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Bitcoin – why so many failed to understand. A guide for disbelievers! 

Here we go. Bitcoin is on the move. And yes, it is not only El Salvador. It is Japan, and also Cuba is going to meet Bitcoin. Because we have many “ShitCoins” and a DeFi market with Tokens for a greedy society, people believe there are better ways to do it.

The only reason is, they want to make money. 

Bitcoin is money itself, so it is not only a store of value because now you can use your assets by changing them into Bitcoin as money. For example, if you have turned the value of your physically stored gold into Bitcoins, you can pay with the value of the gold everywhere in the world without moving the gold and have hard times selling it. Do you get fed up with looking at your Mona Lisa? Sell it and put the money in Bitcoin. 

Because of the limitation, Bitcoin will rise. Oh yes, of course, it is going up and down. But it started from Dollar 465 up to 35000 Dollar in the basic in only five years. If you do now, in 5 years, your value is more than 120,000 Dollars at each Bitcoin. This is not a store of value; this a system to make your value profitable. 

The more you share Bitcoin with others and give access, the more value is created. Fiat money is not covered. Bitcoin money is covered by the money you brought into the system 1:1. There is no broker anymore raising fees other than transaction fees. Sooner or later, you can’t go back to fiat because the valuta is too high to change back. You will stay in Bitcoin. 

Bitcoin is an exchange item like you exchange some bread for some tomatoes with your neighbor because you forget to go to the market. The difference is everyone knows the total value. And knows the more is going in Bitcoin, the higher the output is in goods. This leads to the first steps to a Bitcoin economy. 

 

Now, what about the bold people saying:

– Bitcoin is not fast enough
Serious an average citizen waited for a transaction eight years ago two up to 3 days. Wow! And our economy did not die. Bitcoin has made the future-ready by accepting integration circuits like SegWit and Lightning. Or by nature like Taproot. This makes Bitcoin faster than MasterCard and Visa, and the whole banking system. Others do not implement things like that because coders haven’t got any idea and another reason centralism. A country on sovereignty does not need centralism in a payment process. No one does. Money laundering is not related to the system. Only to control freaks want to kill sovereignty.

 

– Bitcoin is not a currency 

People not educated in Bitcoin do not see one thing: You can accept any exchange item as your currency as you believe. The USA wants to do the same where they are coming from. They want to forbid other countries to do what El Salvador is doing. 

 

But they can’t deny their history. If Britain would not be allowed the Dollar,… 

On September 1, 1764, Parliament passed the Currency Act, effectively assuming control of the colonial currency system. The act prohibited the issue of any new bills and the reissue of existing currency. Parliament favored a “hard currency” system based on the pound sterling but was not inclined to regulate the colonial accounts. Instead, they simply abolished them. The colonies protested vehemently against this. They suffered a trade deficit with Great Britain, to begin with, and argued that the shortage of hard capital would further exacerbate the situation. Another provision of the Currency Act established what amounted to a “superior” Vice-admiralty court, at the call of Navel [sic] commanders who wished to assure that persons suspected of smuggling or other violations of the customs laws would receive a hearing favorable to the British, and not the colonial, interests.

Bitcoin is the same but based on deflation, and this is created by actual demand.

Fiat is created by demand artificial created and make people believe…

Bitcoin is Electronic Cash, and therefore a people baked currency 

 


Bitcoin is an environmental problem by wasting energy resources
China steel and aluminum manufacturing are more than Bitcoin ever will become. 

Banks use more than twice of the Bitcoin power 

Every industry creates Carbone more than Bitcoin ever will

There has never been an energy problem in the world. It is about energy management. 

Bitcoin isn’t a collectible, and it is a store of value with no real reason for that value other than it’s making people a lot of money.

Bitcoin is not a store of value. It is the securest place on earth to go with your weight which is killed by inflation. And the other is the purpose of sharing your value. Bitcoin sooner or later is not exchangeable anymore. Either it goes to 0 and becomes a direct payment system because of its created value from exchanging. Or it will go up to more than 100k, which then has more value than the Dollar in the world. The shareable thing which is unlimited is the backup of Bitcoins. You can deal with your weight and assets and use them as money for payments without restriction and no central control. That said, Bitcoin doesn’t follow an interest. All other follows interest. It is the decentralism not in technology but the usage. People want to use their savings on Bitcoin because they want to make more money. But this is only like a butterfly tree for investors. The real winning is not the business. It is the fortune of the people who are free from systems and bindings like Dollar. The problem with the Dollar industry is that the Dollar controls the wealth of the countries and has killed absolute sovereignty. A Bitcoin economy doesn’t need any DeFi markets nor AltCoins. Because the last-named are the reason why our economy is broken – inflation and endless printing of fiat. That what Altcoins provide. 

 

Bitcoin mining will be banned, and Bitcoin is dead!

Shutting down huge mining facilities just increases the time you get a block reward. This means you will not be rewarded every 10 minutes on a block, maybe any 20 minutes on a block. What happens after 2016 mined blocks the difficulty will be adjusted to the now small amount of miners. And it works well because the rest gets more Bitcoin!

But if it slows down, you can all start your laptops and increase the hash power. Just run the protocol to support that difficulty will be fixed at 2016 blocks. And then you will see the magic your laptop is becoming profitable again… If all mining farms gone, every laptop owner will be rewarded, and this is less energy than an ASIC miner. So no one can stop you from doing the mining.

This knowledge is written in stone for millions of people know how mining is working. Bitcoin is unconfiscable by hardware and software and you can’t take away the money factor. Since 2009 all this concerns exists and never stopped Bitcoin. 

 

Written by : Prof. (Dr.) h. c. Joerg Molt

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