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Originally Posted by Maximus122
If PEOPLE were able to make money in Africa mining Bitcoin they would already be doing it.
And they are...
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Originally Posted by Maximus122
It's a couple of massive players with huge investments in compute hardware that are making all of the money mining and selling the Bitcoin.
Captain obvious... it's a race to solve and equation, best man wins.
Quote:
Originally Posted by Maximus122
There's no point in owning Bitcoin when it is proof of work because it will never pay you anything.
you've completely MISSED the entire point of being insulated against fractionalization and confiscation of wealth...
Quote:
Originally Posted by Maximus122
If it was proof of stake at least it wouldn't be as bad for the environment and the holders of Bitcoin would get paid for verifying the transactions.
and therefore would be centralized and controllable, at which point the statement 'bitcoin is a ponzi scheme' becomes a truism... because the MAIN component to a 'Ponzi Scheme' is centralized control.
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Originally Posted by Maximus122
So in other words Bitcoin has already been corrupted.
what?
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Originally Posted by Maximus122
Eventually another coin will come along that people like more.
prove that... hypotheticals are a poor place to find facts and truths.
Quote:
Originally Posted by Maximus122
It's like at the beginning people pumped Gamestop, then AMC, then Bed Bath and Beyond, but the recreational was always one step behind, because they weren't putting their money into anything that had any value.
That is called, 'The Network Effect' and is NOT unique to BTC or in fact ALL other assets...
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it is very disappointing when people try and
straw man their way to a point of truth...