King of the Midwits 👑
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Discussion
If he just took off those silly fashionista eye-glasses... 🤣🤣🤣🤣
It’s like he lives in some world where new coins, tokens, ‘networks’ aren’t being launched every goddamn minute.
And yet none of those have been able to supersede bitcoin 😂😂😂
Uneducated
Can someone educate this other midwit (me), please?
Why doesn't massive centralisation put the network at risk? If someone held 95% of all M2 dollars (mstr nowhere near that, obviously), would that not pose a risk to the dollar as a currency?
Do you honestly think saylor can get anywhere close to 90% of all bitcoins?
The only thing that could affect is price. They would be able to dump bitcoins on the market and then buy back to move the price wildly.
No, of course not. But surely we want the currency to circulate. If nation states and large institutions (perhaps even hodlers to some extent) gobble up all the bitcoin, do we not risk there being too little left for it to work?
(Of course, if what does circulate is adopted as a currency, prices would likely be high enough to entice holders to spend. I'm just worried it'll be more difficult to adapt to using it as a currency if most is held for the very long term.)