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Satoshi Nakamoto (whoever he/she/they) would not believe what he/she/they see today: - Bitcoin is not used for transaction, due to it is not scalable - But use
by christiansakai 6y ago
Satoshi Nakamoto (whoever he/she/they) would not believe what he/she/they see today:
- Bitcoin is not used for transaction, due to it is not scalable
- But used for store of value, which plenty of people find reason 1 is not a bug but a feature
Suddenly Covid19 hits. People go crazy over masks, lockdown, trust in government at all time low. Government attempt to fix the damage done by pumping more money. Economy destroyed, money printer go brrr makes all asset class bubbles. Institutions are out of asset class to invest and "hey we got too much money, where should we throw this? look there is this thing called Bitcoin we forgot about it, let's just gamble it away, 5% of our portfolio, if we lose it we lose it, but if we made it we gonna go to the moon"
Institutions then joining in, prompting more retail skeptics to reason "if institutions join then this gonna go to Jupiter, and at best land on the moon, I'll join up, I need to pay my mortgage/student debt, or get out of whatever screwed economic situation that happens in this 2020 pandemic just like most millennials out there, I have no other choice, go big or go home".
Welcome to the (USA only) Circus. Soon there will be Bitcoin Mining Employment Act because all of us will only mine Bitcoin, no other economic activity matters.