This is a theoretical article proposing what could happen as a result of the cooperation/investment entity, “Grayscale”, buying up a sizable portion of its total current (and still accumulating) market cap.
Theory 1(most probable): “Grayscale” will continue to accumulate bitcoin at a unprecedented rate, until they have total control of the market and there fore final say in the over all price of bitcoin. Ultimately the top exchanges (namely Coinbase, and apparently for some reason Binance) will need to start procuring their bitcoins at whatever price Greyscale DECIDES to sell them at. Which, as a result, could be detrimental to the network. Although it as technologically, would still be decentralized, financially speaking it would very much be a centralized network at that point.
And if you readers will recall, crypto enthusiasts, generally speaking, are NOT fans of centralization.
I ultimately predict that “Grayscale” aka Winklevoss Inheritance Trust, will push the limits of what the consumer will be willing to pay for capital before the consumer decides to say “fuck that shit” and take their capital to a different chain.
Theory 2(less likely): “Grayscale” will work with developers at the top exchanges, (namely Coinbase, and apparently for some reason Binance) as well as the top developers across not just bitcoin, but the top 100 blockchain entities to improve over all capacity of P2P networks and bring us into a new era of recognized personal finance 100% controlled by/for the users.
WHY DO I THINK THE LATTER WILL FALLOW THE FORMER?
Well, that’s pretty simple, as already stated I clearly don’t believe the Winklevoss’s have much vision other than gaining some quick domineering bux, I think they lost on Facebook, saw bitcoin, and saw a opportunity to not end up completely fucked for their own stake at a “personal fortune” in it, and decided to be some of the most successful early adopters there were. Doing so, mainly, by going against the grain of what bitcoin goes against. Pushing for regulation, charging outrages fees or purchasing, withdrawals, and account management fees. They‘re basically, already are the pinochle of everything bitcoin hates and is working against.
so why even have theory 2?... I dunno, call me a optimist, that being said, I’m PERSONALLY thinking about increasing my hodlings of Monero because of the situation, at least that’s one thing I will always love about crypto too, we will always have a option on how and what we use our capital for!
Thoughts? Comment them! Like? Fallow! Tip? Cool, thank you! Love? - 🦛
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