The biggest shift I have seen in Bitcoin in the eleven years that I’ve been involved is the move from techies who are obsessed with tinkering to people who value the importance of the Bitcoin community. “don’t invest more than you are willing to lose”The Michael Saylors who are telling people to go bankrupt by selling their home, cars, or wives to buy bitcoin.
The macroeconomic analysts in this field (who mostly started appearing five or six year ago) often seem to miss one important point. Sure, Bitcoin is no longer just the experimental new project it was over a decade ago— but it You can also read about how to get in touch with us. Still fail
This Take is not able to cover all the things that can go wrong, but suffice it to say there are many. They range from excessive centralization to exaggerated decentralization. decentralization. (If —say— mining centralizes too much, Bitcoin can be regulated to death. If people cannot agree on one set of rules for consensus, the entire project may literally fall apart. We came close to this during the recent block size debates.
Bitcoin will overcome all of these challenges. The incentives for Bitcoin to succeed are strong, and —perhaps more importantly— smart and motivated people from around the world can help figure out solutions for whatever challenges Bitcoin may face.
In order to fix the problem, it is first necessary to acknowledge and understand what’s wrong. You won’t get there by selling your wife, house and car to just buy bitcoin.
The article below is an overview of the topic. Take. The opinions expressed by the authors are their own and not those of BTC Inc. or Bitcoin Magazine.
“This article is not financial advice.”
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Source: bitcoinmagazine.com
