If you’re a Bitcoiner, subscribing to diminishing returns is fundamentally irrational because it assumes that Bitcoin will plateau at what, 5-10% max of total global wealth and stay there for decades, if not centuries.
Unless you think it’s just digital gold, collateral, Manhattan granite, etc. Humanity deserves much more than that: the implied freedom of a full stack, global money.
Replies (9)
Yeah, the whole diminishing returns thing strikes me as a tad defeatist, like preemptively accepting failure to lessen the pain later. Weak sauce.
I mean, from what the xbt crowd has been saying, btc has lost its decentralization. It might lose steam.
I disagree. Return is the ratio of change in value to change in time. The change in value for large change in time is always the same…in the end that change in value is everything divided by 21 million. But each step along the way takes longer.
The people who buy 10 years from now will not benefit as much as those who buy now.
It will gain steam either way
—but centralization means “captured” so it would definitely “lose steam” with those people that want decentralized permission-less money.
BTC returns only diminish if productivity diminishes, which it won’t
Let the majority think that finishing returns is the future. You know that Bitcoin has the tendency to prove them wrong in a tremendous way.
Diminishing* not finishing
Right, I guess lose steam with the people I care about. I don’t want a global CBDC
