RE: STEEM And The Internet Of Money: Why EVERYONE Will End Up With More Money Than They Can Spend
Power over what? The blockchain which is the Internet? How can they do that?
That is the point. If they want to buy up bitcoin and try to control that, they can...perhaps. But how are they going to buy up every currency created? When a teenager can log on, download the open source code, and create a new currency in an afternoon, the expansion is too great for even the money to catch up.
As I wrote the other day, I dont care how much money Wall Street pumps into cryptocurrencies, there is no bubble...and there will never be a bubble. If they run the marketcap up to $6T next year, that is a 6 fold increase. Blockchain is going to have a 1,000 fold increase in 2018....Wall Street is still lagging way behind.
Add in DAOs and you find that there is no power to broker...the software has it.
I was thinking about just buying up a large chunk of currencies. For example getting lots of steem means you can get even more steem. Sometimes it feels like today the rich just keep getting richer and expanding into crypto only makes sense. Still you made some very good points and have given me more food for thought.