Most of the problems of Bitcoin are solved by centralization. Reversibility, transaction speed, increasing and decreasing the supply. The problem is that centralization creates an investment contract. We already have a medium for exchanging those. It's called the stock market. Bitcoin operates out of the control of any government or regulation. Thus, the decentralization imposes limitations on its design.

XRP tried to make a centralized cryptocurrency that solved those problems and now the SEC is basically telling them they have to give all the money back because it's an investment contract.

> and like any emerging tech

The problem that everyone else sees is that Bitcoin has been "emerging tech" with all its rough edges for so many years.

Is that wrong? What other new asset class was developed this rapidly?

Think about what other technology is 12 years old you’d call “nascent” - 12 years is an eternity in tech. The iPhone is 12 years old and bears only a passing semblance to what was launched. Bitcoin is practically identical.

The first ETF launched in 1993, and 12 years later they had 400 billion in net asset value - 533 adjusted for inflation. Your argument that the growth is unprecedented is specious.

> Think about what other technology is 12 years old you’d call “nascent”

Cars, Steam engines, Airplanes, Trains, the Internet, Radio, Phones, Mobile phones, Smart phones, Cinema, TV's, basically anything that is actually new technology?

I actually can't think of any new technology that reached maturity within 12 years of it's original prototype.

> The first ETF launched in 1993,

ETF's are a contract, they're not technology. By the way, BTC currently has 450 billion in net asset value, so...

As I type this, bitcoin's market cap is a little over $554 billion.

What technology do you use from 2008 that hasn't changed at all since then, and is also considered nascent?

I don't know but Bitcoin is definitely not it, it's seen multiple large improvements over the years.

Oh cool! Does it exceed 7tx/sec now? That's great news.

Yeah, but I believe it's the economic side which is moving slowly, not the technological side. People have been working on improved technologies for cryptocurrencies for a while now but the problem is that none of them have gained the same trust as Bitcoin.

I suspect ETF cash inflows far, far outpace crypto cash inflows.

I suspect you could take a lot less cash out of crypto without collapsing the market.

lol that’s very much backwards, by crypto advocates own admission there’s zero liquidity in the space.