Like it or not, every cyprus-like event extents the longevity of the system exponentially. It reduces the deteriorating effects of compounding interest to the point of negligibility.
This is why Bitcoin will never replace the status quo and there is nothing you can do about it.
It likely never will but it doesn't need to replace the status quo either. It needs to retain value and nothing on the horizon is showing a change in that for now.This is why Bitcoin will never replace the status quo and there is nothing you can do about it.
Most of this value retaining properties come from the false promise of being able to replace the system with itself. This is why ultimately when it comes down to it it's a scam, not because of it's ponzi like properties but because of the deception encoded into the genesis block. Yes I am attacking the golden goose.
What is "the deception encoded into the genesis block" ?
Something about Greece and bank bailouts. In a sense Satoshi promised to solve the problems associated with that, he does not.
