Rachel Maddow missing the forrest for the trees \ stacker news ~bitcoin

Rachel Maddow is, in my opinion, completely missing the forest for the trees. There is no 'cryptocurrency', there is no 'crypto industry' there are no 'cryptos'... There is only Bitcoin.

Only Bitcoin competes in Proof-of-Work (absolutely mandatory) market cap, liquidity, security, and hardware + software support plus the Lightning network.

And of the PoW 'cryptos' that do exist... BCH, Litecoin, BSV, Doge and Monero...

Based on hashrate, price, adoption, security (hardware and software wallets) 'layers' like Lightning, regulatory acceptance (necessary long-term) and name-brand nothing else competes with Bitcoin. There is no second best, no-one wants the 'second-best' PoW cryptocurrency.

Cryptos from numbers "2-11" are proof of airtoken (with the exception of Doge) and # 11, higher on the list than BCH, Litecoin, BSV, and Monero... is the Pi-Coin.

Pi-Coin is generated from tapping on a phone once daily... and after you enter your email address you 'invite' 2 other 'tappers' underneath you who also tap daily (generating coins) who also invite more tappers "underneath them" and so on and so forth...

In short a pyramid scheme.

Putting all the 'cryptos' in the same basket, because 'crypto is a scam' and all 'beanie-babies' and 'greater fools' misses the point.

Bitcoin is a product of energy (cpu cycles plus electricity) and a way to store and transfer energy on the internet. Somewhere somehow that message about 'crypto' is being lost.

From the White Paper

The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.

51 sats \ 4 replies \ @kepford 12h

Rachel Maddow is a clown. She's a clown when she talks politics and bitcoin.

10 sats \ 3 replies \ @kepford 12h

I mean... most people that talk politics on TV are clowns. But she is especially bad.

0 sats \ 2 replies \ @028559d218 OP 12h

In my opinion it's a huge mistake not to take Bitcoin seriously... and she (or her producers, editors) are saying it's just all beanie-babies. Isn't that remarkable?

0 sats \ 1 reply \ @SimpleStacker 12h

She, and her producers, and her editors are literally stupid. Full stop. They have low IQ. They speak of matters of which they are completely ignorant.

30 sats \ 0 replies \ @028559d218 OP 12h

I can zap send and zap-receive sats all day... for almost zero fees. Sats to anyone anywhere in the world, basically instantly.

And all those 'sats' are a product of energy. It's digital energy... the digitization of capital on the internet. And they're like 'nah it's beanie babies' Really? It's remarkable.

I believe that 'weaker' money doesn't survive contact with 'better' money... and the logical conclusion is that even the 'naysayers' will be using Bitcoin one day.