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Old 20-11-2021, 02:55 AM
Rokazulu Rokazulu is offline
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Join Date: Jun 2016
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The story of Satoshi Nakamoto is interesting. We already know the identity of him. Bitcoin has been kept artificially at a lower block size, thus the fork into two now three separate coins. Only one of them follows the protocol outlined by the white paper. The others, simply profit off the higher transaction fees which results in a slower more expensive network.

Of course, in my estimation, that won't matter for a very long time. People will still make quite a bit of money if they invest in Bitcoin or whatever currency they feel will go up. Because it is all in a speculation phase right now. Not nearly enough organizations accept Bitcoin, yet people know that one day there will be a reckoning, and they are preparing for it.

Crypto will pick up the pieces where central banks have fallen. Putting them out of the way will certainly create a more efficient currency system that does not require a middle man and does not have any inflation. It will allow a great deal of abundance for many people.

The idea that it is energy inefficient won't have any effect on its expansion. People will simply use their crypto wealth to provide them with any energy that they need to continue mining, anyway they can. Both unfortunate and fortunate.

This is only an intermediary step though. There is also the possibility of going back to a type of gold/silver standard alongside crypto, but of course it all will be phased out for something more... well, human in the near-distant future.
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