2 ms·
The market cap of Bitcoin is 99% not self custodial with keys people still have control of, not counting Satoshi'd hoard that might or might not be accessible.
by lupire 3y ago
The market cap of Bitcoin is 99% not self custodial with keys people still have control of, not counting Satoshi'd hoard that might or might not be accessible. All the new ETF interest in Bitcoin is just digital beanie babies. Without the tradfi system, there would be almost no demand for Bitcoin, which completely undermines its alleged purpose.
If you want cryptocurrency, Bitcoin isnt it.
- BLKNSLVR 3y agoIt's not possible to start a new currency system without reference to, dependence upon, and transfers with, the existing currency system - especially given that the existing system is so entrenched due to its extensive history. Given Bitcoin's reason for existence, it's obvious for another reason that "without the the tradfi system, there would be almost no demand for Bitcoin": if everyone trusted that tradfi was a good system and working fairly for all members of society then bitcoin wouldn't have a reason to exist. Bitcoin, like Trump's popularity, is an FU to a system that's reaching or reached a critical mass of people lacking trust in it. And that doesn't mean it's good or bad or better or worse, what it means is that people are looking for an alternative to the perceived hopelessness of their futures if they 'stay the course'.