It’s too late to stop BitcoinGovernments can try but their window of opportunity is now welded shut Bitcoin is an erupting unstoppable volcano. Photo by Clive Kim from Pexels “ First they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build monuments to you.” Nicholas Klein
Now that the Bitcoin network is securing over a trillion dollars in value many around the world are beginning to wake up to its proposition. This is only after many years of calling it a fraud, comparing it to the tulip bubble and saying without doubt that “it won’t work”. Just goes to show you can’t take the words of any single person with which to base your own truth on. In order to fully understand anything you must take a deep dive on the topic and consume sources of all biases in order to develop your own informed perspective. Although this takes time and effort which is why the majority don’t do this and only parrot the surface level thoughts of single “experts” with a notable bias.
2020 was a coming of age year for Bitcoin, the March market crash and subsequent rounds of historic stimulus coupled with negative interest rates and bond yields well below actual inflation levels led many to look for alternatives outside of the traditional markets. This turmoil is the main reason Michael Saylor of Microstrategy decided with certainty to convert the company’s entire cash reserve balance to bitcoin. No one wants to be the first mover yet Saylor normalized it to the point where several other major companies followed soon after namely Square and of course Tesla. This has also sparked the rise in bitcoin ETFs and other professional investment vehicles which were not possible in the years before even though there were many attempts.Governments will likely if not already find it impossible to ban Bitcoin without shooting themselves and their economy in the head
Add to this the vast increases in retail volume and numb...