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IS BITCOIN THE COIN OF THE MASSES?

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@nonsowrites
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My article today will be based on some of the points discussed in this post by @dragosroua


Today I have come across different posts about bitcoin. They weren't your typical posts shilling the mother of all coins. Even Elon Musk who has been championing bitcoin and probably the face of bitcoin in 2021, called it a less dumb form of liquidity than cash (fiat).

It was refreshing to see things from a different viewpoint and I have begun to ask myself a few questions:

What happens after the bull-run? A bear-run obviously, right? Well some people think otherwise given the inflow of institutional money ( watch no more bear markets in bitcoin)

Now given everything that is happening in the crypto sphere, one can infer that bitcoin isn't going to the coin of the masses ( and certainly not ethereum). If these entities and institutions who are buying heavily into crypto become major players in the industry, then what difference is crypto from fiat?

Yes, the supply of Bitcoin is limited. Bitcoin is secure and transparent (trustless) but that changes nothing if it is dominated by a few players? Plus we cannot deny the speculative nature of crypto, which has been a major deterrent for many. And it is still the case today as the hype, greed, and gains outweigh fundamentals.

I am certain we can not ride this 'institutional money' hype forever. So what happens next? At some point the market will get smarter, so what happens next? I am certain a lot of people don't plan to hodl forever, so what's next? Do we keep speculating? Do we keep aiming for new highs? Is that all we can do here?

How do we topple a system that we are still very much part of? We speak about how bad fiat is but for the vast majority it is the only entry point into the crypto market. Will there ever be a point where people stop exchanging crypto for fiat?

I don't claim to be an expert in anything but if you ask me we need a massive reset. A lot of things aren't sustainable in the long run and we only tend to prolong the inevitable.

Maybe creating a trustless system is the first step in solving the corruption in our current financial system. Unfortunately, those who have profited from the old system are still major players in this new system.

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