Dear Readers,
Bitcoin FUD is strong. There are a seemingly endless number of people who are lining up to attack Bitcoin any chance they get. For example, an acquaintance of mine recently shared an article in which the author tried to hide his obvious disdain for the network under the guise of being a proponent of crypto and related ideals.
The author’s premise is one I’ve heard many times before: centralized payment networks, like those managed by credit card giants, are too powerful, and users need additional choices in order to beat back their advances. But the author’s argument that Bitcoin has failed as a payment network, and that the real solution is stablecoins running on top of proof of stake blockchains, is a complete nonstarter.
