It has its fans and niche uses, but I think it has too many problems to be viable as a real currently. It’s volatile, is prone to hacks, lacks consumer protection, doesn’t scale well, and has a huge carbon footprint. If the global banking system had things like gas wars and a “possession is ownership” philosophy then society would collapse.
Yeah like isn’t there a guy sitting on millions and millions of dollars but he forgot his password and only has one attempt left before his account is wiped? Or another that lost his HDD with the details etc. I think it’s pretty stupid to invest in something with such little security or recovery.
Periods of high transaction volume cause transaction fees to skyrocket. If there’s a rush to buy something, then transaction fees will easily go 10x for an hour or so. It’s like if Taylor Swift tickets went on sale, then the entire global economy stopped until they were sold out.
It has its fans and niche uses, but I think it has too many problems to be viable as a real currently. It’s volatile, is prone to hacks, lacks consumer protection, doesn’t scale well, and has a huge carbon footprint. If the global banking system had things like gas wars and a “possession is ownership” philosophy then society would collapse.
Yeah like isn’t there a guy sitting on millions and millions of dollars but he forgot his password and only has one attempt left before his account is wiped? Or another that lost his HDD with the details etc. I think it’s pretty stupid to invest in something with such little security or recovery.
What are gas wars here?
Periods of high transaction volume cause transaction fees to skyrocket. If there’s a rush to buy something, then transaction fees will easily go 10x for an hour or so. It’s like if Taylor Swift tickets went on sale, then the entire global economy stopped until they were sold out.