Bitcoin reminds me of social welfare systems, for that reason.
Everyone is hoping the other people are the suckers who produce tax monies and children, so that everyone who held back can make out like a bandit.
With Bitcoin, everyone is hoping the other people are suckers who own companies, instead of just stacking and hodling.
I disagree. Bitcoin will provide a true cost of capital (~100% APR over the last ten years) . This is the market telling you that the most important thing you can do is establish a sound money. After BTC reaches true scale (2030's) this yearly return will drop I think by an order of magnitude (~10%). I think plenty of business can operate that return 10% more value to shareholders than idle capital.
