@Pakoon said in I'm now a bitcoin consultant:
Sell sell sell!
Bloomberg - Are you a robot?
The sheer amount of energy needed to mine Bitcoin and the prospect that governments will create more obstacles for the largest cryptocurrency point to the token losing “most of its value over time,” BCA Research Inc. said.
The expense and slowness of Bitcoin transactions make it “unsuitable as a medium of exchange,” BCA Research Chief Global Strategist Peter Berezin wrote in the report released Friday.
They are definitely right on the latter point and possibly the earlier but I’ve been reading this stuff myself since 2017 and it’s been going on since 2010.
Ofir Beigel
Bitcoin Obituaries - "Bitcoin is Dead" Declared 400+ Times
Until today "Bitcoin is dead" was declared more than 350 times. This is the official source for all Bitcoin obituaries since 2010.
The sad irony is that it doesn’t need to be so inefficient. Satoshi caved to pressure in the early days and added a block cap that limited the transaction throughput. It was never intended to be permanent but the project got hijacked. If it were truly uncapped then blocksizes could be up to many many megabytes, even gigabytes, (it’s been demonstrated on testnetworks and spinoff chains) and the cost of electricity would be amortized over tens or hundreds of thousands of transactions with transactions being processed quickly.
Anyway, it is what is and not what it should have been so, yeah, maybe Bitcoin (BTC - the original chain) will run afoul of regulators and it definitely won’t become a common medium of exchange.