Austrian Economics Bullshit to the Max - The Bitcoin Fraudsters' Lies
Lies the fraudsters tell you...
Bitcoin is the new gold
Bitcoin is the new gold standard (and the best store of value and world reserve)
Bitcoin is the new internet (of value / money)
Bitcoin proof-of-work / waste hashing is creating "intrinsic" value
Bitcoin proof-of-work / waste hashing power is a measure of the strength of the network
Bitcoin mining is free (the coinbase block rewards are freebies)
Bitcoin mining is the beginning of a renewable energy revolution
Bitcoin HODLing creates wealth
Bitcoin is a singularity - no copies ever possible (or accepted) - Bitcoin Cash (BCH) is NOT Bitcoin (BTC), Bitcoin Cash Satoshi Vision (BSV) is NOT Bitcoin (BTC), Bitcoin Cash ABC (BCHA) is NOT Bitcoin (BTC) and is NOT Bitcoin Cash (BCH)...
Bitcoin is the beginning of a new era of world peace
Bitcoin makes wars impossible - no more buying weapons with inflated national money or on public credit
Bitcoin is the beginning of a new era of a trust-less "honest" banking and decentralized austrian finance utopia - no scams, no wash trading, no money laundering, no ponzis, no million dollar banker bonuses, no hedge fund speculation, no central banks, ...
Bitcoin is banking the unbanked poor and unwashed
And many more lies
What the bitcoin maximalists do NOT tell you...
Bitcoin is a gigantic ponzi (what's a ponzi? fools "invest" because they expect profits (easy money - number go up!),
no intrinsic value, the cash out profits from older investors come from new investors "greater fools"
and bagHODLers - it's a zero-sum pyramid game that will collapse)
Bitcoin is an environmental distaster (burning 36.95 MtCO₂ - comparable to a country like New Zealand -
with an estimated 77.782 TWh energy usage per year)
Bitcoin is anti-efficient - Bitcoin's proof-of-waste is getting ever more wasteful
if the network hashing power goes up
(or to the moon) -
the "every 10-minute a new block!" lottery (and processing seven transactions a second maximum)
stay ever the same
Bitcoin is computer code that you can change (no gold-is-a-mineral geological "hardware" laws apply to "software" code) -
What block size? What 21-million limit? One network update (hard fork) and done