Look what the bitcoin opponents wrote...Sun Tzu: "know thine enemy":
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4985877....we analyse in this paper the impact of a Bitcoin-positive scenario in which its price continues to rise in the foreseeable future. What sounds intuitively promising or at least not harmful is problematic: Since Bitcoin does not increase the productive potential of the economy, the consequences of the assumed continued increase in value are essentially redistributive, i.e. the wealth effects on consumption of early Bitcoin holders can only come at the expense of consumption of the rest of society. If the price of Bitcoin rises for good, the existence of Bitcoin impoverishes both non-holders and latecomers. While previous discussions on the redistributive effects of Bitcoin assumed that badly timed trading was a necessary condition for losses, this paper shows that neither poor timing of trades nor holding Bitcoin at all are necessary for impoverishment under a Bitcoin-positive scenario.
^^^ sounds completely ludicrous as the same could be said about buying Coca-Cola company 100 years ago or NVDA/AAPL lately.
I feel really impoverished now because i sold my AAPL in 2000. /s
TL;DR They claim that "This redistribution of wealth and purchasing power is unlikely to occur without detrimental consequences for society. Even if the Latecomers cannot attribute their loss of purchasing power, they will feel a malaise and frustration, that will contribute further to an ever more split society." I cannot disagree more.
Let's have a survey.
Who wrote that paper? Cross your answer.