We know you love the fantasy of Crypto, but have you ever taken the time to understand how it works... ?
Cars and how it relates
Most of us, male or female that are of the driving age, have at one time or another been behind the wheel of a car and we know how the price of fuel affects our driving habits. Some of us may drive a little slower than we did when fuel was cheaper, in the search for extra mileage and some of us have gone from big gas guzzlers to smaller cars, again to optimize the cars range and improve our bank balance.
You see, as time goes on and the reality of what a car is, embeds itself into our "common sense", we stop seeing a car as an adventurous machine that can whisk us to any location in the country we live in, and... instead we conserve its usage based on fuel prices and how far the cash in our wallet can take the car. Of course, those people who have more economical cars can go further than those with big engine cars, using the same amount of fuel.
It wasnt that long ago, that people and even the Automotive industry laughed and mocked the advent of the electric car, as something of a toy or a fad.
Who Killed the Electric Car?
A portion of the film details GM's efforts to demonstrate to California that there was no consumer demand for their product, and then to take back every EV1 and destroy them. A few were disabled and given to museums and universities, but almost all were found to have been crushed. GM never responded to the EV drivers' offer to pay the residual lease value ($1.9 million was offered for the remaining 78 cars in Burbank before they were crushed). Several activists, including actresses Alexandra Paul and Colette Divine, were arrested in the protest that attempted to block the GM car carriers taking the remaining EV1s off to be crushed.
Now in this day and age, what is the technology that is shaping up to be the future of cars? Electric of course!
So how does this apply to Bitcoin and Altcoins
Bitcoin and Altcoins are essentially the same and we can consider that mining is their fuel!
After all, neither will work if miners didn't confirm and verify transactions for all of the Bitcoin and/or Altcoins.
Now the scary part is that in Bitcoins circumstances, the ones that control the mining (fuel) are 21 companies and of those 21 companies, over 50% of them are owned by Chinese companies.
Of course there is nothing wrong about the Chinese owning such a large portion of the mining control, because that country has low electricity costs, cheap labor and of course the financial power to purchase mega millions of dollars worth of mining equipment, much like Oil companies spend mega millions to extract crude oil from the earth.
With so much money flowing through the Internet via this amazing technology called Crypto Currency, there has also been a sense of "this will go on forever" time idealism and people forget that mining Bitcoin is regulated not by Governments, Companies or individuals, but simply the technology that is required to extract (mine) Bitcoin.
Only the wealthy can extract crude oil from the earth as it takes a lot of money, time and people to get the oil, much like mining is not so expensive that to do it efficiently, requires a bigger investment than most people can afford, let alone dream of.
Bitcoin and eventually Altcoins are all doomed to the way of the gas guzzling car and will probably die well before the Mustang, Camaro or other.
Is there a solution?
There sure is and like the early electric cars of the 90's, the media and individuals are also laughing at the one Crypto that makes any sense. The one Crypto that in the face of criticism, knew that the only way for Crypto to survive was to get rid of the shackles of mining and adopt a more society focused method and that is exactly what Rimbit has done.
Rimbit has removed mining from the currency and instead every Rimbit user with a wallet that is online is responsible for the verification of confirmation of transactions... It really is that simple.
If that basic concept is to hard to understand, then you can either join this forum and participate in discussion and learn that Rimbit really does what it says and can be the coin of choice for centuries to come, a feat that Bitcoin cannot claim as it becomes more centralized, day by day!
or
Be like those that have condemned the logical future for an idealism created by society that eventually was proven the wrong way to do things.
It will be similar to the 'global warming hoax' exposed as the next little ice age arrives before the end of this decade.