RE: Bitcoin’s Original Sin
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Spot on ! I have a feeling that the end state of Bitcoin will be like the Talents of the Classical Greek world. Something so individually valuable that it is only useful for transactions between states.
As time goes on, more and more BTC will be bought by institutions, and even more will be gathered up by governemnts. "Confication of criminal assets" or "Strategic reserves", however they want to dress it up, the result is the same. Those of us with small retail holdings will eventually see a price where we'd be stupid not to sell, especially as the price can be manipulated to trash our value if we hold out too hard.
Eventually, BTC will just be something that lives in government vaults, a kind of digital Fort Knox. Private ownership may even be outlawed. The government reserves will underpin endless printing of worthless fiat CBDC's, with the (untrue) claim that it's something of value backing the currency they issue.
It's a shame, the project held so much promise. Let's all work hard to make Hive a success so that HBD (along with Monero and one or two others) can remain a stablecoin truly outside the control of governments and the legacy financial institutions that are part of them. Just a shame most stablecoins are pinned to the failing dollar - I reckon we should move HBD to gold-pegged.
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