False News Spread By Media Attacking Bitcoin, Bitcoin Doesn't Care.
Just like honey badger… Bitcoin don’t give a f*ck.
Lately, there have been quite a few false claims made by the media and government about Bitcoin.
These attacks are to be expected, since Bitcoin threatens the ability for many rich elites to easily make BIG bucks thanks to that money printer.
Claim #1: Watch out… the government can seize your Bitcoin - no matter how you store it!
See news here: U.S. seizes $2.3 mln in bitcoin paid to Colonial Pipeline hackers
This FUD is easily debunked: if you properly self-custody your Bitcoin (store backup seed phrase hidden OFFLINE, or even memorize it), nobody can confiscate your Bitcoin. Nobody can even prove or know that you have it. It’s the ultimate self-sovereign asset. No reliance on a third party - you are your own bank.
Claim #2: Bitcoin is using too much energy, much of which is DIRTY!
Let’s start with the first part - using too much energy. The problem here is that if you don’t fully understand Bitcoin, you may not know the benefits that Bitcoin brings to humanity, and will as a result see it as a waste. Bitcoin is liberating humanity, giving true property rights to billions (many of which don’t have access to a any assets/investments or even a stable currency), banking the unbanked, protecting the people from hyper-inflation and corruption in governments, and giving humanity the gift of a:
secure transparent auditable decentralized uncensorable unseizable undebaseable verifiably scarce honest base layer sound money
The amount of energy used by Bitcoin miners is worth it because it allows humans to transcend our own ways of fiat money: debasement & theft on a massive scale, widening the already-huge wealth gap. Plus, if we want to start auditing the use of all energy… US Christmas lights use more energy than entire countries
Second - Although coal mining is still around, Bitcoin actually expedites our process towards using more sustainable energy. Since Bitcoin mining can be done anywhere in the world, miners compete to find the cheapest energy and go to where the energy would otherwise be left unused. Where normally there is no need for energy, Bitcoin miners will go.
Those are the two latest false FUD pieces in the news. Don’t let the fear emotion dictate your investing decisions.
Remember- whatever doesn’t kill Bitcoin, makes Bitcoin stronger. Bitcoin always survives and moves forward.
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