Why Was Bitcoin Created?
Satoshi Nakamoto claimed he was upset with bank fees and believed banks were abusing their power.
In Bitcoin's genesis block, Satoshi wrote:"The Times 03/Jan/2009 Chancellor on the brink of the second bailout for banks."This shows Bitcoin was designed to bypass the banking system.
Failed Pre-Bitcoin Attempts:
Before Bitcoin, several digital currency attempts failed:
DigiCash (1989) – David Chaum
E-Gold (1996) – Douglas Jackson and Barry Downey
B-Money (1998) – Wei Dai
Bit Gold (1998) – Nick Szabo
Hashcash (1997) – Adam Back
RipplePay (2004) – Ryan Fugger
Liberty Reserve (2006) – Arthur Budovsky
Why Did Bitcoin Succeed Where Others Failed?
Decentralization: Satoshi gave Bitcoin to the world without taking royalties or control. Instead, control was distributed to those running nodes and mining.
Conclusion: Bitcoin was a libertarian project, freeware under the MIT license, designed to avoid reliance on banks and institutions.
It is fair to say that without these characteristics, Bitcoin would have failed like its predecessors.
What Is Happening Today?
1. Decentralization:
Michael Saylor purchased 5% of Bitcoin.
China and the U.S. each hold 2.5% of Bitcoin, and the U.S. plans to acquire 20% of the total supply.
Major banks are buying
BTC, and top Nasdaq companies are holding it as a reserve.
The vultures smell the money and are trying to gain control.
2.Disconnection From the Banking System:
This is gone. Banks now offer ETFs and accept Bitcoin. Satoshi’s dream has become a nightmare.
3. Retail Investors:
Retail investors are still here, pushed by the narrative and billionaires praising Bitcoin to keep them invested.
Yet, 57% of Bitcoin is owned by the very people Satoshi aimed to liberate them from.
river.com/learn/who-owns-the-most-bitcoin/
What Could Make These People Sell Their Bitcoin?
All previous attempts at virtual currencies failed because they lacked independence and decentralization.Does Bitcoin still meet these requirements? Not anymore.
Every time institutions and banks buy Bitcoin, they undermine the very reason it attracted retail investors.
Think about it: President Trump pinned the Bitcoin whitepaper in the Oval Office. Now, it's a symbol of control: "I own you. You failed, Satoshi."
The Hidden Agenda:
The wealthy elite are rich in USD. Their goal is to keep the USD as the primary currency. By owning Bitcoin, they ensure that retail investors lose their money to them. They won’t let billions flow to a humanitarian, independent project.
The Lord of the Rings applies perfectly to reality. This is unfolding right before our eyes.Where is Gandalf? Who will save crypto?
The Harsh Reality:
Every morning, I go to the bathroom and create something unique. But it is worthless.If Bitcoin loses decentralization and falls under institutional control, the only difference between my stool and Bitcoin is that billionaires are spending billions on it. Without the people’s support, it won't work. Bitcoin is just software that nobody uses in daily life. Compared to Microsoft Windows or Office, Bitcoin is insignificant.
CurrentBTC Price: $86,000 - Previous All-Time High: $69,000
Difference: Only $17,000 (a $340 billion increase in market cap)
With constant media hype, influencers, and institutional backing, Bitcoin is still struggling to surpass its previous high from four years ago by more than 10%. Retail investors are getting bored. They are not interested in something controlled by the U.S., banks, and billionaires.
It Only Takes Two Clicks to Sell BTC:
For example,
TON is a rogue coin resisting government pressure (I do not own TON), but it is a potential alternative to Bitcoin.
If retail investors sell their Bitcoin for something else, given all the reasons mentioned above, then Bitcoin is dead. The king is dead long live the (new) king!
Satoshi Nakamoto claimed he was upset with bank fees and believed banks were abusing their power.
In Bitcoin's genesis block, Satoshi wrote:"The Times 03/Jan/2009 Chancellor on the brink of the second bailout for banks."This shows Bitcoin was designed to bypass the banking system.
Failed Pre-Bitcoin Attempts:
Before Bitcoin, several digital currency attempts failed:
DigiCash (1989) – David Chaum
E-Gold (1996) – Douglas Jackson and Barry Downey
B-Money (1998) – Wei Dai
Bit Gold (1998) – Nick Szabo
Hashcash (1997) – Adam Back
RipplePay (2004) – Ryan Fugger
Liberty Reserve (2006) – Arthur Budovsky
Why Did Bitcoin Succeed Where Others Failed?
Decentralization: Satoshi gave Bitcoin to the world without taking royalties or control. Instead, control was distributed to those running nodes and mining.
Conclusion: Bitcoin was a libertarian project, freeware under the MIT license, designed to avoid reliance on banks and institutions.
It is fair to say that without these characteristics, Bitcoin would have failed like its predecessors.
What Is Happening Today?
1.
Michael Saylor purchased 5% of Bitcoin.
China and the U.S. each hold 2.5% of Bitcoin, and the U.S. plans to acquire 20% of the total supply.
Major banks are buying
BTC, and top Nasdaq companies are holding it as a reserve.The vultures smell the money and are trying to gain control.
2.
This is gone. Banks now offer ETFs and accept Bitcoin. Satoshi’s dream has become a nightmare.
3. Retail Investors:
Retail investors are still here, pushed by the narrative and billionaires praising Bitcoin to keep them invested.
Yet, 57% of Bitcoin is owned by the very people Satoshi aimed to liberate them from.
river.com/learn/who-owns-the-most-bitcoin/
What Could Make These People Sell Their Bitcoin?
All previous attempts at virtual currencies failed because they lacked independence and decentralization.Does Bitcoin still meet these requirements? Not anymore.
Every time institutions and banks buy Bitcoin, they undermine the very reason it attracted retail investors.
Think about it: President Trump pinned the Bitcoin whitepaper in the Oval Office. Now, it's a symbol of control: "I own you. You failed, Satoshi."
The Hidden Agenda:
The wealthy elite are rich in USD. Their goal is to keep the USD as the primary currency. By owning Bitcoin, they ensure that retail investors lose their money to them. They won’t let billions flow to a humanitarian, independent project.
The Lord of the Rings applies perfectly to reality. This is unfolding right before our eyes.Where is Gandalf? Who will save crypto?
The Harsh Reality:
Every morning, I go to the bathroom and create something unique. But it is worthless.If Bitcoin loses decentralization and falls under institutional control, the only difference between my stool and Bitcoin is that billionaires are spending billions on it. Without the people’s support, it won't work. Bitcoin is just software that nobody uses in daily life. Compared to Microsoft Windows or Office, Bitcoin is insignificant.
Current
BTC Price: $86,000 - Previous All-Time High: $69,000Difference: Only $17,000 (a $340 billion increase in market cap)
With constant media hype, influencers, and institutional backing, Bitcoin is still struggling to surpass its previous high from four years ago by more than 10%. Retail investors are getting bored. They are not interested in something controlled by the U.S., banks, and billionaires.
It Only Takes Two Clicks to Sell BTC:
For example,
TON is a rogue coin resisting government pressure (I do not own TON), but it is a potential alternative to Bitcoin.If retail investors sell their Bitcoin for something else, given all the reasons mentioned above, then Bitcoin is dead. The king is dead long live the (new) king!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.