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RE: 4 Reasons Why Bitcoin Will Not Be The World's Reserve Currency

in LeoFinance3 years ago

No. 2 is not true IMO. Not sure how you define "free market", but since the BTC in existence are traded on multiple exchanges without apparent state interventions, I would say, this makes it a free market already. The cap of 21 or 25 mio. is completely irrelevant, as the value will adjust. If a good is more scarce, its value will be higher and vice versa, therefore you have 8 decimals. Main point, it can´t be inflationed by a small group, like Fiat money.

No. 3 is likewise not true IMO. Money can be tyranny regardless if fixed or not, as long as the governance of that money is ruled by tyrants.
So some superwealthy people will accumulate all the BTC? Bad luck for them, since already half of the BTC (probably even more) is currently NOT in the hands of the superwealthy. Anybody can get some NOW, it is all open for grab. If some prefer to stick with Fiat, well it is their decision, you can´t blame the rich on that.