First of all, Bitcoin is a non fungible token or NFT. Doesn’t that sound kind of icky to you? It does to me.
But we can forgive Bitcoin for that. Especially if the NFT keeps rising in value. Which it has done since Donald Trump has gotten elected.
For whatever reason, Donald Trump has chosen to support Bitcoin. This puts the president elect in a weird position. You see El Salvador made Bitcoin the official currency in 2021. By supporting this NFT, Donald Trump is in essence being made into a lackey of El Salvador.
I don’t like Bitcoin. Not because I believe that governments should have power over their currencies. But because Bitcoin is extremely expensive environmentally.
Bitcoin uses an excessive amount of electricity to work. At present day usage, which isn’t that much compared to how it could be used, it is already using as much electricity as the whole country of Greece. Imagine how much electricity it would use if it were used regularly by all Americans. Bitcoin is a bad deal for the environment. Other NFTs are working on this problem by possibly working differently. But it still isn’t ironed out. And Bitcoin has shown no indication of reforming.
Maybe it’s because of this shortcoming that Satoshi Nakamoto lies low. He is the inventor of Bitcoin. Or the supposed inventor of Bitcoin. No one knows if he is really a person or a group that started Bitcoin. There is enough Bitcoin under that name that he would be a billionaire if he revealed himself. But all that Bitcoin under the name hasn’t changed hands in many years.
Is Satoshi Nakamoto embarrassed by his creation? Is it the electricity usage? Or is he fearing retaliation by those invested in country currencies? No one knows. But the way he lies low may mean that Bitcoin is a bad investment.
