Viewing a response to: @builderofcastles/bitcoin-is-going-to-win-because-the-banksters-will-shoot-themselves-in-the-foot
The bankster ponzi scheme is still functioning for now, allowing the global economy to continue running on fiat. But what happens when the debt-based system finally collapses under its own weight? With limited functionality (in terms of smart contracts, privacy, NFTs, etc) and only supporting about 7 TPS, Bitcoin cannot support much real-world economic activity. In today's fiat-based world, Bitcoin is valuable. But in a crypto-based economy, demand for Bitcoin will likely decrease relative to other tokens that can be used to pay for services directly, or vote in governance decisions. I could be wrong, but I think the new economy that emerges from the crash will be powered by a diverse set of cryptocurrencies, and Bitcoin will become less and less relevant as time goes on.
author | brennanhm |
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permlink | re-builderofcastles-sy4e23 |
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Oh yes, i believe that too. But if used "crypto" instead of "bitcoin" this post wouldn't have the same feel, and i would have to type a lot about the 95% of crypto that doesn't make it. Bitcoin and the lightning network could have things covered, but you are correct, no where near there yet. And the big thing missing is middle priced transactions that really should be saved on blockchain. So, i think it will be Bitcoin, BCash, Litecoin, Digibyte and maybe even Doge
author | builderofcastles |
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You see the bill that is going to the house yet? The treasury will have strict regulatory control over all the coins, and there will be required ledger reporting to the treasury in order to do so. At least from what I understand of it. Someone is going to pay for all these ledger reports that have to be tracked and reported, employees don't come cheap. The associated cost they may make it sound cheaper but like everything else in life, if it sounds to good to be true, it probably is. Trump is a wolf in sheep's clothing, and he let that out of the bag the other day when he said stablecoins will be like the US version of Fintech. Which is the Chinese version. If the rich and elites are buying up bitcoin, it is because it's finite, and no they won't be sharing it's value with billions of people across the globe because it will dilute it's value. They are up to something and it usually doesn't come out in the general public's favor.
author | sunlit7 |
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