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June 05, 2017, 11:04:02 PM |
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When people say "food for thought" this the type of article they're talking about.
The data Zeptochain uses to project the possibilities of price and growth going forward bring about a lot of wonderlust. Could growth really unfold in this exponential manner? If we've come this far at this rate why not continue at the same rate going forward?!
But Zeptochain contradicts himself too. Bitcoin can't become "the most important payment system" by 2020 if the price is going to grow as he predicts. No one would spend bitcoin on something today that will be cheaper in bitcoin tomorrow. The price growth rate will end the use of Bitcoin as a currency.
I think that's a perfect scenario!
The only certainty in investing, and therefore Bitcoin, is that the price growth won't continue at the same rate we've seen in the past 8 years. Past performance is never indicative of future results.
But his points on empowering those with capital (those with money now have the easiest opportunity to make more money tomorrow) and how "[bitcoin] denies leverage by third parties of the value they hold" is spot on. We should all be more concerned with how banks can get a piece of the action from us investors, right?
And I suppose I have to agree with him that constraining transaction throughput would be in the best interest of the good, warm smile that greats me at my corporate bank. I would miss that smile every day.
I think Zepto is on to something...collapse of the current financial system would be bad for everyone. Bitcoin's adoption should be kept at bay. Let's agree to tell everyone that the blockchain technology really is too complicated to explain..."you just wouldn't understand", that's what I'll tell my friends.
I'm starting to feel better about all of this. Really, I am.
TL,DR; Zepto just convinced me that a hard fork would be good for bitcoin...damn you Zepto, damn you.
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