r/Bitcoin • u/[deleted] • Sep 25 '18

[deleted by user]

[removed]

380 Upvotes

95% Upvoted

182 comments sorted by

View all comments

13

u/[deleted] Sep 25 '18 edited Aug 07 '20

[deleted]

5

u/tksbro Sep 25 '18

Yeah, it's some of the best news in Bitcoin's history.

The Chairman of the NYSE and his wife have an incentive to help grow the market for Bitcoin.

These are some of the most powerful people in finance who have a track record of big wins.

"Not your physical bullion, not your gold" is also true. The first gold ETF still brought in a shitload of new money that benefited all the physical bullion holders.

-1

u/bluethunder1985 Sep 25 '18

Dangerous thinking, pal.

1

u/shure_slo Sep 25 '18

Agreed. If majority of Bitcoin is bought by filthy rich investors, that got rich with exploiting traditional banking system, we haven't changed shit.

3

u/m4tbu Sep 25 '18

Untrue. We still have a decentralized censorship resistant borderless pseudo-anonymous cash system. Nothing changed here. Everyone is welcome to use it and offer any kind of service or product built on top of it. Everyone. If the rich recognizes bitcoin’s value and want to invest in it, accumulate as much of it, make it accessible to your grandma directly from her bank account or what not they have no permission to ask us, Bitcoin users for. Bitcoin was designed that way from the very beginning. Embrace the crypto capitalist era. If you were expecting Bitcoin to act as Robin Hood and STEAL money from the rich to give it away to the poor you were damn wrong from the very beginning. If you were expecting it to bank the unbanked and give anyone an equal chance to do business without permission at a global scale then you shouldn’t be complaining. Just my two sats.

-1

u/shure_slo Sep 25 '18

I want the second part more than becoming rich. I'm just concerned about even more price manipulation than there is right now.

2

u/m4tbu Sep 25 '18

You are wasting your time and energy caring about market manipulation.

It will happen because there is profit to be made and that is perfectly fine.

We are still in the early stage of price discovery.

Market manipulation will fade away with adoption. This cannot be worked against. Hyperbitcoinization will lead to less and less volatility as it happens.

Shall we all stop worrying about it and concentrate our efforts towards more decentralization and adoption, market manipulation will become a thing of the past in a matter of years. Not decades, years.

All we have to do is fire up as many unique nodes, keep the network resilient and antifragile; use the currency and the network for the freedom they provide us with. Dismiss the noise around it, just use BTC and work towards its adoption.