The maximalists tell us Bitcoin will be the everything money in the future. How is this any different from what we have now? We have the USD which allows for massive power over the global community. Yet the maximalists want to recreate the same system with Bitcoin. But it is decentralized is the claim. While I will buy that mining is decentralized (although people make a valid argument against that), the token distribution will not be.
In this video I discuss how Wall Street is in the process of taking over Bitcoin. For this reason, we need to understand how a complex system cna form with a multitude of options. This is one of the reasons I am pondering what can be created on Hive to enable us to fill some menetary holes around the world.
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BEER.You know, I try to find holes in your theories sometimes just to challenge myself but you make too much damn sense, lol.
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The whole world revolves around 1 thing which is more. We all can’t seem to get enough of it. So personally, I won’t blame Wall Street if they just want more. But in getting the “more”, they should also consider we that are investing to survive.
Cool sunglasses though…
Exactly, while I have reserves in Bitcoin, it is the whole variety of crypto which is exciting
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Have you ever think why create such a variety of bitcoins? I think it makes sense.
It makes me wonder if HIVE will be bought up by Wallstreet if it does take off. After all if they just keep buying, eventually they will have a decent amount of control.
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Very interesting take, but will there be another reserve crypto currency 💴 in the near future (out lifetimes)?
I have my doubts… after all the BtC Story is very powerful and impossible to replicate.
So that's what they call it, "Bitcoin maximalists." I think this book (The Bitcoin Standard by Saifedean Ammous) that I a reading now is one of them.
Summary:
In this video, Task discusses the concept of recreating the financial system and criticizes Bitcoin maximalists for their narrow mindset. He argues that putting all faith in Bitcoin as the only solution is shortsighted, as it would lead to a replication of the existing system where a few elite entities control everything. Task advocates for a multi-pronged approach to financial systems, emphasizing the need for diverse collateral options like Hive's HBD stablecoin. He also explores the future potential of blockchain technology and the importance of leveraging platforms like Hive for building a more inclusive and resilient financial ecosystem.
Detailed Article:
Taskmaster4450's video delves into the notion of redesigning the financial system and challenges the prevailing beliefs of Bitcoin maximalists. He criticizes the mindset that dismisses traditional financial systems entirely, asserting that the cryptocurrency domain often vilifies fiat currencies without a full comprehension of their operations. Task highlights the erroneous narratives circulating in the crypto space regarding government monetary policies and the role of institutions like the Federal Reserve.
The discussion pivots towards Bitcoin maximalists and their staunch advocacy for a unipolar currency world centered around Bitcoin. Task critiques this perspective, arguing that a world where Bitcoin reigns as the sole currency would inevitably accrue wealth and power in the hands of a select few, essentially mirroring the flaws of the current financial system. He cautions against overlooking the importance of creating a diverse array of collateral options and stablecoins, such as Hive's HBD, to foster a more inclusive and resilient economic landscape.
Task emphasizes the need for a nuanced approach to financial systems, rejecting the idea of a singular dominant token to address all monetary needs. He predicts a proliferation of governance and transactional tokens in the coming years, envisioning a diverse ecosystem of tokens for various applications. Task also underscores the scalability and transaction speed advantages of platforms like Hive, advocating for their utilization in shaping the future of economics and money.
The video concludes with Task encouraging viewers to explore innovative solutions and leverage technologies like blockchain to reshape the economic and financial landscape. By embracing a multi-faceted approach and tapping into platforms like Hive with their advanced capabilities, Task believes in paving the way for a more dynamic and inclusive future in the realm of finance and cryptocurrency.