Crypto was never about putting money back in the hands of the working class, it was just another avenue for wallstreet to speculate and bet on, hence why the big holders of it are hedge funds and wealthy investors and not average working people.
My turn on the lathe: we will see, within the next five years, a bitcoin bailout. Because of the concentration in hedge funds, if bitcoin collapses to its real value (zero) and leverage in the system, line will go down. One or two hedge funds will go bankrupt and congress will act to address systemic risk
it’s just an avenue that the wealthy see as an opportunity to become the ultrawealthy if they can get in. Every few years there’s something like this that gives them an opportunity to cash in. It was apps and smart phones in the 2010s, it was .com shit in the 90s/early 00s.
Crypto was never about putting money back in the hands of the working class, it was just another avenue for wallstreet to speculate and bet on, hence why the big holders of it are hedge funds and wealthy investors and not average working people.
My turn on the lathe: we will see, within the next five years, a bitcoin bailout. Because of the concentration in hedge funds, if bitcoin collapses to its real value (zero) and leverage in the system, line will go down. One or two hedge funds will go bankrupt and congress will act to address systemic risk
deleted by creator
:hst-gun: step away from the lathe!
it’s just an avenue that the wealthy see as an opportunity to become the ultrawealthy if they can get in. Every few years there’s something like this that gives them an opportunity to cash in. It was apps and smart phones in the 2010s, it was .com shit in the 90s/early 00s.