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Huge BTC event spreading all over the internet

On 29 May 2011 the New York Times wrote their first piece about Bitcoin. They state "But this abstract gold may not survive what looks like a bubble." Bitcoin was priced at $8.60.

Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023

The best is yet to come: October, November and December have historically been the best months for Bitcoin.

What was the biggest crypto headline for september?

Which stablecoin is the most stable? An analysis of past and present de-pegs and some questions for the future.

What does the legality of cryptocurrency look like in U.S. states?

After the recent ETH Futures ETF approval there are another 8 ETH Future ETFs that could get immediate approval and launch on monday. All boosting the chances of a Bitcoin Spot ETF much more…

Accumulation opportunity looms for BTC; Time to ride the Bitcoin train?

Where are Sheldon Evans, JRNY Crypto and all the other „Cryptoinfluencers“?

People Like SBF (FTX), Do Kwon (Terra Luna) & Alex Mashinsky (Celsius) Are The Reason Why People Prefer To Stick To BTC & ETH

Outdated Technology Argument

Since i bought hardware wallet, i sleep so much more peacefully at night

Crypto Sunday Summary - SEC, ETH, ETFs, BTC and more - 01 Oct 23

What are some negatives about Monero?

FTX Exploiter Transfers Out Over $17 Million Worth of Ethereum

Chat GPT vs Google Bard, what AI makes the best gains on a 10K USD portfolio first month update

Are you ready for the demand shock of Bitcoin?

In May 2011 the New York Times wrote their first piece about Bitcoin. They comment "But this abstract gold may not survive what looks like a bubble." Bitcoin was priced at $8.60.

In 2014 I bought a PC using BTC...

Congress Set to Avert Government Shutdown

People Like SBF (FTX), Do Kwon (Terra Luna) & Alex Mashinsky (Celsius) Are The Reason Why People Prefer To Stick To BTC & ETH

One of the earliest to realize what BTC actually stands for: Already in 2012 the UK Telegraph said “Bitcoin is the libertarians dream and a governments nightmare“.

Crypto Help needed, please advise!

BTC never arrived

Bitcoin Layer 2 Solution Stacks (STX) Brings Decentralized Applications And Smart-Contracts To Bitcoin

Technical details I'm missing

Bitcoin Faucet Which Gave Away 19700 BTC For Free

r/BitcoinSee Post

Bought my first lot of BTC

Random Crypto stuff or talking points or ideas.All just my opinion, not news and not NFA

r/BitcoinSee Post

Orange pill me - honest sceptic, and long time lurker, looking for persuasion.

r/BitcoinSee Post

Only Watch BTC Wallet For Android

After the recent ETH Futures ETF approval there are another 8 ETH Future ETFs that could get immediate approval and launch on monday from the SEC. All boosting the chances of a Bitcoin Spot ETF much more.

r/BitcoinSee Post

The roots of Bitcoin need to go deep before the asset starts producing greater returns. The roots of BTC need to go deep into the financial system. Everyone is too focused on the price.

The roots of Bitcoin/crypto need to go deep before the asset starts producing greater return. The roots of BTC and crypto need to go deep into the financial system. Everyone is too focused on the price.

r/BitcoinSee Post

Full Interview with Rick from Crypto Cloaks

Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K

r/BitcoinSee Post

create a new custom clothing brand, please help

r/BitcoinSee Post

There are less than 1.5M BTC left to mine

US Dollar (DXY) Reaches One-Year Peak, but Michael Saylor Sees Bitcoin (BTC) as 'Lifeline'

r/BitcoinSee Post

Why is the mempool clearing?

r/BitcoinSee Post

What % of your Net Worth do you have in BTC?

r/BitcoinSee Post

The Top 8 Rarest Bitcoin

Why Bitcoin Interoperability Could Destroy Ethereum

Bitcoin Miner Marathon Digital Confirms Mining Invalid BTC Block Due to a Bug

r/BitcoinSee Post

REQUEST: Flair - Can we make it mandatory for posts?

Short-term holders are back in 83% of their total holdings being in unrealized losses right now, a very similar level to all previous local bottoms.

On-chain analysis of Bitcoin - 59% of holders in profits

r/BitcoinSee Post

Help with btc transfer address

Crypto Market Analysis - September 29th 2023

Crypto Market Update - September 29th 2023

r/BitcoinSee Post

Everyone that has at least 1 BTC should be running a full node

While MicroStrategy is indeed holding its BTC at a roughly $520M unrealized losses, their strategy clearly shows how even after buying at the top you can be successful.

r/BitcoinSee Post

What are YOU doing to support BTC network?

Is safepatuli.com a scammer site or legit?

r/BitcoinSee Post

Bitcoin is not a Ponzi.

r/BitcoinSee Post

Unanswered Futures Questions

r/BitcoinSee Post

Life sucks

r/BitcoinSee Post

BTC weight

r/CryptoMoonShotsSee Post

Bitcoin BSC | BEP-20 | Audited And Safe | Realistic Roadmap | Stake To Earn | Daily Rewards To Stakers | A Chance To Buy 1 Bitcoin At 0.99 | Presale Is Filling Fast | Launching Soon | Big Hype On Social Media

r/BitcoinSee Post

Stay Focused: BTC Supply Owned by Long-Term Holders Hits New All-Time High

r/BitcoinSee Post

Hellip mi plizz?

r/CryptoCurrencySee Post

List of apps/wallets/CEXs where free cryptocurrencies can be earned

BitGo CEO Warns Bitcoin (BTC) Could One Day Be Replaced by Something ‘Materially Better’

A really good analyst for BTC and he present other project and blockchain

r/BitcoinSee Post

This whole SEC/Gary G denying the Spot ETF is clearly a big scripted play. One day there will be an Ice Capades show called 'Gary the Hero Saving US All from the big bad BTC Spot ETF On ICE!'.

r/BitcoinSee Post

Planet is lunching Gamma/BTC Lp soon

r/BitcoinSee Post

Bitcoin (BTC) Miner Marathon (MARA) Confirms Mining Invalid BTC Block Due to a Bug in Experiment

r/BitcoinSee Post

I maybe poor but I feel rich with BTC

Biggest bullrun ever scene (intentional word choice because this bitch is gonna be a spectacle) and the greatest % gains we’ll ever see again in any individual bullrun…Here me out.

Gary Gensler gets grilled multiple times in court. Funny and sad at the same time.

r/CryptoCurrencySee Post

3 reasons why Bitcoin miners are selling BTC — and why it’s not capitulation

r/BitcoinSee Post

BUYING BTC COINS IN HUGE QUANTITY

r/CryptoMarketsSee Post

Why do you use DEX ?

r/CryptoCurrencySee Post

Venmo Making it Even Worse for Crypto Transactions

r/BitcoinSee Post

Market Crisis- How will BTC react?

r/BitcoinSee Post

DCA or everything now with $10,000

Bitcoin BSC | BEP-20 | Audited And Safe | Realistic Roadmap | Stake To Earn | Daily Rewards To Stakers | A Chance To Buy 1 Bitcoin At 0.99 | Presale Is Filling Fast | Launching Soon | Lots Of Hype Going

r/BitcoinSee Post

[EU] Where to Buy BTC now? Since Binance shut down Eur payments

BTC20 | ERC-20 | Imagine You'd Bought Bitcoin At 1$ | Let’s Get Back Into Bitcoin | Presale Is Almost Filled | Launching This Week | 1$ Only | Last Chance

r/BitcoinSee Post

Cash App - Direct Deposit Issue

Onchain analysis of Bitcoin

r/BitcoinSee Post

would SEC be sued if BTC ETF doesn't approve in timely matter?

Valkyrie Investments first to offer ether futures through ETF[Serious]

The highest fiat trading volume on Binance is by the Turkish Lira, a collapsing currency. In the right countries Crypto has already become an alternative.

Why investors are taking bitcoin off exchanges

Gary Gensler gets grillen. Funny to watch

r/BitcoinSee Post

Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K!

Top 1% of Bitcoin Addresses Hold an Incredible Number of BTC: Details

Most probably another SCAM

r/BitcoinSee Post

Cheapest way to buy buy bitcoin.

I’ve allocated a small amount of BTC to CDC crypto earn, does anyone have experience with it?

r/BitcoinSee Post

1 Million or 1 BTC ?

Bitcoin on the Verge of a Massive Move, But Whic Way? (BTC Price Analysis)

r/BitcoinSee Post

Do you all buy BTC just to wait for the price to rise? Will it be for sale? At what price is it sold?

r/BitcoinSee Post

Getting starting in BTC Mining

r/BitcoinSee Post

US and global debt

Mentions

Ok. They’re required to prove assets on the blockchain. Read the proposed listings. So unless you think they can manipulate that somehow……… well then BTC is worthless, no?

Mentions:#BTC

Learn and move on. They may come back but certainty not a given. Not financial advice and depending on your financial situation. I would put it in the blue chip coins like BTC and ETH if you want to stay invested in crypto and/or just buy the stock market via a low cost etf.

Mentions:#BTC#ETH

>At first, people used Bitcoins in its plural form, as things would usually cost more than a fraction of one BTC. And now we are considering counting in Satoshis. The old volumes that we talk about in these articles, thousands of coins, is just wild!

Mentions:#BTC

It's a bit concerning, the last time BTC died was in april, normally it happens on a regular basis 😅 What does it mean? Are we waiting for a big dump or is BTC in zombie mode and the media sites don't want to declare BTC dead anymore lol

Mentions:#BTC

My BTC said she didn’t like me seeing other tokens

Mentions:#BTC

I love how our use of language has changed. At first, people used Bitcoin\*\*s\*\* in its plural form, as things would usually cost more than a fraction of one BTC.

Mentions:#BTC

Back then I doubt anyone ever thought we would hit $100 much less tens of thousands of dollars per BTC. We've continued to prove them wrong

Mentions:#BTC

BTC - Satoshis ETH - Wei Moons - Dust What other cryptos have names for smaller denominations?

Mentions:#BTC#ETH

While the law requires the ETFs to actually hold the asset, I **guarantee** you that the big traders who make the rules and also mysteriously avoid punishments for not following them, will manipulate the **fuck** out of BTC via ETFs and fake purchases.

Mentions:#BTC

BTC - Satoshis ETH - Wei Moons - Dust What other cryptos have names for smaller denominations?

Mentions:#BTC#ETH

I would sell everything I own and live on the streets, thats how all in I would go for BTC sub 1$

Mentions:#BTC

I bought a Rubin sandwich and some sides for 0.25 BTC (25 USD at the time). I wanted to buy more BTC at the time but my now ex-wife got mad and insisted I was stupid for using money on this fake crap. I think the sandwich is funny my regret lies in being in a relationship with her and letting her convince me to spend money on her instead of investing in Bitcoin.

Mentions:#BTC

Depends on listings, if BTC price remains stable and we get no listings I believe we won't see $0.5 by EOY.

Mentions:#BTC

To be fair, almost nobody expected BTC to reach the value of today back then.

Mentions:#BTC

Think about it like this: even if you had 1.2BTC in bitcoin now, would it really be life changing? That's the price of a modest new car or some more disposable income. It's not allowing you to retire early or something. Take your win for what it was at the time.

Mentions:#BTC

So BTC has Satoshi, who does Moons have? Do we have a leader, if not who should we elect?

Mentions:#BTC

December was the worst month in history, yet BTC closed a green monthly candle. I expect this cycle to be different from others, with red candles for the next 3 months. Also the bullrun that everybody's waiting for after the halving will start later, because everyone is waiting for a bullrun

Mentions:#BTC

Depends at what time that is. As it’s most likely going to be when BTC and ETH are also pumping, then probably sell for fiat and wait for the next bear market and buy back the moons and some BTC and ETH.

Mentions:#BTC#ETH

What will you do if moon really pump hard? Like to $3-5. Hold, roll into BTC/ETH or sell for fiat?

Mentions:#BTC#ETH

Mainstream adoption hasn't even happened on planet Earth, let alone another planet. Bitcoin is at 7 TPS, pretty sure the aliens are laughing at us, oh and it takes insane energy consumption just to produce one BTC.

Mentions:#BTC

Not yet, I think we can still do a lot better in coming bull run. I don't want to be the BTC pizza guy and cash out too early!

Mentions:#BTC

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 3rd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > # Bitcoin, could it be wrong. "Are we the bad guys ?" > > ​ > > In this small write up, I am going to delve into con-arguments against Bitcoin. Bitcoin is the flagship of cryptocurrencies but there are a lot of criticism that could be leveraged against Bitcoin. First of all, let's delve into a small presentation of Bitcoin. > > # Bitcoin: An introduction. > > Bitcoin is the biggst cryptocurrency. It was created by a mysterious figure. The creation of Bitcoin is a strange and mysterious mystery. No one knows who created Bitcoin. > > Bitcoin was started as a way to circumvent traditional banking. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > Bitcoin Wikipedia > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: Bitcoin explained > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so bad. > > # Permissionless: A senseless destruction of world order. > > Bitcoin is a project existing in a very delicate world balanced by power structure. While we can be happy that the current top dog is the US (yes they are not perfect BUT they could be worse) we know that someone else could be on top. Despite that, we should strive to use the current US dominance to curb rogue states into the world order. > > The current war in Ukraine is a demonstration of the world order crumbling to maintain itself. I'd argue, the rise of cryptocurrencies may be a part of this crumbling. In fact, I'd go as far as to say that, Bitcoin replacing the US Dollar would usher a chaotic age of international relation. > > The world has shrank a lot since the rise of internet. The fact is that the stability of the world is much more precious than ever. Everyone can see what happens in any other country and how the supply chains which guarantee our comfort are of the utmost importance. YET, we are pushing forward a great disrupter of balance. > > Permissionless can help terrorists, permissionless can help crime. YES traditionnal banking is doing it already BUT I'd argue that the absence of regulator and watchdog to make the current system comply is not an argument in favor of a tech which will make regulation and surveillance harder. > > # Bitcoin: This MONEY Doesn't Work, This Money Doesn't WORK. > > Bitcoin is claiming to be a currency. A viable alternative to fiat money. But anyone with a neuron or two could realize that the fluctuation in the value of Bitcoin is crazy. Some pedentic nerd and bitcoin maximalist could argue that 1 BTC = 1 BTC BUT if you don't know how much you'll need to put food on the table then BTC is not working as a currency. Yes inflation is lowering the value of Fiat BUT fiat doesn't see wild swings of + or - 30 % in most economies. > > While not being really MONEY I'd argue that Bitcoin doesn't WORK. To work the economy needs money to move. 100$ could buy groceries then be used to pay the local brewery, the butcher and many more people before going back to a bank account. This movement has created economic vitality. Bitcoin, most of the time, is seen as an investment vehicle such as gold. I'd argue that these vehicle are not valuable for society since the freeze money in place. > > In a bank, your money is working. Instead of Bitcoin, people should be paid more by banks to put their money in investment portfolios since these provide the liquidity necessary to make the economy work. > > ​ > > # Bitcoin: A very big spending of energy. > > ​ > > Bitcoin is a project which is wasting a lot of ressource for something which is not making a lot of sense. While Bitcoin is using more and more green energy, I'd argue that it is still a big waste. Subsidies could prop up the green sector far better than the mining farms that go with windfarms. > > Seeing Bitcoin as one of the biggest leverage of the green sector is a non-sense. Optimization of the energy sector means that the variable production should allow to reduce the use of fossil energy. Not allow to waste energy in a senseless project. > > ​ > > # Conclusion: The harsh truth is, we may be the bad guys. > > Partaking in an economic sector which allows for a disruption of world order, which doesn't help the economy and which is wasting energy may not be beneficial. This is why Bitcoin should not be seen as a messiah of economic proportion but as something which should raise criticism and should be heavily regulated. > > Good luck in your investments. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16ww8px/monthly_optimists_discussion_october_2023/).

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Taproot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_taproot) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/16x7w9y/crypto_analyst_tips_bitcoin_btc_to_reach_40000_in/?sort=controversial). Doesn't work on mobile.

Mentions:#BTC

Satoshi selling 1M BTC

Mentions:#BTC

70% ETH, 20% BTC, 10% alts

Mentions:#ETH#BTC

Meh. I replaced the BTC same day, so no loss.

Mentions:#BTC

Imagine the sheer amount of reaction videos when 2021 finally ends and BTC breaks 100k lol

Mentions:#BTC

25% BTC, 25% ETH, the 50% all else.

Mentions:#BTC#ETH

Bear market made a BTC and ETH maxi

Mentions:#BTC#ETH

BTC. If it crashes to 10k, I'm buying like crazy.

Mentions:#BTC

About 50% BTC/ETH and 50% alts

Mentions:#BTC#ETH

Yes BTC under 10k.

Mentions:#BTC

Yes, BTC to $1, I’ll sell everything and buy, as would so many people though and then the price wouldn’t be $1 anymore lol

Mentions:#BTC

If i ware you i would sell everything and go all in on BTC then wait alt season to invest on alts.

Mentions:#BTC

What is your favorite coin and why is it BTC

Mentions:#BTC

whatever profits i make from alts throw into BTC. thats pretty much it. once i put into btc i dont touch it

Mentions:#BTC

roll profits into BTC to save it to live off of when im in my 60s in 30 years

Mentions:#BTC

Whatever you do, BTC will go down drastically after you enter the market

Mentions:#BTC

BTC $40k EOY 2023 is the new $100k EOY 2021.

Mentions:#BTC

Happy and Simple, Stress free. BTC&ETH is the way to go for the long hold 🤝

Mentions:#BTC#ETH

Reinvest more than 50% back into something, most likely BTC.

Mentions:#BTC

We've learned or lesson after that whole BTC 100k EOY debacle lol

Mentions:#BTC

Life is simple DCA gradually every month Only stick to BTC and ETH Get some Moons along the way

Mentions:#DCA#BTC#ETH

Nope, crypto maybe but haven’t so far, But what comes to BTC I think I’ll never look back at my decision to invest into BTC as something bad or something I wish to stop.

Mentions:#BTC

Of course they will. All the new people that will come back at ATH prices will want to make 100x profits that will be imposible from BTC so they will all flock to shitcoins again.

Mentions:#BTC

The bear markets always create BTC & ETH maxis 😭 the same has happened to me

Mentions:#BTC#ETH

After this bloody bear market, I realized that there is no better coin to buy than BTC and ETH

Mentions:#BTC#ETH

Depends on how much you have invested. Do I think BTC is going to go on some crazy 20000% run...no

Mentions:#BTC

to be honest i dont like it. i have alot of money tied into projects i no longer feel have a future but im already down so much on them theres no point in converting them into BTC.

Mentions:#BTC

If you invest 100k you will probably become one since i am expecting a 10x if you do it properly by riding the BTC>ETH>Alt seasons.

Mentions:#BTC#ETH

I also think BTC will go up to 69k again. sometime in the future years but it will!

Mentions:#BTC

Imo this bullrun is going to be one of the biggest with the BTC halving, BTC and ETH ETFs being approved. FOMO is going to be strong.

Mentions:#BTC#ETH

I try not to look at my portfolio because it hurts but I just hold BTC and moons, you get the risk and gains of the alts without the risk

Mentions:#BTC

Just around the time I believe the market will peak based on previous ATHs from the halving date. CryptoCon on X has a pretty detailed time based estimate for BTC prices

Mentions:#BTC

Tbh this bear feels like it has lasted forever. I guess there is a reason they call it "bears go into hibernation" however we are one day closer to the BTC halving, I hope we will see a pre-bull run before.

Mentions:#BTC

It’s folks like this excited for he early days of BTC that make me super happy they *did* hold - they deserve the gains by being involved and spreading the word when so few really were.

Mentions:#BTC

Thanks! That’s another $1 toward BTC

Mentions:#BTC

I bought BTC at $4K in the pandemic, at $30K and even at the ath of $69K. I think that as long as you DCA price won’t affect you that much

Mentions:#BTC#DCA

im not sure to be honest. the average person is out of money right now. the savings rate in america is like 3.5%. people are living check to check and barely hve 100$ of extra money after all the bills are paid. BTC had a MASSIVE run during covid for a host of reasons. Govt printing money out of thin air, people sitting at home out of work wanting to play the markets, elon and others MEMEing shitcoins like doge and shib, etc, etc. Now we are entering into a recession / possible depression I'm just not sure we will see the massive pumps like the past several decembers.

Mentions:#BTC

you vote by deciding which version of BTC you are gonna run and by which rules you agree too.

Mentions:#BTC

Dude! How was CR? Have you considered going to El Salvador to check out BTC being used as legal tender? 😄

Mentions:#CR#BTC

Historical charts have been good but can we find a relation with Moons? Will my moons go to 1 dollar if BTC goes up?

Mentions:#BTC

This assumes that the western central banks won't slash interest rates and print money like there is no tomorrow. Yes, if there is a global margin call, massive defaults everywhere, massive deflation will ensue because literally no one will have money including any money you think you have in the banks. History tells us that the central banks always choose to print rather than let the financial systems collapse. It will make the currency worthless which will make BTC soar. It is insurance against the devaluation. If they don't print then yes, everything will be worthless including BTC.

Mentions:#BTC

Spend BTC every week through bitrefill

Mentions:#BTC

How did people acquire BTC before? Were exchanges always a thing?

Mentions:#BTC

What you're talking about isn't a matter of legality. If a seller doesn't want to accept payment in Bitcoin they don't have to. It's not legal tender. A seller is legally obligated to accept payment in USD because it's legal tender. A seller could choose to accept any form of payment that they can come to an agreement with the buyer. USD, BTC, silver/gold, yachts, goats, etc. You can buy a house with BTC in any state or territory of the US, but the seller has to agree to accept BTC as payment.

Mentions:#BTC

#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 3rd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 3rd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > # Bitcoin, could it be wrong. "Are we the bad guys ?" > > ​ > > In this small write up, I am going to delve into con-arguments against Bitcoin. Bitcoin is the flagship of cryptocurrencies but there are a lot of criticism that could be leveraged against Bitcoin. First of all, let's delve into a small presentation of Bitcoin. > > # Bitcoin: An introduction. > > Bitcoin is the biggst cryptocurrency. It was created by a mysterious figure. The creation of Bitcoin is a strange and mysterious mystery. No one knows who created Bitcoin. > > Bitcoin was started as a way to circumvent traditional banking. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > Bitcoin Wikipedia > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: Bitcoin explained > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so bad. > > # Permissionless: A senseless destruction of world order. > > Bitcoin is a project existing in a very delicate world balanced by power structure. While we can be happy that the current top dog is the US (yes they are not perfect BUT they could be worse) we know that someone else could be on top. Despite that, we should strive to use the current US dominance to curb rogue states into the world order. > > The current war in Ukraine is a demonstration of the world order crumbling to maintain itself. I'd argue, the rise of cryptocurrencies may be a part of this crumbling. In fact, I'd go as far as to say that, Bitcoin replacing the US Dollar would usher a chaotic age of international relation. > > The world has shrank a lot since the rise of internet. The fact is that the stability of the world is much more precious than ever. Everyone can see what happens in any other country and how the supply chains which guarantee our comfort are of the utmost importance. YET, we are pushing forward a great disrupter of balance. > > Permissionless can help terrorists, permissionless can help crime. YES traditionnal banking is doing it already BUT I'd argue that the absence of regulator and watchdog to make the current system comply is not an argument in favor of a tech which will make regulation and surveillance harder. > > # Bitcoin: This MONEY Doesn't Work, This Money Doesn't WORK. > > Bitcoin is claiming to be a currency. A viable alternative to fiat money. But anyone with a neuron or two could realize that the fluctuation in the value of Bitcoin is crazy. Some pedentic nerd and bitcoin maximalist could argue that 1 BTC = 1 BTC BUT if you don't know how much you'll need to put food on the table then BTC is not working as a currency. Yes inflation is lowering the value of Fiat BUT fiat doesn't see wild swings of + or - 30 % in most economies. > > While not being really MONEY I'd argue that Bitcoin doesn't WORK. To work the economy needs money to move. 100$ could buy groceries then be used to pay the local brewery, the butcher and many more people before going back to a bank account. This movement has created economic vitality. Bitcoin, most of the time, is seen as an investment vehicle such as gold. I'd argue that these vehicle are not valuable for society since the freeze money in place. > > In a bank, your money is working. Instead of Bitcoin, people should be paid more by banks to put their money in investment portfolios since these provide the liquidity necessary to make the economy work. > > ​ > > # Bitcoin: A very big spending of energy. > > ​ > > Bitcoin is a project which is wasting a lot of ressource for something which is not making a lot of sense. While Bitcoin is using more and more green energy, I'd argue that it is still a big waste. Subsidies could prop up the green sector far better than the mining farms that go with windfarms. > > Seeing Bitcoin as one of the biggest leverage of the green sector is a non-sense. Optimization of the energy sector means that the variable production should allow to reduce the use of fossil energy. Not allow to waste energy in a senseless project. > > ​ > > # Conclusion: The harsh truth is, we may be the bad guys. > > Partaking in an economic sector which allows for a disruption of world order, which doesn't help the economy and which is wasting energy may not be beneficial. This is why Bitcoin should not be seen as a messiah of economic proportion but as something which should raise criticism and should be heavily regulated. > > Good luck in your investments. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16ww8px/monthly_optimists_discussion_october_2023/).

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Mentions:#BTC

Spot ETFs for both BTC & ETH is going to be bonkers if both pass in 2024

Mentions:#BTC#ETH

Well I'm sure hackers wouldn't want to steal my 0.00006 BTC

Mentions:#BTC

The best BTC chart video ever made

Mentions:#BTC

I spent BTC on food in 2011 in Room77, many a cheeseburger at 4BTC each was consumed.

Mentions:#BTC

I think we will see something big following this cycle, I don't think the next bear will be your avg bear market, BTC got to much going for from P2p to negative carbon emissions, and being esg designated .The green aspect of BTC mining is gonna be huge.

Mentions:#BTC

#Bitcoin Con-Arguments Below is an argument written by CreepToeCurrentSea which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > Bitcoin is a peer-to-peer digital currency that can be transferred via the bitcoin network. Bitcoin transactions are cryptographically verified by network nodes and recorded in a public distributed ledger known as a blockchain. The cryptocurrency was created in 2008 by an unknown individual or group of individuals using the alias Satoshi Nakamoto. ([1](https://bitcoin.org/bitcoin.pdf)) > > # CONs > > **Early Buyers have the Higher Ground.** > > * Those who bought BTC in it's early years have a great advantage over the recent ones. One thing is that they won't have to worry much about it's price dropping now since they're still much likely in the green in terms of percentage gains. Most of these early investors are also capable of manipulating the market via wash trades not giving the true traded volume within the market and thus deceiving most novice traders/investors into believing fake signals ([2](https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe), [3](https://www.marketwatch.com/story/us-regulators-demand-trading-data-from-bitcoin-exchanges-in-manipulation-probe-2018-06-08)). There is even a possibility that Satoshi Nakamoto himself/herself/themselves will suddenly access the wallet he/she/they own/s and proceed to sell the large amount of BTC they have which would greatly cause a crash in Bitcoin's price. > > **Attracts Illegal Transactions and Criminal Activities** > > * Bitcoin's innate trait of being publicly available and pseudonymous not only attracts those who seek independence but it also attracts those engage in illicit activities and perform illegal transactions. This is one of the downsides of giving back the power of choice to people, not all of them will do the morally right thing to do and as a result, economist, lawyers, and even countries will label Bitcoin as just another medium for buying/selling illegal goods/services. ([5](https://web.archive.org/web/20140325214514/http://www.bloombergview.com/articles/2013-08-08/did-the-sec-just-validate-bitcoin-no-), [6](https://www.economist.com/finance-and-economics/2012/09/29/monetarists-anonymous), [7](https://www.theguardian.com/world/2013/mar/22/silk-road-online-drug-marketplace), [8](https://www.cnbc.com/2018/07/09/nobel-prize-winning-economist-joseph-stiglitz-criticizes-bitcoin.html), [9](https://www.fnlondon.com/articles/stiglitz-roubini-and-rogoff-lead-joint-attack-on-bitcoin-20180709)) > > **It still Affects the Environment** > > * Bitcoin accounts 0.1% of the world's greenhouse gas emissions this year. The waste from it's parts also affect the environment as it's equipment only last an average of 1.3 years, especially, ASICS that aren't really reusable after their expected wear and tear. Although efforts have been made to address this energy and waste problem such as using green energy for Bitcoin mining, there is still a need to further improve this so as to avoid future problems in the environment ([10](https://www.theguardian.com/technology/2021/sep/17/waste-from-one-bitcoin-transaction-like-binning-two-iphones), [11](https://www.bbc.com/news/technology-58572385), [12](https://digiconomist.net/bitcoin-electronic-waste-monitor/), [13](https://www.business-standard.com/article/international/going-green-how-to-ditch-fossil-fuels-powering-the-bitcoin-network-122042100219_1.html), [14](https://www.jbs.cam.ac.uk/insight/2022/a-deep-dive-into-bitcoins-environmental-impact/), [15](https://ieeexplore.ieee.org/document/9385063)). Regardless with how small its effects are compared to other industries, it still should be a unified act to preserve the environment for as long as humanly possible for the future of humans and the world itself. > > **The Requirement of Being Responsible and Disciplined** > > * The constant triple-checking of addresses making sure that it's yours and not some dead end address or the fact that you need to keep your passphrase safe physically and never keep them in any device connected to the internet as to avoid any possible hacks/scams. The decentralization that Bitcoin gives you the freedom to finally be your own bank, but it comes at a cost. You need to be responsible and disciplined enough because unlike traditional banks, being your own bank doesn't give you any protection or safety nets like FDIC (Federal Deposit Insurance Corporation or any other deposit insurance corporation) when things go south. > > *Sources:* > > [*https://bitcoin.org/bitcoin.pdf*](https://bitcoin.org/bitcoin.pdf) > > [*https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe*](https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe) > > [*https://www.marketwatch.com/story/us-regulators-demand-trading-data-from-bitcoin-exchanges-in-manipulation-probe-2018-06-08*](https://www.marketwatch.com/story/us-regulators-demand-trading-data-from-bitcoin-exchanges-in-manipulation-probe-2018-06-08) > > [*https://web.archive.org/web/20140325214514/http://www.bloombergview.com/articles/2013-08-08/did-the-sec-just-validate-bitcoin-no-*](https://web.archive.org/web/20140325214514/http://www.bloombergview.com/articles/2013-08-08/did-the-sec-just-validate-bitcoin-no-) > > [*https://www.economist.com/finance-and-economics/2012/09/29/monetarists-anonymous*](https://www.economist.com/finance-and-economics/2012/09/29/monetarists-anonymous) > > [*https://www.theguardian.com/world/2013/mar/22/silk-road-online-drug-marketplace*](https://www.theguardian.com/world/2013/mar/22/silk-road-online-drug-marketplace) > > [*https://www.cnbc.com/2018/07/09/nobel-prize-winning-economist-joseph-stiglitz-criticizes-bitcoin.html*](https://www.cnbc.com/2018/07/09/nobel-prize-winning-economist-joseph-stiglitz-criticizes-bitcoin.html) > > [*https://www.fnlondon.com/articles/stiglitz-roubini-and-rogoff-lead-joint-attack-on-bitcoin-20180709*](https://www.fnlondon.com/articles/stiglitz-roubini-and-rogoff-lead-joint-attack-on-bitcoin-20180709) > > [*https://www.theguardian.com/technology/2021/sep/17/waste-from-one-bitcoin-transaction-like-binning-two-iphones*](https://www.theguardian.com/technology/2021/sep/17/waste-from-one-bitcoin-transaction-like-binning-two-iphones) > > [*https://www.bbc.com/news/technology-58572385*](https://www.bbc.com/news/technology-58572385) > > [*https://digiconomist.net/bitcoin-electronic-waste-monitor/*](https://digiconomist.net/bitcoin-electronic-waste-monitor/) > > [*https://www.business-standard.com/article/international/going-green-how-to-ditch-fossil-fuels-powering-the-bitcoin-network-122042100219\_1.html*](https://www.business-standard.com/article/international/going-green-how-to-ditch-fossil-fuels-powering-the-bitcoin-network-122042100219_1.html) > > [*https://www.jbs.cam.ac.uk/insight/2022/a-deep-dive-into-bitcoins-environmental-impact/*](https://www.jbs.cam.ac.uk/insight/2022/a-deep-dive-into-bitcoins-environmental-impact/) > > [*https://ieeexplore.ieee.org/document/9385063*](https://ieeexplore.ieee.org/document/9385063) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16ww8px/monthly_optimists_discussion_october_2023/).

Mentions:#BTC

* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Taproot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_taproot) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/16x6hcm/the_best_is_yet_to_come_october_november_and/?sort=controversial). Doesn't work on mobile.

Mentions:#BTC

BTC mining is a distributed consensus activity. If you had the wrong full node data and attempted to push transactions to the rest of the network, the verification math wouldn’t add up and it would be rejected. The trust lives on in the network and having the majority agree, not any one node.

Mentions:#BTC

I bought a book from Overture for 1.5 BTC many moons ago. I can’t find the book now.

Mentions:#BTC

I like lump sum- BTC is a long term position for me. So I would buy lump sum and then just keep dca my normal every other week… But thats me

Mentions:#BTC

I’m at around 50%, in net worth as in every I own. including my car, and personal belongings. dipped my toes in at 5% like 5 years ago and recently decided to convert all my savings to BTC and I just became convinced it was the best money available. Stocks aren’t looking hot rn imo but I’m considering putting some towards a commodities fund. If I had enough to buy a house it obviously be a lower ratio but I’m a zoomer…hardly have enough to buy a car all cash rn.

Mentions:#BTC

I’m assuming lots of people are going to be disappointed. Everyone is thinking last 3 months are going to be bullish for BTC and market always works opposite to general sentiment. Indicators are trash tbh.

Mentions:#BTC

Expect the unexpected. BTC might pull an uno reverse. 🔄

Mentions:#BTC

Expect the unexpected. BTC might pull an uno reverse. 🔄

Mentions:#BTC

I constantly do it because I am paid in BTC, and I regret it every time

Mentions:#BTC

DCA day is the best day of the week. I picked up some BTC and ETH yesterday

Mentions:#DCA#BTC#ETH
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