Bitcoin und die Blockchain-Technologie wurden zahlreichen transformatorischen Versprechen zugeschrieben, doch viele dieser Behauptungen bleiben unerfüllt. Zu den Erwartungen, die nicht erfüllt wurden, gehören die Funktion als zuverlässiger Schutz gegen Inflation, das Bankieren der Unbankierten, sich als die härteste Geldform der Welt zu etablieren und einen disruptiven Status zu erreichen, vergleichbar mit dem iPhone oder dem Internet. Weitere unerfüllte Ziele sind die weit verbreitete Anerkennung als gesetzliches Zahlungsmittel, die Revolutionierung der Kunstmarkte, die Förderung des Wachstums erneuerbarer Energien und das Ende globaler Konflikte. Die Technologie hat auch nicht die beste Leistung aller Zeiten gezeigt, die Lieferkettenverfolgung verbessert oder die weltweite Hunger- und Armutssituation beseitigt.
Zusätzlich hat Bitcoin nicht geliefert, play-to-earn-Möglichkeiten in armen Regionen zu schaffen, das Umgehen zentraler Regierungen zu ermöglichen oder eine vollständige Zensurresistenz und sicherheitsgeschützte Eigentumsrechte zu gewährleisten. Es hat sich nicht vor Hackings geschützt, noch haben seine Nutzer allgemein reich gemacht oder es in einer postgesellschaftlichen Katastrophe zuverlässig funktioniert. Die Vision eines langfristigen, manipulationsfreien Wertespeichers mit vollständig öffentlichen Transaktionen bleibt unerfüllt, ebenso wie das Versprechen, die Finanzwelt durch Web3-Innovationen zu demokratisieren oder Vermögenswerte für kostengünstige globale Geldtransfers zu tokenisieren. Einige persönlichere Behauptungen, wie die Steigerung der romantischen Anziehungskraft oder das Eindrucken von Gleichaltrigen durch Investitionsgeschick, fehlen ebenfalls. In der Praxis hat die Technologie in Bereichen wie die weltweite Betrugserzeugung und die Geldwäsche deutliche Nutzen gezeigt.
But consider the proof of work involved. How can you dispute that?
Bitcoin is backed by the electricity required to mine it.
I’m converting my cryptocurrency to cash now.
We are still in the early stages. Very few people truly understand this.
You omitted one: the delusion index.
Bitcoin provides a precise numerical measure of the current state of greater fool greed and the extent of delusional misunderstanding about what constitutes an asset. My theory is that when reality sets in and Bitcoin crashes—whether this month or after our lifetimes—harsh truths will prevail.
Numerous crypto Twitter accounts have been revealed to originate from foreign countries, effectively supporting the Russian economy and indirectly fueling the war.
Bitcoin has enabled more accessible and private online gambling.
Bitcoin and blockchain have also been used for purchasing illegal drugs, distributing child exploitation material, and evading sanctions.
Bitcoin is no longer the best option for that purpose. There are now better alternatives in the cryptocurrency space for purchasing drugs online.
While fraud, grifting, and money laundering also occur with fiat currency, that doesn’t inherently prove Bitcoin’s superiority.
Bitcoin and blockchain have notably increased demand for Lamborghini rental and repossession services.
Bitcoin and blockchain have introduced a new asset class for Wall Street to profit from.
Friction is the key problem that Bitcoin and blockchain solve. It’s surprising how often people overlook this.
Owning an asset like real estate involves significant friction: insurance, tenants, maintenance, banks, deeds, evictions, property tax, escrow, and appraisals.
While cryptocurrency has its own challenges, the friction in traditional real estate investment is substantial.
Regardless of personal beliefs about crypto, its ability to reduce friction represents a major competitive advantage that the wider world must now consider.
You may choose to avoid cryptocurrency, but if the outcome is less friction for investing in valuable assets, then blockchain technology is worth embracing.
Just study a bit more and you’ll understand.
Bitcoin and blockchain have also been used to monetize child abuse.
Bitcoin offers a fast and efficient way to transfer funds internationally, such as paying a supplier in Bolivia by depositing cash into Bitcoin and providing the private key. The decentralized nature of the system also makes it simple to set up accounts under different names.
For transactions like shipping goods, you can verify that funds are available in a wallet before completing the delivery, then withdraw once the key is shared.
Additionally, Bitcoin allows for market influence through paid promotions without the legal restrictions that apply to regulated assets.
In cases where organizations, such as a mega church, need to obscure large sums of money, Bitcoin can be used to claim losses due to hacking or other issues.
These features make Bitcoin particularly useful for those involved in illegal activities, which represent an estimated annual economy of hundreds of billions to trillions of dollars.
As someone who has used it to move money and avoid taxes, I believe it’s performing well.
Since you can’t use it directly for purchases, you would need to convert it to fiat currency to buy things. At that point, you would be taxed. So you haven’t avoided taxes, only deferred them.
I gradually withdrew funds without triggering taxable events.
It’s also useful for illicit activities.
Cryptocurrency does not function as money.
What problems has Bitcoin or blockchain actually solved?
You should re-familiarize yourself with the difference between “to” and “too.”