Bitcoin started as a fun distributed systems experiment.
It mutated into a sort of global pyramid scheme that consumes >0.5% of the world's energy consumption to perform deliberately useless calculations.
Modern bitcoin isn't even about blockchain. Most people just put money in their exchange, click the exchange button, and watch the number go up and down. Never even touches the blockchain. It's all about speculation and convincing others to become the next layer in the pyramid of hodlers.
Modern Bitcoin isn't about tech or distributed systems or challenging the financial system (with $8 transaction fees that go to mining companies and exchange fees that skim every trade). It's been captured by the financial system and pumped as a speculative investment, all so financial institutions and giant mining operations can profit off of the frenzy.
It mutated into a sort of global pyramid scheme that consumes >0.5% of the world's energy consumption to perform deliberately useless calculations.
Modern bitcoin isn't even about blockchain. Most people just put money in their exchange, click the exchange button, and watch the number go up and down. Never even touches the blockchain. It's all about speculation and convincing others to become the next layer in the pyramid of hodlers.
Modern Bitcoin isn't about tech or distributed systems or challenging the financial system (with $8 transaction fees that go to mining companies and exchange fees that skim every trade). It's been captured by the financial system and pumped as a speculative investment, all so financial institutions and giant mining operations can profit off of the frenzy.