full image - Repost: Let be clear about what is Bitcoin (from Reddit.com, Let be clear about what is Bitcoin)
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I knew Bitcoin early, around 2015, the price was around 200$ but it was not important at this time, we used Bitcoin for the dark net and it was good, I mean, there was no moon boys saying hold because Bitcoin will make x100... Bitcoin was in fact an idea of freedom, a digital money for internet, by the people for the people, the creator was a cypherpunk fighting for a free society (you can see references on bitcointalk). In conception, Bitcoin is very close to gold and silver, an independent money out of government's hands. Government can make illegal gold or silver but they can't freeze your money by a click... that was the idea of Bitcoin, no third party. The idea was brilliant but it's a total failure. What people don't understand is that Bitcoin is not exactly a money, it's more exactly a program forming a network of transactions, there is 3 entity in the Bitcoin's program:the client (everyone who want to send or receive Bitcoin), the "node's operator" (executing the Bitcoin's program, he is connected to others node's operator, all nodes are the Bitcoin's network, a node's operator can simply relay transactions or doing mining operations for securing the network) and finally there is developers (they are making the changes on the Bitcoin's program).Bitcoin is not money and can't be because:Real money is independent of support (gold or silver coin is in your hand that's all, but Bitcoin permanently need electricity and Internet, meaning if you can't access electricity or internet, you can't use Bitcoin. Internet require electricity and both require bank's payment so you need bank to pay electricity and internet bill, there no sovereignty at all here. Tomorrow, your bank account can be freeze and you will be unable to pay the electricity and the internet bill so you will not be able to access Bitcoin...Real money is fungible (a 100$ bill have the same value to an other 100$ bill, because we don't know the origin of it, maybe a withdraw from atm or maybe from drug's deal, it's not important because it's untraceable. On Bitcoin, it's the opposite, all is public, traceable, so it's possible for governments to follow the history of a Bitcoin and determine if the Bitcoin is "clean" or not, and it's a big red flag, there is already a blacklist by OFAC and I think in some time, node's operator will be forced to apply these blacklist, and what we don't really understand about node's operator is they are exactly like banks, they proceed or reject transactions, like on Ethereum is around 50% censored. Meaning, one day, "your" Bitcoin will maybe be frozen and you will be unable to use it. For this, Monero is the way, because it's not public and it will be impossible to freeze any of them, it will be impossible to censor it. Bitcoin was a draft, Monero the achievement of the electronic cash system.Real money is a store of value for ever, not loosing 90% in 2 months or making x100 in 2 years, that's simply not a money, just an asset.Bitcoin is not a money but maybe the better investment of the world, I'm not against Bitcoin, for me it's an idea, achieved by Monero, a digital cash by the people for the people. But anyway, it's a tool, not money. GOLD, SILVER, MONERO is the way for a freedom society.
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