But bitcoin also serves to mask the symptoms of the infinite printing of fiat currency and it is meant to forestall the impeding implosion of the US dollar... as more and more suckers become digital millionaires or even cryptobillionaries via the rise of bitcoin and other alt coins, like all pyramid schemes it encourages the latecomers, the average everyday joe six packs to forego spending their dollars and "invest" them into bitcoin, having the net effect in society of discouraging real consumption and encouraging holding phantom wealth that will disappear once the elites have converted all their dollars into other real assets like gold, silver, land, buying up other real commodities and real assets while the average joe is "HOLDDING" a bunch of worthless digital coins that can be bubble popped at moment’s notice by something as simple as NSA releasing a long held zero-day or secret vulnerability in the blockchain security cipher...
Gold was created in the belly of a dying star during its supernova.... we cannot create gold. (we can in very tiny amounts using particle accelerators but that’s like saying sending trash into space is a way to solve the landfill problem here on earth) however those that say bitcoin is capped at 21 million total bitcoins and thus this is what defines its "value" do not realize that bitcoin has NO intrinsic value whatsoever as a digital distributed bookkeeping entry and that in fact right now its speculative value is only propped up by the "social networking effect" and in reality there is no limit to the infinite number of other alt coins that can be created based on the same underlining blockchain protocol....
Bitcoin is just the newest kid on the block and I believe its purpose is to be a absorber of excess USD and to create a culture of "investing" into this intrinsically worthless scheme in order to mask the USD QE infinity problem of hyperinflation and to suck up the excess dollars whereby creating the sort of lock-in effect of artificially encouraging the common everyday sheeple to voluntarily and unwittingly forego purchasing/consumption of real goods/products and thus hiding the peak oil / supply chain problems by via global "demand destruction" as the bitcoin ponzi grows ever more exponentially larger...
