LIVE: President Trump Delivers Remarks at Bitcoin Conference in Nashville
(rumble.com)
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How about the issue of 90% of bitcoin being held by hedge funds? Wouldn't that skew meaningful adoption of it as a currency?
90%? Source on that? Pretty sure you just made it up.
Yes, I just made it up.
Bitcoin being bitcoin, identifying who owns what is ... quite a puzzlement. You could probably assume that the top 1% of today's society owns the same percentage of bitcoin as the percentage they own of the rest of the economy.
Regardless of the precise unknowable number, the point is that an entrenched elite under the old system leveraged their corruption over time to become incredibly wealthy, and even their small hedge of bitcoin is likely to be magnitudes larger than the general public. Therefore, if we restart the economy with bitcoin, we'd be restarting with a deck stacked against the American worker, and stacked in favor of the owners of the legacy cabal system.
To me, that's a good enough reason to presume bitcoin won't become the standard, despite the numerous benefits of blockchain.
I think your assumption is exactly wrong. Remember that Bitcoin, when it first started back in 2009, was worth nothing. There were websites hosting “faucets” that would give you free bitcoins. And then after a few years it was worth a few pennies and started to gain traction as a currency for drug-selling websites like the Silk Road.
It’s more likely the holders of most Bitcoin were computer geeks, cryptography nerds, libertarians and druggies who used Silk Road.
According to other panels at this very same conference that trump talked at, the institutions are still researching and dithering over whether to buy Bitcoin. The elites you speak of are very slow moving so bitcoin’s 15 year existence is a mere eye blink to them.
Bitcoin is your chance to get in before all the bankers, VCs, hedge funds, etc. it’s the exact opposite of a typical investment opportunity that is only afforded to Accredited investors.
I wouldn’t be surprised if blockchain is NSA tech leaked by white hats as part of the Q operation. Unfortunately many of you are just believing low effort FUD rather than doing your own research. Look deeper.
You could be right. Knowing who owns the pie is currently impossible. Even if it's as you described, it'd still be biased. A more satisfying bias than what I presumed, but I get the feeling that Q wants to look after the grunts as much as the generals, if not more. A completely subjective viewpoint, but there it is. So I think it's a temporary part of the op that will fade away. Obviously just an opinion. By all means, mine away. It's not like I am advising people to stack something else; I'm just skeptical that it's the end solution.
Distributed ledger systems have been around for centuries at least. But tech has definitely made them much more robust. It's a good thing overall.
Owned.