Yeah, I remember when it was tough to think about going to Europe because the dollar was so weak. What happened?
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
Just to be clear, my investments are levered to a lower dollar. Strong dollar hurts me going forward as I have a lot of EM sovereign dollar bond exposure.
It's not wrong. The quote is just referring to the beginning of 2020. The unlimited USD cap and only one node (which is a joking way to describe the problem) are also very important points, but seems you have no rebuttal for those.
Secondly, almost every study that tries to sensationalize BTC's inequality counts Satoshis wallet when it clearly shouldn't be. Even the article headline you posted explains this.
"However, it is important to note that Satoshi’s 1 million BTC is also included in this number. This wallet where bitcoin’s creator Satoshi Nakamoto, had mined 1 million bitcoins has never since any activity since then. The wallet, for all intents and purposes, is considered dead.
Take out Satoshi’s 1 million BTC wallet and the percentage of bitcoin’s supply controlled by the 0.01% drops significantly. It is also imperative to note that about 20% of the total bitcoin supply is presumed to be lost forever."
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I just read that the EU is going to raise interest rates, above zero!
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
Create a sense of scarcity with an illusion of lost supply owned by an imaginary friend. Fairy dust and unicorn stuff
I for one am not railing on the world to go to a BTC standard.
Why are you projecting that on me?
It's a digital store of value. It could be huge. I'm going to hold some.
I agree, "digital assets" more like.
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
You replied, I answered - in line with general conversation. FWIW, I do appreciate that you view it a speculative asset. Zero issues with risk assets and trading.
I'm not hostile to a digital currency. I'm not hostile to a form of digital stored value. I am skeptical that BTC can ever be a useful widespread currency - tolerance to scale is awful. That's my general 2 cents, the tech cannot deliver..
But we're off in la-la-land recently on some of the framing of crypto vs. established currencies or transaction networks with demonstrable evidence that they work.
I sort of boggle at the same culty reasoning recycled from gold people but with neck beards. Yes, some people have a disproportionate problem with central authorities. Trust issues. There are people who won't fly and must personally drive because they need that control. But virtually everyone is better having an apparatus that supports trained pilots, safety standards vs. one of these doofuses wanting to 'democratize it' so he can fly the plane. And even worse with crypto, you are at the whims of a stacked deck democracy where unaccountable whales already have built in majority stake that you can never override. That is, unless you don't adopt it. Then they lost their advantage which is the root of all the tacky scare tactics pressuring you to buy in. That is the power struggle driving the urgency..
Bitcoin is just tech, a tool. It's like having a spoon. You can say it's for eating soup or for hanging off your nose. It's still just a spoon, you assign the meaning to it.
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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