If you can transfer your Bitcoin around for free then its not Bitcoin.

If you can transfer your Bitcoin around for free then its not Bitcoin.


At the start of Bitcoin's ascent past its all time high in December 2020 bullish news was piling in with the community at large reacting extremely positively and more often than not praising everyone involved regardless of their real intent. By this I mean that payment dinosaurs like VISA and PayPal which are fundamentally incompatible with the idea of decentralized money. Cryptocurrencies have been 'available' in places like Revolut and CashApp for long enough time that the community should understand what they are really getting. Unfortunately this is not the case with many ignoring the intrinsic problems with these companies and their attitude towards open source P2P money. When using apps like PayPal and Revolut to buy coins people are paying a premium to own a fake representation of the coin. This is not a not your keys, not your coins argument but rather a no withdrawals, no real currency one. Neither of these apps allow users to deposit or withdraw crypto because you are not actually purchasing it but rather you are speculating on its price with the company. 


If users can 'charge' cryptocurrency wallets without paying a transaction fee then they are not really participating in the public ledger which requires miners to put this on the blockchain. This goes for all cryptocurrencies since truly moving coins/tokens around requires such actions unlike moving money from your savings account to your current account.  What's worse is when businesses charge users an extortionate fee to simply buy or sell when there are no real trades actually occurring. Clearly this is just a way of cashing in on the hype currently bursting at the seams of the industry without actually making any concrete changes. Despite this crypto influencers tout these superficial events as being positive for everyone even though there is enough real progress to shill. 



Furthermore why are CashApp using Bitcoin's name on a gimmick which apparently can be instantly sent around their own network for free. There is no relation whatsoever between Bitcoin and the '#cashappbitcoin' except for price. It's extremely troubling to ponder just how many people are currently speculating on the cryptocurrency industry without ever even having owned or come into contact with the real thing. What's the point of buying Bitcoin if you have no control over it, and you have no way of checking the blockchain to truly be in control of your transactions? 

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Joker1919
Joker1919

Ethereum Classic enthusias, in the game since 2015.


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