What the hell happened here over the weekend! - you've all certainly been busy!
I note that you are now adopting the tecate (another early morning poster) line that the community is not seeking to overturn the existing order. In your case that would appear to be resignation to reality for it seems to me that if crypto did per chance blow the central banking conspiracy out of the water you would be in Shortie Paradise.
I don't know how many times you have to be told this but there are very few people that believe that Bitcoin / Crypto is going to replace FIAT in its entirety. I would suggest that of those that do, they are pretty new to the space and don't have a full understanding of it. However, you continue on with your assumption.
Bitcoin/Crypto does some things well - and FIAT has it's own merits. Therefore, Crypto will canabalise what are today certain lucrative revenue streams of the banks or those allied to them. As regards the 'resignation' remark, I'd have to have changed my position for this to be relevant...that's not the case. I view myself as a pragmatist.
As a small example of the assumptions you are making, I am NOT an 'early morning poster'. It may appear that way - but that's not the case. Sometimes folks draw the wrong conclusions...the other recent example being the accusation that me and BigShort were the same poster!
One more for the moment. Bitcoin is not a technology. Blockchain is a technology.
Someone has already corrected you on this - but I'll reinforce the point. You cannot distinguish between Bitcoin and the
Bitcoin blockchain. They are one and the same thing - and yes, it is a technological advancement.
Can technology be copied ? Sure. You have been invited countless times to setup Marmalade coin - see how that fares as I can assure you that the argument that Bitcoin is not finite because we can have 1500 odd coins is nonsense. Any without merit (of which there are a shed load) will eventually disappear. Those that do have merit will carry out - but they may have a completely different application to bitcoin. Those that have merit and wish to supercede bitcoin may well do so...or again, if they don't, they will fall by the wayside. Bottom line - having loads of crypto's does not dilute the finite resource that is bitcoin.
You could use the same analogy with FIAT. If you started a new FIAT tomorrow, does it dilute the strength of the USD or Euro?
But tecate has also been helpful. Whilst he clearly is more part of the religious wing of the community than fp, nonetheless he knows his onions. Amateur followers should take note of tecate's warnings on Tether and take special note that he is not holding bitcoin at the moment.
Firstly, I'm a pragmatist. I'm NEVER religious about anything....perish the thought! Otherwise, thank you for suggesting that I 'know my onions'....however, regrettably I am only scratching the surface in my knowledge of crypto generally...I either have not got the understanding or can't keep up as the space is moving at such a rate of noughts.
You are right to say that I do have concerns around Tether. It's one thing that I disagree with Negotiator on. Market cap includes BTC that has been lost (of which we don't know how much but it considered to be sizeable), that which is being HODL'ed and generally not in circulation. My concern is that the injection of btc via Tether affects the liquidity of BTC i.e. the money that is ACTUALLY being swirled around. I hope I'm wrong but it seems that way to me.
Furthermore, whichever point of view is relevant in that respect, it will not mean the end of the btc project. It may burn investors once it is finally outed (if ever?...as I can't see the mechanism for that right now). But you're quite right - I simply don't feel comfortable holding one btc until that issue is somehow dealt with.