I am no professional crypto pumper, and full disclosure I have a SMALL amount invested in cryptocurrencies.
That said:
- Bitcoin seems to be replacing Gold, as the currency to replace Central Bank currencies (USDollar, Euro, Yuan).
- There is a LOT of "hopium" out there, not too far different from GME and AMC message boards.
- What do billionaires know that the rest of us don't? They didn't all get into Bitcoin at the same time. Case in point, George Soros only recently got in. Maybe, like they internet, these forward-thinking NEW MONEY billionaires see this is a trend that is here to stay, and not a well-coordinated pump and dump scheme. I do say, your repeated "What do they know that we don't?" seems overly conspiracy theory.
- Meme coins, such as Dogecoin, Shiba Inu, and others, are complete garbage with Zero intrinsic value. These meme coins imo do live up to your ponzi scheme theory.
- There is a huge difference between the utility of Ethereum and Shiba Inu.
- a hard cap of Bitcoin is actually a GOOD thing. I'm leery of unlimited inflationary coins, like Ethereum has potential to be. A hard cap of 21m BTC is kind of the definition of inflation hedge. No matter how much currency the Federal Reserve or European Central Bank prints, there will only be so much "real money" in the world - gold is king in the physical world, but in our digital age, Bitcoin is the digital version of gold.
- security maturity, such as recovery of lost wallets and policing scam artists, remains a huge problem.
- Many of your points are really misinformed. The "51% attack" problem is logistically impossible, with how global bitcoin mining and processing has become. Bitcoin mining will run until 2150, so you don't have to worry about what will happen when mining runs out. "Bitcoin is Blockchain and vice versa" is straight up not true.
- There is a real risk of Bitcoin, and all digital currencies, going straight to Zero if there is a global power disruption.
- "There are now use cases in just about every industry sector" - this is not Mostly GOOD, this is Overwhelmingly GOOD.
I've tried to capture both pros and cons of the crypto revolution now taking place. But the arguments you make, actually support Bitcoin adoption because anyone who does 2 days worth of research can easily conclude you don't know what you are talking about.
