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That is speculation at the moment, a lovely fantasy to imagine to come to fruition for any technology; a market cap that has reached $1 trillion including price
by loceng 6y ago
That is speculation at the moment, a lovely fantasy to imagine to come to fruition for any technology; a market cap that has reached $1 trillion including price manipulation, I'm unsure it warrants that valuation - and arguably it's not simply that high due to price manipulation.
I do believe blockchain could help us solve some fundamental problems - but only if it's tied to real trust and democratic processes.
Bitcoin is a blockchain that's been structured to inherently be an MLM, and if you think through to the conclusion - say once 50% of the population has bought into Bitcoin, and now a growing majority require the remaining society to adopt Bitcoin to realize their gains - to unnecessarily, unreasonably transfer wealth from later adopters weighted towards earlier adopters - then you can how conflict will occur when the remaining 50% of society don't want to be left holding the bag, with no one else to then buy more Bitcoin for the last adopters to get wealth transferred to them; and this is why it also mimics a Ponzi scheme - it's just that there isn't a single controller liker Madoff, but instead it's controlled via a global, decentralized system that anyone can participate in.
- selestify 6y agoIt’s not a Ponzi scheme any more than any other investment is a Ponzi scheme. Once 50% of society buys gold, who’s going to realize their gains? Except for gold speculators, the point isn’t necessarily to just realize gains, the point is to own an asset whose value is guaranteed not to disappear, even if it fluctuates. Granted, gold has a stronger guarantee than Bitcoin as of now. But that doesn’t make Bitcoin a Ponzi scheme.