0 sats \ 2 replies \ @UCantDoThatDotRugged 27 Feb \ on: ❓ Would You Still Consider Bitcoin a Success If ... bitcoin
It's dependent on the economic reality at that point. The hypothetical makes unlikely assumptions. Bitcoin doesn't hit $1million while people feel the same about the dollar and the stock market and other alternative places to park money that they do today. Bitcoin doesn't hit $1million while the chart looks like it does today. Bitcoin doesn't hit $1million while there are still a million of them to be mined. Bitcoin doesn't hit $1 million while most things for most normies need to be purchased with dollars.
The answer to the question 'will I consider Bitcoin a success,' is also dependant on what percentage is held by those four categories, and whether 'majority' means 51% or 99%.
FWIW, that's the wrong question - success/non-success binary is not nuanced enough to have much meaning.
Let's say in the next decade, the value goes so high that most dumbfucks end up selling their stack back to fiat - and 99% of the available Bitcoin end up getting captured by ETFs, Companies, Gov and Maxis.
Would that still be a success?
I am asking this because that's what it seems to be happening. I will win either way, however, I do worry (a little) that it will get completely captured by the fiat system and become another asset under their control, just like @grayruby mentioned.
reply
Yes that's more like it. I would say yes, it's semantic though. Yes because millions of people are orange pilled - not to Bitcoin per se, but to economic reality. Thus, whatever replaces centralized Bitcoin will be at a great head start to where Bitcoin was when it started.
reply