Can you envision a day when Coinbase or Kraken says "Sorry, max purchased allowed 1 bitcoin"
0 sats \ 3 comments \ @uco 21 Jun 2022 bitcoin
After listening to Preston Pysh and Peter McCormack's latest podcast (link below), Preston believes we are headed straight for Weimar hyperinflation. He predicts that when bond holders flee to safety they will en masse start buying bitcoin.
Just curious if anyone can see a scenario playing out where big exchanges (Coinbase, Kraken, Binance, etc) limit the quantity of bitcoin that can be purchased per day or even per account.
The exchanges may limit out of necessity due to lack of coins or by way of edict from regulators.
"It's not fair for someone to own more than 1 bitcoin. It doesn't leave enough for the rest of the population". future quote from CNN
YouTube Link to Peter and Preston: https://youtu.be/5Q4-E5K7tW0
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11 sats \ 0 replies \ @BandwithAbuser 21 Jun 2022 freebie
That is not what will happen. Exchanges will face a liquidity crisis and the price will squeeze up. Instead of denominating in whole Bitcoins, exchanges will denominate in Sats by default and the issue of liquidity will be resolved.
We are closer to that point than people might think. When volatile moves happen, you always see exchanges run into different issues like withdrawing. I don't think this is out of malice, I think this is because there is literally no liquidity left and they have to wait for their market makers to get more liquidity.
Even if everyone could only own one Bitcoin, there still isn't enough for "the rest of the population" to own 1 Bitcoin, whoever said that on CNN is a fudtard.
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5 sats \ 0 replies \ @zuspotirko 21 Jun 2022
Maybe one day - but not in the near future
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0 sats \ 0 replies \ @nout 22 Jun 2022
Btw, the podcast with Preston and Peter was amazing. I really recommend watching the video.
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