and the US will come on board when it has no choice.
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104 sats \ 0 replies \ @kepford 9 May
Lately... I'm feeling like. Yeah, American's don't deserve bitcoin. If you don't get it after the last 5 years... I dunno what it will take for you to see the need. Poverty I guess.
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104 sats \ 0 replies \ @kepford 9 May
Kinda the vibes I've been feeling lately. Now, the nice thing is the plebs here can still opt out and hodl. I'm not a Sovereign Individual fan boy but that book is pretty accurate directionally. And that's saying something.
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