Thanks Jeff, great hard hitting points as usual. Many theorize that Bitcoin is actually a digital ponzi scheme set up by the system to get people out of precious metals(obviously not a free market) and into crypto so that they can do the massive sell off as you have mentioned before, people would just buy more. But my point is so long as there is any unit of value to measure wealth or value will not someone else own that value whomever determines that open market, even if it is decentralized? I am saying, lets find a solution because to me Bitcoin looks like the lesser evil in a world based on ponzi schemes.
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People that theorize that Bitcoin is a ponzi via the globalists are just people who can't read code, or don't want to take the time to understand blockchain technology.
A corporation could also be called a ponzi scheme, in that it grows by value being put into it, but that value crashes when people no longer buy whatever they are selling. Bitcoin was intended to be decentralized, open and anonymous but is operated primarily by four nodes now, who are scheduled to split in August this year, silk road is evidence that it can be tracked and while it remains a open market regulators want a piece of it so they can "stabilize the market". Yes code is law, I am not a computer programmer, but I can see Bitcoin is programmed for scarcity, just like FRNs. The code says it will be at 20K USD when the last block is mined, from there on it will be whatever anyone will pay for it, but who will use it when it costs 1K USD to send 10K?
Yes there are some issues but we are still at the beginning of this technology. With all the money flowing in you will get the best guys out there involved and this will take it to a new level. But todays issues need to be overcome as, like you said, who will use it when transaction fees are through the roof or when a transaction takes days.