Selling Bitcoin?

[KINGOFSHORTS]

I would disagree. BTC on average has increased 200% since it's inception.
I feel like the one thing you are missing is that you only see BTC in terms of the current fiat system.
I'd like to propose you an idea... what if BTC becomes the reserve currency or part of the new system? What if everyone adopts BTC and the world runs on a Bitcoin standard?

In human history, the rise of Gold was never recorded. Did it have the same volatility before it became the standard unit of account? Surely it must have while people had to change their former perceptions of what is "money". Throughout time as more people accepted it as a form of "money", people's perceptions changed.

BTC is the hardest form of money humankind has seen and has all the properties that make it better than gold. I personally believe my grandkids will be complaining to me that BTC is slow and uninteresting just like gold is now.

Just imagine before Gold....the volatility of seashells or livestock compared to Gold. Before Gold was accepted universally- there must have been humans who did not have access to (libraries/internet) to even have the idea that a piece of shiny rock can be worth trading all their sheep/produce for. And surely there must have been resistance to the idea just like there is now. But once it "clicked" and the smart people started shifting their wealth, sooner or later it becomes the hardest form of money people trust to trade with one another.

As Paul Tudor Jones has said before, BTC is "A Great Speculation"
But it's also betting on human ingenuity. And I for one, believe in price action being truth as well as human ingenuity.

Whats to prevent a new blockchain "Crypto" currency that is created by the lets say the EU/US/etc.. and now this new "FreedomCoin" is the standard ie banks and foreign entities decide this is what will be used and trusted?

Remember anyone can create a new Crypto. If the FED,ECB etc.. decide we will be the ones making the crypto standard and everything else is not legal for trade/bank interchange. then what?

 

[KINGOFSHORTS]

But my point is that they aren't. Poor people are too busy trying to make ends meet. They cannot put even $500 into BTC, which would be 1% of 1 coin. If you have many coins already owned by corporations or some lucky early investors, then you already have the issue that we have today, that most of the wealth is concentrated by just a fraction of the people on earth. Even if BTC goes to $500,000, it doesn't make poor people any better off, it just makes the already rich that much better off.

It is pretty much that. In addition who knows how many untold bitcoin wallets that are permanently out of the market because its in a landfill somewhere, especially early adopters who ended up mining quite a bit of BTC during the easy early days.

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html