The 1% Has Started to Embrace Bitcoin – Why It Matters

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Top Tier Gear USA

bitcoin-feds

Other than widespread fascination over its meteoric price rise, much of the discussion around Bitcoin in 2017 has revolved around questions over the future direction of the protocol, most specifically the highly charged scaling debate and the implementation of SegWit. With the forthcoming fight over the 2x part of SegWit2x, the blocksize issue remains unsettled and the community will stay firmly focused on this over the coming months, as it should.

While I have my own opinions on the subject (I’m against forcing a blocksize increase just because some companies agreed to it), I don’t spend enough time on Bitcoin to consider myself any sort of authority on the matter. Therefore, I pretty much keep my mouth shut and let people who spend all their time on the topic have at it. Nevertheless, when I feel I have something to add to the Bitcoin conversation I certainly don’t shy away, which is what inspired today’s post.

A headline that caught my attention yesterday was the following published by CNBCReal Estate Project in Dubai to be the ‘First Major Development Where You Can Purchase in Bitcoin.’ Upon reading the article, it appears the move is in large part a marketing gimmick (a smart one), but I don’t think it’s just that. I believe those involved in the development genuinely find Bitcoin interesting and want to support it, which is consistent with a significant conclusion I’ve arrived at based on many other data points.

2017 has been the year when an increasing portion of the 1% finally started to embrace Bitcoin. Not a huge percentage by any means, but certainly enough to affect the price. We can call them the early(ish) adopters of this wealthy class. Specifically, this real estate project highlights the fact that adoption of Bitcoin amongst people with significant financial resources is happening faster than many realize. Why does this matter?

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Contributed by Michael Krieger of A Lightning War for Liberty.

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  • The 1% are getting desperate and stupid at the same time?

  • Roy Hobs

    Michael Krieger = Coward
    The 1% have names Michael Krieger. Why can’t you name some?
    Not until we bring back into public discourse the “Jewish Question,” as in the days of Henry Ford and Charles Lindbergh, we will forever remain their slaves.
    Grow a pair Krieger!

  • Roy Hobs

    We are fighting for our lives here. Time to stop bullshitting around with words like “Bankers”; “Globalists”; “Illuminati” etc., etc. These monsters have names. The Jew is at the top of the power control structure. Yes…….sure……..they have their Shabos Goy. Take down the top and the rest will crumble.

  • Currency Dictatorship is Currency Dictatorship doesn’t matter in which form it comes.
    “Started to Embrace” = they own 51% of bitcoin and “fully adopted” = they own 80% of it.

  • It’s all a ponzi scheme, the 1% will still have it all and you will have scraps.