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From that I can tell, all this economic and ideological based theorizing is completely misguided. BTC has gone up, but all the theories about what it was going
by orange_tee 6y ago
From that I can tell, all this economic and ideological based theorizing is completely misguided.
BTC has gone up, but all the theories about what it was going to be and do proved all false:
1. didn't replace fiat,
2. didn't even get used as a currency at all except initially on the black market,
3. wasn't prosecuted by governments at all, none tried to shut it down,
4. but did get regulated in the sense that all commercial entities that deal with BTC need to follow KYC and AML laws,
5. didn't become as decentralized as it was envisioned,
6. most people who "own" BTC, actually own an account with an exchange,
7. does not go counter to the normal markets but instead follows the same trends.
Seems like practically everyone who said anything about understanding BTC is full of shit.