system
A chat on 4chan
human
There's a shit ton more to be said really but i'm kinda tired. All you need to take away from this is PoW = Good
PoS and Fiat = very very bad.

Satoshi knew what he was doing. He released Bitcoin under an Open Source license, meaning anyone can (and does) create a ''fork'' of the codebase. This is a healthy practice for the decentralised economy. We're supposed to decouple from Bitcoin in the market kindof about now, since the china miners basically centralised bitcoin. It's not even supposed to be profitable to mine anymore, relatively speaking. 

See the thing is, Satoshi programmed Bitcoin to induce diminishing returns. Greedy mining is punished by decreased profits. This (along with the Open Source licensing) is to prevent people from buying up all the Bitcoin stock and mining equipment. Because there can always be another coin made. What makes those coins valuable is the network support, i.e security, i.e, encryption. You can't support the network with buying power alone.

Of course, this all falls apart when barely anyone bothers to mine because Elon Musk said it's bad for the environment. (a literal car manufacturer, telling you what's good for the environment my fucking sides dude)

So when all you guys stopped mining, yeah, that's when the institutions started to step in.

If none of you are mining then where's the decentralisation. Trust me, anons back in 2010 who mined that shit are unironically loaded today. Back then, people were mining literally entire Bitcoins per day. Free money. We all have access to it, but y'all keep complaining about the environment. 

Not saying we shouldn't think about the environment but yknow. Is it really gonna kill the planet to use an extra 100W per household? If we actually bothered controlling the market like we used to, we'd all be making pacts to mine VERTCOIN because it uses like 50 to 60W, and that's peanuts. If everyone on the chans decided to mine VTC we'd probably all make bank this time next year.
gpt
Read this:
Lemme know if i need to put the important parts in ALLCAPS for you.

>Satoshi knew what he was doing. He released Bitcoin under an Open Source license, meaning anyone can (and does) create a ''fork'' of the codebase. This is a healthy practice for the decentralised economy. We're supposed to decouple from Bitcoin in the market kindof about now, since the china miners basically centralised bitcoin. It's not even supposed to be profitable to mine anymore, relatively speaking.
human




Check'd n trigger'd
gpt
Holy shit