Bitcoin as a 'currency', Bitcoin as a 'security': There is no apparent value proposition for either, yet the enthusiasts will flock like sheep to its heat, as in psychological comfort.
There are virtually uncountable ways to structure a trade that offers volatility, a key feature of BTC; do we economic actors need a speciously derived vehicle for such as that?
Some of my other objections to BTC:
* Medium of Exchange? No, as it will never achieve widespread use among populations.
* Measure of Relative Value? Hardly; its price/vol is all over the place, so what is its intrinsic value?
* Standard of Account? After the many years following its intro it still struggles to achieve that status.
* Store of Value? Not demonstrated so far and given its lingering problems, volatility and potential to attract malefactor participants from tech backgrounds (complexity enhances potential for fraud and miscreant behavior), one must question the validity and viability.....of such a 'next BIG thing'.
Will central banks share or forfeit their respective monopolies on the issuance of currency? UNlikely
Another problem rarely mentioned in the financial press: There is an extremely concentrated position in BTC, et al, that is held by an elite few speculators (M Saylor, for one); this phenomenon results in extreme manipulation to increase said concentration for ever more manipulation by taking from 'weak hands', as more amateurs enter the trading arena, having been lured by the 'promise of quick riches'; these lesser-capitalized participants are fodder for the elite traders who have vast resources for maintaining the scam through PR, propaganda and algo-driven trades as they accumulate others' capital...a 'rinse and repeat' operation; It's egregious that the regulators don't address this.
Then there is the equivalent irrelevancy that arises from some nefarious ideology, once it's discovered there's no 'THERE, there'.
ESG is one such example of an odious ideology wrapped in 'noble-sounding' rhetoric, meant to fool as many adherents as PR budgets will allow. When worldwide currency expansion is propagated at such a prodigious and alarming rate, such as in the last decade +, strange 'creatures' arise to meet the demand for 'new' ways to conduct economic human interactions. CRYPTO is one such 'creature', but don't look too closely.
This is another scam to divert attention away from REAL problems that are NOT being addressed, analogous to the Covid scam, the US intervention in Ukraine in its proxy war with Russia, et al.
Bitcoin as a 'currency', Bitcoin as a 'security': There is no apparent value proposition for either, yet the enthusiasts will flock like sheep to its heat, as in psychological comfort.
There are virtually uncountable ways to structure a trade that offers volatility, a key feature of BTC; do we economic actors need a speciously derived vehicle for such as that?
Some of my other objections to BTC:
* Medium of Exchange? No, as it will never achieve widespread use among populations.
* Measure of Relative Value? Hardly; its price/vol is all over the place, so what is its intrinsic value?
* Standard of Account? After the many years following its intro it still struggles to achieve that status.
* Store of Value? Not demonstrated so far and given its lingering problems, volatility and potential to attract malefactor participants from tech backgrounds (complexity enhances potential for fraud and miscreant behavior), one must question the validity and viability.....of such a 'next BIG thing'.
Will central banks share or forfeit their respective monopolies on the issuance of currency? UNlikely
Another problem rarely mentioned in the financial press: There is an extremely concentrated position in BTC, et al, that is held by an elite few speculators (M Saylor, for one); this phenomenon results in extreme manipulation to increase said concentration for ever more manipulation by taking from 'weak hands', as more amateurs enter the trading arena, having been lured by the 'promise of quick riches'; these lesser-capitalized participants are fodder for the elite traders who have vast resources for maintaining the scam through PR, propaganda and algo-driven trades as they accumulate others' capital...a 'rinse and repeat' operation; It's egregious that the regulators don't address this.
Then there is the equivalent irrelevancy that arises from some nefarious ideology, once it's discovered there's no 'THERE, there'.
ESG is one such example of an odious ideology wrapped in 'noble-sounding' rhetoric, meant to fool as many adherents as PR budgets will allow. When worldwide currency expansion is propagated at such a prodigious and alarming rate, such as in the last decade +, strange 'creatures' arise to meet the demand for 'new' ways to conduct economic human interactions. CRYPTO is one such 'creature', but don't look too closely.
This is another scam to divert attention away from REAL problems that are NOT being addressed, analogous to the Covid scam, the US intervention in Ukraine in its proxy war with Russia, et al.