Im sure you can figure this out yourself: whose power is most threatened by the emergence of #crytpocurrency? That’s your answer.
- What is the best way to stop mass adaptation? Keep the price volatile.
- How do you do this? By buying #bitcoin slowly over time and then dumping everything at once, triggering big losses for regular investors.
-Who can afford to do this? The Enemy.
Do you think this is a feasable attack vector in the long run? When large quantities of bitcoin is bought by companies, ETFs etc and the price rises and more people get in, DESPITE the volatility? I doubt it.
So far it has been exceedingly successful. The existence of “stablecoins” is one piece of evidence for that. The other is that I still had to use fiat when buying groceries today. But more importantly: right now it is impossible to touch down in a new country, find a job as a dishwasher, and earn a living in #bitcoin. Something that was common in America and around the world when money was still gold-backed and “immigration restrictions” didn’t exist.
These are three pillars on which the success of #bitcoin can be measured. We’ve accomplished none.
