Nature;
The first and more at this profound instincts of a mother is to protect her child… like a mother, the first instinct of a network that has grown large/ popular and powerful over time is to protect its core.
What is the core of cryptocurrency? $BTC .. right… so if you have read my previous post, I mentioned that bitcoin went from $0.0009 to $30 from the period of 2010-2011. Just about the time that Bittalk was founded. Doing almost 100,000x in just ONE year. Taking into account that I didn’t mention anything about how a $0 asset went from $0 to $0.0009 in the first place, and seeing that back then it was not publicised, or advertised or propagated on twitter or fb or instagram… it didn’t have any group of 100-200 k plus supporting it, it didn’t have anything other than a first tweet in 2009 (included in the images below)…so let’s see the logic; 21 million supply at the time of inception (TOTAL)… how much would be needed to be purchased for bitcoin to reach $30 per coin? In JUST ONE year…..with NO inflationary mechanism in place yet, with NO substantial backing other than a few individuals…. I didn’t do the math for you (you can do it yourself) but I’m sure you can see the logic..How popular does a coin that doesn’t have any inflationary mechanism, that isn’t a government backed asset, who I heard, multiple sources indicate that in2010 one could mine 100 to 250 BTC per day for most of 2010, and literally NOT a lot of people around the world even knew about… get to $30 per coin? I mean FB is a platform that provides a service and people, naturally , flocked to it… but bitcoin, a concept that is based on the principle of giving away your hard earned cash for digital void got popular more than Coca Cola in just one year? Really….
