Post
Topic
Board Economics
Re: Why Bitcoin Is Going to Succeed: The Reason Nobody Is Talking About
by
ThemThereHills
on 14/04/2013, 18:11:00 UTC
While I am inspired by your enthusiasm, I think that you are assuming people like the Winklevii twins actually believe in BTC. Even if they claimed to, i still wouldn't know it for a fact. Their economic profile points towards them merely attempting to hoard and turn a huge profit. Even if they did(and others), what does this mean?

Like you, I also believe that the rich nerds of the world, (i.e. silicon valley money and talent) are who is going to truly catapult BTC into the mainstream. People who want to make money, but are self made and worked their way up from the bottom which gives them the unique perspective of knowing what it's like to be outside of the financial inner-cirlce(rich). Not to mention the luck factor, but that is another discussion.
The Winklevii do not have this perspective. They were born rich. Their struggles are derived from a wholly different perspective. Their privilege has enabled them to enjoy the best of everything with out necessarily deserving it. Do you think they were accepted to Harvard on their own merit? If they were poor, they would have went to their local community college.

The main issue is that BTC is a new abstraction and we are still making sense of it.

Anyway, I only attempt to be slightly contrary to your post because a balanced perspective is the key to managing expectations.  Smiley