You inadvertently agree with my previous point that THE GATEKEEPERS run things. Sure crypto is open for all but STAKE is KING.
Actually I did not since one coin does not make up the totality. Yes Bitcoin will eventually be in the hands of the major firms we all know. However, there is going to be hundreds of trillions in value in crypto/digital assets that will be spread at all layers. Sure, the elite will have a bunch, I would presume, but so will a lot of other people.
As for the situation with Hive/Steem, to start, that proves my point. Here was a big money player (we will call a gate keeper) who wanted to take over. While he did get a hold of Steem, people were free to fork it elsewhere which is what they did. Now there is something different from what was operating on Steem enriching many more along the way.
The people used to say "steemit needs to attract big investors" but when one came along the people said "NOOO.. RUN! SUN IS THE BOOGIE MAN!"
I always found the calls for big money and Wall Street into crypto, let alone Steem, to be rather curious. To me, why would people wish upon the entry of those who were gate keepers and controlling the existing system? Obviously, they were just looking at mooning so they could cash out with huge gains. That is what 90% focus upon, the short term wealth generated for them i.e. token price.
However, if we look at things from the totality perspective, a lot can operate outside Bitcoin where the big players are going. In fact, I will not be surprised to see the multiple returns on a number of other tokens exceed BTC in the next 5 years.
Imo, the one out: technology in the hands of the user. When we can carry a usb super computer or even have it implanted and wired into our psyche, we are then the ones that sustain systems. Big money means nothing if the systems that Elites seek to dominate don't have the support of the network/minds. Of course this also means money in general by then, means nothing.
Depends upon the time frame. Go far enough out and there will be little to no need for money. When physical items are produced for insignificant amounts, the present economic structure doesnt hold much weight since the scarcity they depend upon is erased.
Ultimately, we will have the Metaverse, or something akin to it. At that point, it comes down to control. If Facebook and the like are the controlling forces, then we are looking at a rough situation. On the other hand, if things spread out, and, as you mention, edge computing becomes the norm, than we will see a massive shift in power.
RE: Bitcoin Will Not Be The People's Money