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10 sats \ 2 replies \ @039e7a238d 22 Nov \ on: Will bitcoiners be the hated class of the future? bitcoin
Not likely.
ATM bitcoin's market cap is 2T. Even 100x from here won't bring it to the levels of the stock market.
There's been very little (or at least manageable) hate towards the stock owning class in the past.
Just imagine stock market doubles. The wealth effect is much much greater in absolute terms. Still past doublings have not caused hate towards the stock owners.
this is true , i've never seen a stock hater, but that's probably because stocks cover all sorts of companies and most people in the US at least have exposure via a 401k
bitcoin is just the one thing and tends to illicit very negative reactions, like Buffet calling it rat poison etc
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Sure. Still the relative effect will not be even as large as pumps in the stock market in the past - even in case of 100x . 100x is going to take some time and people will adapt. Most people (in developed world) will own bitcoin at that stage.
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