Thinking CBDCs are “safe” is extremely naive. They’re a dystopian nightmare. They’re every dictators wet dream. This is why Bitcoin matters. Bitcoin = freedom.
If it's centralized it's garbage and it doesn't matter whatever its roadmap is. Also ETH wont implement sharding because its breaks composability. It's just marketing.
> the ruinous consequences if a Proof-of-Work-based currency were to rapidly overtake the current payment networks, in terms of the cost of electricity and environmental impact.
I don't care about securities law or what the US government does towards crypto. My point is that these ARE securities and bitcoin IS a commodity. When people truly understand this they realize owning anything crypto is akin to buying penny stocks and Bitcoin is basically digital gold 2.0
Having a roadmap is no merit. A roadmap means the system is centralized because a core group of people can change the rules. If it's centralized it's not censorship resistant and the supply can't be guaranteed to not increase and dilute holders therefore it's garbage.
Feature not a bug. Base layer that will serve as foundation for entire global economy should be as simple as possible to make it as reliable as possible. Like all complex systems, functionality is added in layers. Things like lightning network and fedimints are examples of such layers.
> It's great that there's 21M supply cap.
Fixed supply is an essential requirement for the entire system to have any merit whatsoever. If supply can change at direction of core group of insiders it's just the same thing as the existing fiat banking system and the real value of the tokens will be diluted in perpetuity.
> But absolutely useless for software engineers to build financial primitives on top of.
No. See comment above about layers.
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Bitcoin is a commodity, ETH & all of crypto is just (unregistered) securities lying/pretending to be commodities.
Ethereum is a foundation of sand. The protocol and the rules change at the whims of the senior insiders. It's not a stable platform and since we don't know what the rules will be in the future you can't plan for the future and build anything long term.
> >In the stormy world of crypto, Bitcoin is the port.
This is an idiotic statement. Bitcoin development has completely succumbed to corporate capture at this point by Blockstream and the likes.
I disagree. Bitcoin has never had a hard fork. There isn’t a “Bitcoin classic” chain floating around with an old set of consensus rules. Block stream and/or minors can’t force a hard fork like ETH devs can.