WHY BITCOIN IS BULLSHIT
1. Regulatory Crackdowns
Governments can restrict or ban it, like China did.
Stricter KYC/AML laws could reduce privacy and increase user friction.
Central banks may prefer their own digital currencies (CBDCs) over Bitcoin.
2. Environmental Criticism
Bitcoin mining uses a lot of electricity (comparable to small countries).
If climate regulations tighten, proof-of-work (PoW) might be outlawed or taxed heavily.
3. Technological Obsolescence
Newer cryptocurrencies (e.g., Ethereum, Solana) offer:
Smart contracts
Faster transactions
Lower energy consumption
Bitcoin’s slow innovation could make it irrelevant.
4. Price Volatility
High volatility makes it impractical as a daily currency.
People may not want to spend or accept Bitcoin if its value changes rapidly.
5. Loss of Public Trust
Major hacks (e.g., Mt. Gox), scams, and lost wallets hurt Bitcoin's reputation.
If another massive scandal hits, trust could collapse.
6. Concentration of Power
A few mining pools control a large portion of Bitcoin’s hash rate.
This threatens decentralization, one of Bitcoin's core principles.
7. Lack of Real-World Adoption
Despite over a decade in existence, only a small percentage of people use Bitcoin in daily life.
If it remains a speculative asset only, it may never fulfill its original purpose as “digital cash.”
8. Geopolitical Pressure
Global financial powers (like the U.S. and EU) may unite against decentralized currencies to protect their own economies.
Final Thought:
Bitcoin’s future isn't guaranteed. It's either a revolution in money—or just a speculative tech experiment that may fade away.
