Post
Topic
Board Bitcoin Discussion
Re: Big money bad for bitcoin in the long run
by
nullama
on 09/02/2023, 00:51:47 UTC
~snip~
This is totally incorrect. Bitcoin is meant to provide liberty from these institutions by enabling an alternative payment network. The involvement of institutions is not good for Bitcoin nor its market in the long term, in fact it adds to bitcoins volatility. It might seem like a more money from big entities entering the market/ecosystem is a good thing, but it isn't...as it is certain that exit value will be multiplied and completely withdrawn at some point in the future. None of these entities are using Bitcoin for its purpose and I am sure all of them are using it to profit, which does not benefit ecosystem members who are using it for its purpose.

Absolutely.

Bitcoin can be used without any company.

I think the main issue is that a lot of people are used to have someone telling them what to do and guiding them along.

I can see that some banks and other financial institutions are now offering "Bitcoin services" by using a debit card connected with a Bitcoin account. That's just nonsense. You don't really need a bank to use Bitcoin, but I guess people feel the need to be held by a company somehow.