Reminder: Bitcoin Was Invented to Replace the Current Flawed System, Not to Be Absorbed Into It. Stop getting excited about BlackRock and Fidelity accumulating more BTC every day, and be aware of what’s coming.
by sylsau
Reminder: Bitcoin Was Invented to Replace the Current Flawed System, Not to Be Absorbed Into It. Stop getting excited about BlackRock and Fidelity accumulating more BTC every day, and be aware of what’s coming.
by sylsau
3 comments
When it is so unstable and volatile, how could it replace the current system? If I give someone $100 in US cash today, I know I’m getting something that will still be of that value 6 months from now. As the recipient, I pretty much know exactly what I can buy 6 months from now. With BTC, it’s totally unknown. Would I give them 100BTC today for something and that 100 would be worth 200 if I waited a month? If I sell something for 100BTC what could I buy next month with it, would it be worth only 50? Instability cannot be a replacement for stability.
The current system works much better though. It can handle millions of transactions a second. Plus my money is secured from theft in my bank account. I don’t have to worry about losing all my money because I lose my key.
Blackrock if they acquire enough Bitcoin and Bitcoin goes mainstream the Blackrock will essentially be the Fed, with less federal oversight.