Le Bitcoin et la technologie de la blockchain ont été crédités de nombreuses promesses transformantes, mais beaucoup de ces affirmations restent non tenues. Parmi les aspirations qui n'ont pas vu le jour figurent l'offre d'un hedge fiable contre l'inflation, la banque des non-bancarisés, l'établissement comme la monnaie la plus dure du monde, et l'atteinte d'un statut disruptif comparable à l'iPhone ou à Internet. D'autres objectifs non réalisés incluent l'adoption généralisée en tant que monnaie légale, la révolution des marchés de l'art, la stimulation de la croissance des énergies renouvelables, et la fin des conflits mondiaux. La technologie n'a pas non plus atteint le statut d'actif le plus performant de tous les temps, amélioré le suivi de la chaîne d'approvisionnement, ni éradiqué la faim et la pauvreté dans le monde.
En outre, le Bitcoin n'a pas réussi à créer des opportunités de jeu pour gagner de l'argent dans les régions pauvres, à permettre le contournement des gouvernements centralisés, ou à garantir une résistance totale à la censure et une propriété imprenable. Il n'a pas prouvé qu'il était immunisé contre les piratages, ni enrichi universellement ses adoptants, ni fonctionné de manière fiable dans un scénario de déclin sociétal. La vision d'un stockage de valeur à long terme, exempt de manipulation, avec des transactions entièrement publiques reste non réalisée, tout comme la promesse de démocratiser la finance grâce à l'innovation web3 ou de tokeniser des actifs pour des transferts d'argent bon marché et mondiaux. Certains autres revendications personnelles, comme l'amélioration de l'attractivité romantique ou l'impression des pairs par l'habileté financière, manquent également de preuve. En pratique, la technologie a démontré une utilité significative dans des domaines tels que l'encouragement de la fraude à l'échelle mondiale et la facilitation du blanchiment d'argent.
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.”