Comments on: Renewed regulatory pressure on Bitcoin is no surprise https://bombthrower.com/renewed-regulatory-pressure-on-bitcoin-is-no-surprise/ Blowing up the Clown World. Fri, 03 May 2024 12:36:02 +0000 hourly 1 https://wordpress.org/?v=7.1 By: Local Yokel https://bombthrower.com/renewed-regulatory-pressure-on-bitcoin-is-no-surprise/#comment-176577 Fri, 03 May 2024 12:36:02 +0000 https://bombthrower.com/?p=9791#comment-176577 Mark, love your writing and agree with you on 99% of the issues we're facing. I only lament the shift from Crypto Capitalist to Bitcoin Capitalist. Reason being, Bitcoin has been hijacked, and is only marginally useful at this moment. ETFs now control the BTC market price for Blackrock's benefit, and the government likely only needs to make one phone call when they need the price dumped 75% overnight to cause a panic. BTC blocks were artificially limited to force people onto Lightning Network, which is confirmed DOA. BTC fees are astronomical and went to $240/tx last month.

The good news is we live in a multicoin world. ETH, BCH, XMR, or DASH all offer uncongested blockchains with low fees and innovative improvements in: block propagation, difficulty adjustment, governance, and staking. They all offer P2P payments not requiring any intermediary. It doesn't matter what coin anyone uses, because the name of the game is now ABF (Anything But Fiat). Look into decentralized exchanges and atomic swaps. Check out THOR and AVAX. The future is here, there is no point clinging to BTC as if it has some magic other than the first mover advantage.

Keep the Faith!

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