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Foxx

The Bitcoin Ecosystem

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Eleonora

One gets the idea quickly. Too many financial guru's leaving to be officers or owners in the BTC chain.

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Foxx

Inspired by Greenmeadow, I have decided to publish this to the public portion of the forum as well.

 

 

The following is in response to a post that goes into some depth of manipulations of cryptos, being bullish in the near term, belief that blockchain is the future and the coming transistion of the current financial system from cash to crypto.

 

 

I agree 100%, with a small caveat however.

 

In no way will they ever give up control of the monetary system, nor the Keynesian economic model. If they were to adopt BTC or any other existing crypto they would be ceeding control of the monetary supply over to an entity that is beyond their control. Not to mention that BTC is finite and as such is deflationary in essence which flies directly in the face of the Keynesian model in place. For these two reasons and many more that I can possibly think of, but more so for all the reasons I can't think of, they will create their own state sponsored crypto. Compound this with the fact that at any point, GUS can claim that BTC is a competing currency and it would immediately be illegal to own and/or use.

 

I don't even think the world bank would let BTC become an international settlement vehicle. I see the need for a crypto to become an international settlement vehicle but it will be one the nations of the world get together and establish. In no way will a currency that the avergae pleb may hold be given a value to launch it into that stratosphere.

 

Let us not forget, decentralization went out the window a long time ago (well, long ago in crypto terms). The opportunity to cut the middle man out (TPTB) never really existed. When you consider that the fringe only makes up a certain percentage of the overall pop. Add to that that the main stream is more than willing to put their collective behind the faith of GUS and we have a scenario that suggests we never really stood a chance.

 

What I can see happening, is tokens surviving. For one thing, tokens do not/will not directly compete with GUS's choice of a state sponsored vehicle. They will represent a way to buy what that platform is selling or as a means of holding a stake in that company, much like stocks represent today. If this is true, then the question then becomes, which companies/tokens will survive. To me, this is the $64k question.

 

I would like to be wrong in my comprehension here and if anyone can present a reasoned, logical argument to the contrary, I want to hear it because I want to be wrong. However, I do not think that I am at this point. So come at me and change my line of reasoning. Please.

 

Blockchain is the future. BTC is not blockchain however.

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