Sunday, 31 December 2017

Why Bitcoin will keep on failing

Why Bitcoin will keep on failing

Bitcoin was designed to be a Bubble/Ponzie/Pyramid Scheme dressed as a Crypto Currency.
Bitcoin did revolutionised the way people look at Crypto Currencies and AltCoins in general, but to create "Gold" out of cyber Space purely by mining it was a joke from start.
Now for the World to link all AltCoins to Bitcoin as if it is cyber gold is madness and only mad people would do it and try and believe themselves.
My first ever research into Bitcoin was through it's white paper. The Mechanics behind Bitcoin is nothing less than a Ponzie Scheme. How sad that the World's Future Currencies is build on a Computer Scam that no one wants to take responsibility for.
The Bitcoin Foundation dipped their hands into the Script running Bitcoin and change the trust factor completely. If Bitcoin was to be the Cyber Gold of our World it should have been presented like that and a Trade Currency should have been linked to it.
BUT ... Bitcoin was presented to us as a cyber trade Currency and then when the transactions started stacking up Bitcoin run into Hard Coded intentionally implanted inflated algorithms thus strangling it self in the lack of computing power.
If Bitcoin was intended to be the "Gold" then it needed a "dollar" as a currency that was not intentionally computer processing hungry.
The Bitcoin Community/Foundation altered the original script and the two hard forks never happened. Proofing that Bitcoin is not decentralised and not self regulated.
Furthermore confusion was created with Bitcoin Gold (BTG) and Bitcoin Cash (BHC). One was a fork from Bitcoin intended to be the Cash and the other was created so people with inferior hardware can share in the so called mining experience.
Well that is that ... Should have Been Bitcoin Gold ... Bitcoin Cash and Bitcoin ... in that order, but it is not .. now we stuck with a Energy hungry monster that is ill equipped to drive the Worlds Economy.



Wikipedia      - Bitcoin
White Paper  - Bitcoin

Satoshi Nakamoto Institute

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