Check This Out
So when the world's 0.1% meet to talk shop at Davos (and more privately) at the BB meetings. What do you think goes through their collectively filthy minds ? Here's a guess. The 2008 crash raked back in a lot of money and a lot of money which went up the funnel. Hoover Up Economics is the total opposite to it's public name, trickle down. Maybe, It kind of backfired.
There's More of us Than them
They know that us workers need to eat and be able to buy laptops, coffeemakers and soap or we'll riot and won't go to work. They know they can't eat paper. Someone has to keep the world economy ticking. How about this.. ? Maybe they decided that after the Greedy grab of the 2008 crash by the banksters, that they had taken a bite too much of the pie and they had almost stalled the global economy. So they would let crypto pump back in a few percent to the economy of the 99% they own.
Only a few percent of their wealth is untold riches for the masses. Crypto will create more millionaires than ever before. That's what they think the world needs. And the idea that you could make it in crypto is a tempting distraction from a systemic debt ridden world. I think it's a good wheeze and I'm only half joking when I say, this has been planned all along. The other half of me genuinely thinks they didn't see it coming, don't know what to do about it and are running scared with as much FUD as possible in an attempt to divert the middle classes from liquidating their stocks and gold into bitcoin. Hang on. Didn't I write an article about the CIA inventing digital currency back in the late 90's ? Oh yeah that was a trick article to see if you actually read the words. It said about half way down that I made it all up, except it was told to me by a spooky type in a darkened bar down a back street in Soho.. was that London or NYC ?
$437,413,798,219 market cap
that's a lot of cash but it's a drop in the ocean. the Gross World Product according the CIA factbook in 2014 was $107tn
to put that in perspective, that means crypto's total cap is less than half a percent of the global economy was 3 years ago but it has quintupled over the last few months. I remember the euphoria at passing the $100bn mark in the summer, only for it to rapidly double. Let's say by the end of 2018 it's reached over a trillion and then some. That gives bitcoin a price of about $40,000 (if shares stays the same) + if that funding continues to reach into ICO's Tokens and the rest of the crypto landscape, people will start spending it. Interesting. I think that by 2020 we could be easily up to the $5tn mark.
That could give bitcoin an astronomical price, exorbitant fees and a necessary block size upgrade or 2.. and about 17 forks. My guess is that bitcoin's share of the total market could easily drop to 25% of the total as coins spread out, especially if forks take a chunk out of bitcoin's ribs like BitcoinCash has done. that means we could be looking at $100k bitcoin. A few more bitcoindiamonds will no doubt emerge but also a few more bitcoinggolds. already more plump than most of the other 1,000 coins. There are also some monster companies emerging from the blockchain. We're witnessing the next generation of Internet Behemoths being born. Wouldn't you like to have invested in PAYPAL> AMAZON<GOOGLE<EBAY ? all at the same time in 1990's. It would be fair to say now that you'd have been a right clever dick. and a rich one.
Where will STEEMIT be ?
I wouldn't be surprised to see millions of active users by 2020. Steemit is the biggest thing since facebook. It may not be punching that hard yet but it will. Early adopters of steemit will have a social currency which makes them look like the ultimate technocrat. Also your knowledge of Blockchain could in theory set you apart in a big way. you did well, pat yourself on the back .HODL and be thankful ! long live the BCR (BlockChain Revolution) .. planned or unplanned, it's the killer app the internet has been waiting for !