When discussing Bitcoin, one of the investors opined that those who already own Bitcoin are early adopters. HODLers face many risks and rough edges.
Further clarifying, “By the time Bitcoin is safe, private, and frictionless to use, the great wealth transfer will be complete. There will be little alpha remaining for laggards to capture.”
Yet another BTC enthusiast expressed that the Bitcoin price is largely held steady and honestly down by all of the cryptocurrency exchanges. He further stated that it is getting harder with individuals taking bitcoin to their wallets. However, he opined that Code Is Law.
Paolo Ardoino, recently tweeted: “Keep layer1 as simple as you can. Be like Bitcoin.”
Ivan on Tech, tweeted: “Bitcoin is inevitable. Banks are now laughing at Bitcoin, just like Blockbuster was laughing at Netflix. They are laughing themselves into irrelevancy.”
Further, Ivan made a reference to JPMorgan Chase & Co by stating, “Laughing publically and hoarding privately.”
JP Morgan is now allowing clients to transfer USD to top crypto exchanges.
There are practically experienced Bitcoin investors who have counter theories to Bitcoin Supremacy. One of them stated, Yet Bitcoin maximalists are laughing at the faster, cheaper, and more decentralized alternatives while paying $5 in fees to send a $1 transaction. They are laughing themselves into irrelevancy.
Sydney Ifergan, the crypto expert, tweeted: “There are several dimensions to Bitcoin (BTC) supremacy; however, nothing can be 100% everything. No matter what, BTC is the master template. Better versions pick it all from Bitcoin.”
Professional exaggerations apart some opine that neither central banks nor blockbusters laugh at anyone. Each of them is busy with what they have to do. No matter what, it has been common in history to ridicule groundbreaking ideas.
Bitcoin will only be a valuable tool when it is co-opted by international bankers. Many consider the Bitcoin is not a credible solution to fractional reserve banking.
Demystifying Bitcoin is considered to be crucial for adoption as a lot of people find it difficult to understand the basics. The current pandemic has made people rethink their economy. While Bitcoin is down at the moment, when the lockdown is over, and the economic impacts are felt by many, people will realize the importance of Bitcoin.
The quarantine period was a great technological accelerator. It is expected that it would do the same for Bitcoin adoption. Anyone who survives the pandemic is indeed lucky, and they will learn to take a new look and life and economy too.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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