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RE: Death of BTC: Bitcoin Core Plans A Block Size Reduction from 1MB to 300KB
Well...
both yes and no.
Bitcoin has a use case that is extremely important in the future.
It is going to be the GOLD standard.
Its going to be used to settle national debts.
Yes, it does look like some globalists (or other nefarious, in the shadows, players) have got their hooks into the bitcoin devs.
But, this is a dual edged sword, it indeed will kill bitcoin as the coin people use, but it will also almost guarantee that the big people use it. And when the big people use it, then its value goes super-high as well as it becoming more stable... agreed upon.
And thus, all the other coins have a good reference point, plus something that seems to have a backing.
The BTC Gold standard acts as a central point of failure for the entire cryptosphere. BTC has nothing to do with something like STEEM. Yet STEEM, MaidSafe, SONM, Substratum etc. Yet prices are heavily affected by BTC. As long as there are currencies with intrinsic value like STEEM we don't need a single central gold standard. It wouldn't make sense for all stocks to follow FAANG stocks. In the same way it doesn't make sense for all sorts of crypto projects to follow BTC.
Logically you are correct, however,
markets tend to be weird in this way.
Like price barriers at $100 increments... they don't make any sense, but they are definitely there.
Further, humans really like to have a... something to base things off of.
The US$ is good for human psyches. It allows us to price things.
Although the actual prices on things has no bearing to their costs.