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1. | parent_author | khaleelkazi |
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title | "" |
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body | ">it’s even more interesting to me if BTC gains a lot more stability and day-to-day usage as a currency where I can store value outside of the centralized ecosystem.
I doubt that will ever happen. I'd rather see, as many more do, BTC as a digital gold. For mainstream use I guess we will have the digital dollar, yuan, EUR and so on...
Store of value maybe, but also that will happen once the big powers would have already acquired most of it, and just after that I guess they would encourage people to buy it *officially* and why not store it *safely* in their banks.
Many claim that it was designed for the people, but from what I know most of it is owned by large accounts, accounts that might have bought it on the rise but see the potential of it for the future and refuse to sell it for a 2x or 3x...
It's also being said that China mines about 60% of the total BTC being mined and that might mean that lots of BTC is in the hand of Chinese oligarchs, and China is very close to launch their digital yuan... interestingly right now after this pandemic.
What a coincidence... It started all in China, most of the BTC that is being mined is mined in China, and China will be the first to launch a national digital currency.
I guess the price will go even lower and that would only be a transfer of wealth from the poor to the rich and after all the times spent in the crypto world the poor will end with stable digital currencies while big financial institutions and moguls with the digital gold.
As you said, the next few years are going to be interesting to watch but quite painful for many of us. A lot will change in my opinion, and probably quite some fundamental principles that we knew and we were expecting regarding cryptocurrencies.
I hope I am wrong, but if BTC was actually invented by authorities, or lets say big world powers, just to get us the taste of digital currencies and how they work, and then serve us some simple national ones tied with tons of privacy issues for us, the users, than we have been played.
Hope I'm wrong and humanity will ultimately escape the claws of these merciless financial powers that are ruling over us for too much.
Sorry for this sausage comment but I really wanted to point out all of this as I consider it quite relevant to your post." |
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