Either it was a shitty investment from the beginning or you actually use it very regularly and it would be worth it anyway to slowly thinking about something new.
Laws are not helping bitcoins and I could less about Bitcoin if it wouldn't consume that much resources.
Nonetheless of what you build or not. You still ignore arguments I brought up in our discussion.
Right now in my opinion you deflect.
As I said before: Bitcoin doesn't even solve the trust problem. The only thing it does it makes sure that one value gets transferred from one crypto endpoint to another.
And the only thing existing are coins. The creation of these coins have fundamental problems:
1. There are very little of them
2. Very little of them get created
Whoever owns Bitcoin right now have in theory such an first mover advantage that no one in their right mind will ever start to transfer over Bitcoin.
And because new coins are not just getting created so slowly they will even become less. In 4 years only 1-2 coins will be made every 10 minutes.
This alone will breaks Bitcoin neck sooner than later.
Changing this would create big value changes for Bitcoin. Whoever owns Bitcoin will experience huge inflation if anyone going to fix this.
All the math just doesn't make sense for Bitcoin at all.
El Salvador Shows how stupidily hard it is to use in real life.
And you argue by wanting laws for Bitcoin? The magical decentralized anonymous crypto? You already want what most don't want.
No one ever wanted crypto to be regulated.
All of this will just incorporate (if even) crypto into our current fiat system.
And no not a single country and me as a citizen want crypto. My family and friends have no clue how crypto works.
Just because you build some company whatever doesn't make you an expert in economics of Bitcoin.
Porn didn't consume all of the bandwidth. Porn is used in short period of times. It's so far away of Bitcoin, that comparison doesn't make sense.
Yes Bitcoin consumes a lot of renewable and often limited renewable energy. Like water energy in Canada or solar panels etc. Just because they consume renewable it's not helping us.
The amount of free or cheap energy we have around the globe is limited. Your Bitcoin miner makes more money than anyone who just needs to consume it.
And the natural gas plant in NY IS NOT renewable!
Regarding my example in Texas, you not just ignored my natural gas power plant which got turned on again for Bitcoin you also ignore that for the Texas grid having to PAY Bitcoin miners to stop is horrible for consumers.
There is no inherant motivation for a Bitcoin miner to play nice. The opposite happens even if they just consume random energy they just use even more because they don't move that heat to someone to heat with but use AC to blow it out of their buildings.
Bitcoin is not stable. It moves around as any speculative asset. When inflation was low, prices spiked because people started to gamble. As of now Bitcoin has not proofen to be stable in any way. It's therefore NOT helping the poor as you suggest.
You say Bitcoin is a great alternative for Visa and co. Just that 1. Bitcoin fees vary and I have payed plenty! Of fees. Often enough more than I ever paid for visa. Your argument is again invalid.
And sure let's create a proper digital us dollar to optimize it. Why not? But Bitcoin is not doing this at all!
Btw do you also know what visa does but Bitcoin actually can't? It does insurance and fraud protection. Bitcoin has none if it. If I transfer super securely Bitcoin to a seller and the seller doesn't give me my goods, I will not have anything.
The way smart contracts try to solve this is ridiculous: I would need to block the same amount of value on a smart contract and get it after the transaction. A rich person could literally bankrupt a poor person.
Guess what a solution for this would be? Escrow. What is escrow? Trust. What is trust? Proof of stake.
No one wants to change the inflation rule. No normal person should ever be able to control this. The expertise for it is a sub field in itself. If everyone would vote, everyone would get cheap money until the system breaks...
What the central banks do is critical and has not been magically be solved by Bitcoin at all.
An exchange is not the same as a bank. And normal Bitcoin bros tell you to NOT use exchanges. Why? Because everyone will run to the same few, which then again need to be regulated as we have seen . You basically would then replace the existing finetunes and regulated banking system with an regulated and finetunes exchange system. You wouldn't have won anything.
I'm traveling around the world too. I have not seen anyone accepting Bitcoin in the last 20 restaurants at my current rural France holiday. Where do you do holiday? Srsly? Tell me at least 5 places which took Bitcoin directly.
The current fiat system is not perfect but it's the best proof of stake system with a ton of features, it's finetunes by all of us for over a century now and it works.
I exchanged my euros in Iran for their currency. No one of those people had a smartphone to do Bitcoin transactions.
And no the third world person can't just exchange their 'not so good currency ' easy nilly into Bitcoin and no as long as Bitcoin is unstable as shit it's not a good way to get your salary in it.
My friends in Ukraine (8 years ago) were very very happy to have a stable euro income in comparison to their local currency
Whenever energy is cheap and available Bitcoin will just consume it.
And we see this. We see were energy gets blindly stolen in China, we see were a old gas power plant gets turned ON again in NY. We see that in Texas they paid the Bitcoin miners money to stop mining when they needed the energy
We need taxes. Poor people especially for social services. No one benefits proportional more from taxes than poor. And if a poor person can take advantage of anonymous money, the rich have done it already.
Proof of work is shit and Bitcoin doesn't solve a single issue. You still can get robbed of Bitcoin now just much easier than before, it's still not anonymous because of the ledger and the amount of energy and hardware garbage it produces hurts normal people more than it ever helped.
We have the perfect system which has more features (a lot more) and has grown to what it is. It's our current proof of stake. Bitcoin doesn't solve inflation/Deflation at all. The new Bitcoin amount which gets added to the system is not controlled which is necessary to have the right amount of money in it to be useful.
I can go to a bank and recover my money.
I can exchange my money with other countries.
We have some type of protection for inflation and Deflation .
You really need to learn to understand our current currency system.