As my topic implies, I just don't see how the big exchanges won't eventually become exactly the same as of the today's banks.
They are, as I write, hoarding huge amounts of cryptos (i guess?)
In the future, the early adopters will probably have sold most of their coins, as of realizing their profit into something with real, or sentimental, value (house/yacht/clothes/businesses/love aka oxytocin) and those coins will eventually come in the hands of one of the exchanges. If bitcoin keeps gaining mainstream momentum and the price, in a few years, stabilizes. The "smart" exchanges will by then have crazy amounts of coins to the extent that they have the power equal to Satoshi's (or ppl behind the pseudonym) power of today. I feel my point is slipping out of my hands by now. Is really, "bitcoins can't be printed as fiats can", a good argument at all? I'm sure the ones with power will help each other to over come that argument.
Anywaaaayyyzzzzzzzzzz, I honestly don't understand cryptos as of yet, so please tell me if I'm addressing ALL of these questions from sideways. Should the exchanges be seen as some kind of necessary evil to help bringing cryptos to the public? Are they evil by definition? Will they evolve to something good for everyone? Not a threat as long as you use an exchange that you trust? And what happens when that exchange gets too much trust? How will the richest ppl store their bitcoins in the future? Having a wallet, online or offline, makes you a target, right? And then you'll need to protect yourself against people, and then the people become an enemy to you? I mean, the average Joe, is getting poorer n poorer by each day, especially in America. Dollar hyperinflation as of tomorrow? How long can America protect the petrodollar? Are they/you already looking into the option of synchronizing their currency to China's? The last questions are just idiotic I know. We'll never have the answer till it's too late.
In what way could this saga take humanity to a better future? Currencies are futile against physical power. Do bitcoiners plan on buying their own army to stand up for themsel'ves, is this the medium for the first true democracy? You don't have it in america, that's a fact. We don't have it in Sweden, that's for sure. I doubt Germany got it. Canada? France? Do we even want it? Is freedome overrated? Shouldn't safety be the main drive as of today?
Could it be, that all this fuzz about crypto currencies, just is another way for the true powers to distract really smart and productive people from the issues that really matter. And I swear to God (religion is for ancients and illiterates), 99 % of the people ever putting their digital hands on cryptos, do so for their personal ( = nobody elses) gain, working together is just a mean to reach your own goals. We're all just selfish bastards in the end, aren't we?
I don't have a clue so plx halp n00b! And please forgive me for getting so much ot. J
Please excuse my english, I'm a swedish biologist xxD WE R ALL JUST ANIMALS! Ripple anyone?
/Daniel