Knock_Knock_Lemmy_In

Science says unmade is healthier

Can some explain (in spoiler markdown) please?

mining has not compensated for mining for a long time.

Fees are less than 2%

The average commission payment is now 1.5 bitcoins. almost half of the reward

I think you have the wrong units. The average fee is 1.5 USD.

And it will pay off only in 1.7 years

This is quite quick. Last time I looked the it was around 3 years. Most of the cost comes from buying the hardware.

The assumption that bitcoin is only used by criminals is much less accurate.

It came from here but this source has more detail.

Because they can't run out of money, central banks can be the largest buyer and seller over the short term.

But there is no economic rule that demands those entities exist. For example, from 1863 to 1913 the US had almost no use for a central bank.

Note that I'm very far from suggesting the world's economy should run on bitcoin. Just that central banks are not as essential as they are made out to be. They are used as much to cause inflation as they are to control it.

I copied that from Wikipedia which got their reference from through NY times.

For specific details, this is probably a better source https://www.trmlabs.com/resources/reports/the-illicit-crypto-ecosystem-report-2022

Valuable to the people creating debt in that currency. Not to other stakeholders.

USD FX pairs are currently cheaper using traditional transfers.

However going from a non G20 currency to another non G20 currency can be much cheaper using crypto.

but those costs don’t give bitcoins any inherent value.

Because bitcoins cost X to produce, people believe they are worth X.

People buy big ticket items like cars and houses with bitcoin, not chocolate bars.

Modern blockchain protocols dominate bitcoin in every dimension except market cap.