Originally Posted by
australianpackerbacker
Factually innacurate with the China fears. You're referring to the idea of a 51% attack on network. Not possible because the mining has become decentralised. At one point almost 60% of the network was in China, due to cheap electricity. Bitcoin mining was banned in 2021 in China, so now the current estimates range between 15-25%. Even when it was high it never happened because destroying the protocol wasn't in anyone's financial interests. So your China fears aren't accurate.
Im an optimist and an idealist, but it hasn't been 15 years. It's been almost 13. Like I stated above. It's not going to happen for the majority of westerners because they live in a system that caters to them. Ask somebody in Venezuela, central Africa, India, how easy it is for them to get a bank account and loan. If you were living in these circumstances and you could get a bank account on your phone that only you controlled and nothing else, your opinion would be 180 from what it is. Your western comfort and ease of being monetised dilutes the reality, and the lens which you see the bitcoin story through. These days anyone with a smartphone can plug into a global monetary network controlled by nobody. We take it for granted because we can get loans, credit cards and the system works for us. Doesnt work for 3b people though. Which is ironically why the western countries will be the slowest to understand and adopt it, because of convenience, and lack of necessity.
Im always filled with hopium. It's a better buzz..��