Should I be worried about Bitcoin.

[universe]

6 hours ago, meow_meow said:

Remember that Bitcoin is not unlimited. It has a limit and sooner or later we will mine the last block = last bitcoin.
What happens after the last bitcoin block get mined?
Who owns most bitcoins?
If the governments already own most of it, how is it not controlled?
What if the conspiracy theory that CIA invented it to spy on darkweb finds out to be true?

Too sketchy IMO.
But the blockchain tech in general has already impacted how banks manage transactions. You can google it. Quite interesting.

The last one will be mined in 2140, then there will not be any new bitcoins (if the protocol doesn't change that). It doesn't matter though because most of the 21 million bitcoins are already mined.

You can look up who owns the most BC but it's not linked to a name, just a #. It's anonymous.

What would happen if a country would own most of the gold? It doesn't give them control over the gold, just leverage for playing the market. Like big banks or hedge funds have today.

I've never heard that theory and it seems highly unlikely. And if you fall under the 99,999% of people not browsing the dark web it won't effect you. They  (big institutions, companies etc.) already have most of your data anyways I guess.

 

Of course it's new and maybe sounds sketchy but Bitcoin was build with trust in mind. And that is what it offers: being as close to verifiable digital gold as it can. The question is if it will be accepted by society at large.

[JosephKnecht]

On 8/23/2020 at 7:10 PM, meow_meow said:

Remember that Bitcoin is not unlimited. It has a limit and sooner or later we will mine the last block = last bitcoin.

In reality that is infinite, we must create mathematical scarcity so that we can have something to value. Bitcoin is a mathematical scarcity.