Some poverty country, I think Gambia , adopted Safemoon as their national currency too.
Dumb af lol, they lose 10% each transaction of safemoon and bitcoin has big fees . This ust a stepping stone until a more effective currency emerges.
That being said i own a few bitcoin and billions of safemoon so w/e

There's second layer alternative to Bitcoin, there is the "lightning network" you can google the strike app the guy (Jack Mallers) that build this is the guy that convinced El Salvador to adopt Bitcoin as a legal tender. There is also Liquid Network as a second layer Bitcoin solution, build by top of the line guys and Adam Back which was mentioned IN the Bitcoin whitepaper. It's a fast moving area but there is already solutions. All other shitcoins are noise yes you can trade or speculate on them to get rich but saying that anything else will replace Bitcoin is just ignorant. If you're really serious about crypto please do read on lightning network & liquid.

good. if anything good can come out of inflation its a major shot to the profits banks make on the existing loans they've handed out. of course they'll hand out more and more to riskier and riskier pools to offset it, but hopefully a few get fukt.

also:



This post was edited by thesnipa on Jun 16 2021 11:25am

Great event coming up for investors or curious individuals for folks that want to go down the Bitcoin rabbithole. Coming up July 21th, big brains will be speaking don't miss out

https://www.thebword.org/c/the-b-word

As charles hoskinson says bitcoin hardly has a future.
It doesn't develop or make progress, its popular cos its like religion on which no1 knows answers to except "just buy and hold". Its old and its stuck in time.
Its followers used to be amazing, now the conventions are all about kids with lambos and diamond jewelry showing off what they made in btc. Its not about decentralising anymore, its about making money and cashing out.

Im currently in the middle of a 5h podcast of his at lex fridman. Maybe he throws something else worth memorising

This post was edited by SylvesterStallone on Jun 24 2021 11:58pm

bitcoin indeed is in danger. it's original purpose was to replace banking worldwide. however it now more has the ability to replace 2nd and 3rd world banking, which was always more problematic than 1st world banking anyways. countries like Venezuela that had disastrous central planning are a perfect place for Bitcoin to give stability against hyper inflation. maybe eventually 1st world banking can give way to blockchain, but for now it's an investment for chads and a real tool for the worlds most downtrodden economies.

yeah el salvador accepted btc as payment method now, and some other 3rd world country accepted SAFEMOON. couldn't stop laughing at that.

well doing it from third world countries is the good way to jump in I'd say. cos once you're accepted there and you become a legal tender, you suddenly find yourself on forbes which is a good gateway to modern countries then

This post was edited by SylvesterStallone on Jun 25 2021 07:41am

Bitcoin is making ton of progress my friend, there are second layer solution already build which is the platform el salvador will be using. To simplify it's possible to transact few cents & dollars transaction basically for free (very minimal fee) fast and permisionless. (Main Bitcoin chain can only transact so much per second) It is really a game changer but the network effect wasn't seen on the lightning network yet, it's about to get much more view with Paraguay and El Salvador at front. Bitcoin devs and engineers are building the layer 3 now as we speak, sort of a smart contract thing for Bitcoin. Tremendous amount of engineers are working on Bitcoin, Jake Dorsey fucking said he would quit twitter and square if it was needed to help with Bitcoin. There is an insane amount of brain working on Bitcoin and it has proven reliable since now. ETH haven't finished their own layer 1 (eth 2.0 is years from now and will need to be tested months) and it is deeply centralized. (google and read what infura does for ETH). The dev team pre mined 72 000 000 ETH, that is still like 60% of the supply and they are changing to proof of stake which reward the biggest stakeholder? Hello?

This post was edited by TheHitman on Jun 25 2021 08:35am

interesting. will check it out a bit, cos what I wrote is what I've heard from people like charles hoskinson

Obviously we're all preaching for what we like, it would be weird for the co founder of the second largest crypto to preach for Bitcoin.. massive conflict of interest. You don't need to know much about eth to make a rational decision long term. They pre mined 72 000 000 coins for their team and they want to change the protocol to proof of stake. The concept of proof of stake is it's rewarding the biggest stakeholder which are the developers. There is also no maximum supply, not trying to be defeatist but this is exactly how our monetary system right now. I'm not saying there is no use for eth but they aren't made for the same thing

This post was edited by TheHitman on Jun 25 2021 09:03am