Bitcoin: Shortie, But A Goodie.
When you’ve finished reading my story below, I’d like to know your opinion(s) and thought(s) on the subject matter:
Let me preface this story by saying: this story wasn’t meant to sound cynical, but rather some food for thought.
The Blockchain is the hottest tech buzzword in the world. It’s a well-designed software infrastructure, but I don’t understand how it solves the fundamental problem, which is: reducing institutional power.
Won’t they not only remain in power but also become significantly wealthier in the process?
Blockchain’s (and Bitcoins) existence was primarily built on the idea that there can be a currency that lives outside our current systems. It was designed to override the systems put in place, not intermingle (as it’s currently doing) with them.
Ripple (XRP) is leading the charge in most respects concerning regulation, but isn’t it doing a massive disservice to bitcoin and other currencies?
Isn’t the only way for this to work as intended to not work alongside institutions (i.e., SEC, Banks, Legislators); otherwise, what’s the point?
Won’t it serve only to make the institutions wealthier?
People are working their, excuse my language, asses off, day in and out to enhance this technology with the sole purpose of it living outside the current systems.
By the current trend though, when it’s all said and done, won’t these individuals, who believed in the great cause, have spent so much of their lives devoted to the cause only to have it ruined once again by institution and regulation?
So I ask, what’s the point of continuing?
Aren’t we now part of the problem by working on this because we will line the pockets of the large institutions and institutional investors?
Won’t the wealth gap will grow so out of proportion to the extent that the only classes in America that will be left will be Super Rich, Rich, and Super Poor?
Let me know your thoughts below.