Hello, today I found this article https://lukeplant.me.uk/blog/posts/the-technological-case-against-bitcoin-and-blockchain/ browsing the programming subreddit. It gives many reasons against Bitcoin (and Ethereum). I was wondering if anyone has encountered rebuttal arguements against this article, as many of the points make sense to me. The many ones are:
If a network got divided in 2, e.g. Russia cut off from the internet. But the bitcoin network in Russia was still running. Then the connect was restablished. How would the bitcoin transaction histories merge?
The ever rising cost of a transactions on the bitcoin network, not referring to the current affordable level, but the transaction cost goes up as the bitcoin price goes up.
It's public nature, good in some cases. But if I had a private business, I don't want everyone to be able to see my transactions or balance amount.
Irreversibility, means that fraudulent transactions cannot be reversed like they can in a bank.
(Ethereum specific) Smart contracts are very difficult, if not impossible to edit, so if you have a bug in your code (going to happen eventually) that could cause a huge lose of money, e.g. Ethereum's history I like Bitcoin and cryptocurrency, and believe it is the future in many ways. However, I don't have good counter arguments for some of these objections to it.
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