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RE: Bitcoin Maxis Will Never Understand Hive

in LeoFinance2 years ago (edited)

I like what you usually write, it's usually inspiring, but I have to tell you that I find this article too superficial to try to be critical of Bitcoiners or try to compare similar technologies.
I do not consider myself TOXIC, although I am close to maximalism, I believe in digital scarcity and that is why I do not see any problem in the tendency to "accumulation" that you say that BITCOIN has.
Monetary elasticity is a controversial topic, in which a lot of understanding of how the market works is needed. Our problem in this regard is that we compare goods and assets with the dollar, of infinite supply and centralized issuance, with which the free market is hampered and thus, the "real" price of goods and services is manipulated by entities against the natural rules of free trade.
In an asset with an inelastic supply, changes in production levels necessarily give rise to price fluctuations. When economic output increases, sellers are forced to seek marginal buyers at lower prices, and when output declines, buyers seek marginal sellers at higher prices. This "inherent volatility" is nothing more than the market adjusting for variations in demand through the price system and does not prevent an asset from being used as money.
The maximalist Bitcoiner tries to see further, if we didn't compare everything based on the dollar, that inelasticity you're talking about shouldn't be a problem.

The current system, based on inflation and control by governments and central banks, is the problem that has to be solved and I assure you that in that sense, BITCOIN does it very, very well.

The fact that it has 13 years of history and only 2 major upgrades does not mean that the project is less "solid", after all, the gold standard has been living among us for much longer without causing any inflationary problem. It was the governments and states that began to cause it when they began to "manipulate" the weights and alloys, and therefore, the gold content for the same weight, that those coins had. Indeed a prelude to the current disastrous system.
On the other hand, we cannot compare BITCOIN with HIVE because what is tried to be solved in each of them is different.
Let me also tell you that, in my opinion, CBDCs are not going to be used for anything other than absolute control of your financial holdings, programmed money with the possibility of even having an expiration date.

Finally, the Lightning Network, Layer 2 built on Bitcoin, solves many of the handicaps that the Bitcoin Blockchain has. Over time, many more layers of functionality and use of the blockchain will be added, especially due to the latest upgrade "Taproot" and what you consider to be an "old 2009 Laptop" is like saying that everything we create today in day is made about an invention that has more than 40 years of history, Internet.

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