newblockera on Nostr: #Satoshi explaining in 2009 the cautions we have with #Blacrock buying $150,000,000 ...
#Satoshi explaining in 2009 the cautions we have with #Blacrock buying $150,000,000 worth of #Bitcoin everyday in 2024
When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It’s great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices.
This was Satoshi’s response to a concerned community member who had asked if a malicious individual could opt to buy all the bitcoin in order to make the network useless.
When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It’s great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices.
This was Satoshi’s response to a concerned community member who had asked if a malicious individual could opt to buy all the bitcoin in order to make the network useless.