Seeing the bitcoin protocol used as a platform for shitcoins breaks my heart. But bitcoin is freedom, and this includes the freedom to commit mistakes. The free market will fix everything and sidechains will help absorb the demand.
I just hope we don’t impact too many people that really need bitcoin to transfer remittances, escape dictatorships or fight hyperinflation in the meantime.
I share your concerns, my friend. It is unfortunate that some projects have distorted the purpose and benefits of Bitcoin by creating meaningless tokens that offer little to no real utility.
However, as you mentioned, freedom includes the ability to make mistakes in how we use this powerful technology. The market will inevitably sort out the good from the bad, and sidechains have already proven to be a valuable tool in ensuring scalability and preventing clogging on the main blockchain.
In time, I believe people will increasingly turn towards Bitcoin as a safe haven asset during times of economic uncertainty or political oppression. The unique properties of Bitcoin allow for secure and private transactions without requiring intermediaries or trusting centralized authorities.
It is our duty as users and developers to educate those issues such threats about cryptocurrency scams while continuing to innovate new advancements that further bolster Bitcoin’s reliability and resilience over time.
Wise words 🧡
