victor on Nostr: Against my better judgment, I will cast pearls before swine. Bitcoin is set to ...
Against my better judgment, I will cast pearls before swine.
Bitcoin is set to deflate, permanently. Every time someone dies or drops their phone in the toilet or sends money to an inactive address, etc., that currency is DESTROYED. Gone forever, impossible to recover.
Over time, more and more people will destroy more and more bitcoin. It may be fast or slow, but the trend is permanent deflation.
So newcomers are stuck fighting over less and less bitcoin in circulation (assuming they fall for the scam and start buying into it in the first place).
Meanwhile the early adopters hoard the majority of it. The HODLers here. Before you know it, you, the early adopter, have disproportionate control over the bitcoin economy. Your current amount used to buy a book; now it buys a house; later it buys a yacht or whatever.
The newcomers will never have a chance, even if they are as smart as you and more motivated, to earn that kind of wealth, because you will keep it close-hold and invest it and leverage it in ways that ensure you never actually lose it.
Does this sound familiar yet?
Bitcoin bros just want to be the new banking class.
I await your response, in which you will surely tell me I'm wrong without actually proving anything. Good luck.
(And if I REALLY feel like banging my head on a wall, I might come back with a "suppose 100 people have 1 coin each" scenario, but you're probably not worth the effort.)
Bitcoin is set to deflate, permanently. Every time someone dies or drops their phone in the toilet or sends money to an inactive address, etc., that currency is DESTROYED. Gone forever, impossible to recover.
Over time, more and more people will destroy more and more bitcoin. It may be fast or slow, but the trend is permanent deflation.
So newcomers are stuck fighting over less and less bitcoin in circulation (assuming they fall for the scam and start buying into it in the first place).
Meanwhile the early adopters hoard the majority of it. The HODLers here. Before you know it, you, the early adopter, have disproportionate control over the bitcoin economy. Your current amount used to buy a book; now it buys a house; later it buys a yacht or whatever.
The newcomers will never have a chance, even if they are as smart as you and more motivated, to earn that kind of wealth, because you will keep it close-hold and invest it and leverage it in ways that ensure you never actually lose it.
Does this sound familiar yet?
Bitcoin bros just want to be the new banking class.
I await your response, in which you will surely tell me I'm wrong without actually proving anything. Good luck.
(And if I REALLY feel like banging my head on a wall, I might come back with a "suppose 100 people have 1 coin each" scenario, but you're probably not worth the effort.)