And if it were, against all odds, designed by the global elite, it is a failure in any case. Don't stare yourself blind on the "market cap" of bitcoin: that's nothing else but one big huge speculative bubble, driven by greater-fool games.
No man.
Most BTC is hodling. MAJOR MISTAKE IN ANALYSIS!!
That is exactly the same analysis. The only reason people hodl, is because they wait for greater fools. Hodling stuff doesn't give it economic value, because no value is created by doing so. This is also exactly the reason why bitcoin's market cap is fake if you see it as an illustration of the total amount of value stored in it. The day the bubble bursts, this deflates to almost zero.
You must have flunked economics or forgot the fundamental canons of capitalism.
Money is a transferable utility. Capital accumulation as a form of investment can increase the utility of economy. The winners and losers form an emergent order of fitness of capital accumulation.
Hodling BTC increases the utility of Bitcoin by increasing its market capitalization. Fungible money gains utility as it gains hodling because it means more people are willing to accept more of it (which has nothing to do with merchants accepting it ... the elite want to replace gold with
a better gold for their reserves).
The overall point is that all this speculation is preparing BTC's market cap to grow enough that more and more billionaires start using it for their unit-of-account.
Over time the small block size will (via exorbitant transaction fees) kick the riff-raff off of Bitcoin and so it will become the exclusive domain of the wealthy. And then the speculative noise that causes you to be a Bitcoin naysayer, will be gone.
The whales and dolphins that are hodling BTC are not the simpleton minnows and greater fool victims. They are very astute investors who understand the world is fundamentally changing.
I am sorry. I am weary of replying to your dumb posts. (that means if you write some more dumb shit, I might just put you on Ignore bcz its getting redundant)
I thought you had a university education.