Title: Bitcoin Is Being Hijacked And You Don’t Even Know It | Whitney Webb Source:
[None] URL Source:https://www.youtube.com/watch?v=xLm61m8hIx4 Published:Apr 21, 2024 Author:Whitney Webb Post Date:2024-04-21 17:21:46 by Horse Keywords:None Views:136 Comments:1
The freedom value of Bitcoin is in its utility value as a currency, not as a store of value. I'll agree with that. And there is Gresham's law which states that bad money will drive out the good, and bitcoin is far better than centralized fiat currencies, so that is its competition. At least until there is a fiat collapse.
But people are free to demand payment in bitcoin, excepting legal tender laws which in a fiat collapse scenario will have limited power.
My concern is that Big Finance will do the same thing to bitcoin as they've done with gold and silver, and that is to make paper versions of it to transact with which would artificially increase the supply of bitcoin. Big Finance can do wizardry with fiat currencies that is so mind boggling the average person can't even understand it, and as we know they've done it with gold and silver, both of which are also in limited supply as bitcoin is.
What bitcoin has to do is simply have honest free market pricing. If it can maintain that, then it won't be defeated. That's what I say.