I didn't like Bitcoin when it came out and I still don't get it. I used it for a while for the only thing it seems possible useful for, but I don't have saving of it (to bad I guess).
- It uses to much energy.
- Its simply a public ledger with horrible privacy characteristics.
You can of course work around the privacy issue, but systems should be designed to have that characteristic, not require work around on every level.
And in terms of economics, actually running a complex, multiplayer economy on Bitcoin is in my opinion not possible at all.
This is something that Bitcoin advocates ignore, but even under the Gold standard, the actual broad money (in a monetarist sense) was expanding and contracting because of banks issuing currency and fractional reserve banking.
I had various arguments with people involved in Bitcoin claiming Side-Chains could have the same properties, but I don't see how that makes sense.
I for one, don't want to go back to what amounts to energy inefficient, horrible privacy gold coins.
- It uses to much energy.
- Its simply a public ledger with horrible privacy characteristics.
You can of course work around the privacy issue, but systems should be designed to have that characteristic, not require work around on every level.
And in terms of economics, actually running a complex, multiplayer economy on Bitcoin is in my opinion not possible at all.
This is something that Bitcoin advocates ignore, but even under the Gold standard, the actual broad money (in a monetarist sense) was expanding and contracting because of banks issuing currency and fractional reserve banking.
I had various arguments with people involved in Bitcoin claiming Side-Chains could have the same properties, but I don't see how that makes sense.
I for one, don't want to go back to what amounts to energy inefficient, horrible privacy gold coins.