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Replying to Avatar Peace K 🪙

Here is the truth about Bitcoin.

The amount of Bitcoin is not limited at 21 million. It is not limited by an algorithm.

Bitcoin is limited by consensus.

Bitcoin can only grow, never contract.

Once there is a consensus amongst 51% of the miners to raise the Bitcoin cap, nothing stops them from raising the cap. Bitcoin mining is relatively centerlized. Reaching a consensus is easier then it seems.

Miners can decide to increase the cap, bit they can't decrease it. A central bank can decrease the amount of money and credit available, but with Bitcoin it's just impossible.

This is not saying that Bitcoin is not a good investment. My crystal ball is on vacation and I can't reach him to ask. All that I am saying that Bitcoin is not the freedom money it's touted as. Or at least that it has flaws that need fixing and fast.

#bitcoin

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FreeYoda 2mo ago

Well there are millions of people.

Many have conflicting views of what Bitcoin is and how it works.

They can't all be right.

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