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Re:MasterCard to open up network to cryptocurrencies by scotty79 on Thursday February 11, 2021 @05:05PM (#26108013)
Compare this to wealth of Elon Musk. This month he's the richest person on planet, two months ago he wasn't even in top 10 (I think). Did anything changed for him? No. Can he not be the richest man on the planet in two months? Sure. Will it change anything for him? Still no.

I pretty much think about people who got into bitcoin early and they have more than 1000% gain and just hodl because they don't have much use for that kind of money.

Their daily purchases would be minuscule percentage of their bitcoin wealth.

Re:MasterCard to open up network to cryptocurrencies by PragmaticPulp on Thursday February 11, 2021 @07:18PM (#26109375)
The future would be very weird if the singular determinant of a person's success in life is how early they invested in Bitcoin.

Which is one of many reasons why we're not going to have a mass switchover to Bitcoin. It wouldn't actually benefit the average person, but it would make early adopters ridiculously wealthy for having clicked the right buy button at the right time and not lost their private key along the way.

In reality, once Bitcoin becomes a mechanism for the early adopters to wield wealth over the later adopters, everyone who didn't get rich early on will switch to playing a different game. No reason to go all-in on Bitcoin if the system is stacked in so far in favor of early adopters that you'll never be one of the wealthy ones.

Re:MasterCard to open up network to cryptocurrencies by spats1990 on Thursday February 11, 2021 @11:24PM (#26110722)
>In reality, once Bitcoin becomes a mechanism for the early adopters to wield wealth over the later adopters, everyone who didn't get rich early on will switch to playing a different game. No reason to go all-in on Bitcoin if the system is stacked in so far in favor of early adopters that you'll never be one of the wealthy ones.

Where I live, this is how some people my age are starting to feel about real estate. Maybe that's why cryptos are so popular, for better or worse, among younger people.