I love crypto, but hate Bitcoin. Ever since I 1st got into crypto, I've never understood why people like Bitcoin so much. I've always seen it as slow, expensive, & inferior when compared to the other cryptos available. Almost anything that BTC can do, another chain or token can do better.
I have come to understand the significance of its unrivaled security & the power PoW has to prevent censorship. However, I see Bitcoin as the biggest scam in the history of crypto.
Imo, Bitcoin was created by bad actors apart of corrupt governments & banks to get people accustomed & excited about using digital payment networks. Governments, banks & regulators across the world want you to use public blockchains like Bitcoin, so that they can track everything you do.
10 reasons Bitcoin is a scam:
- Massive centralization of ownership
- Limited throughput
- Most trading volume occurs offchain
- Dev pool is small & centralized
- High tx fees
- 99% of BTC users KYC to cashout
- Liquidity pools are centralized
- Limited smart contract functionality
- Ordinals threaten network stability
- Bitcoin is shadily endorsed & promoted everywhere