London School Of Economics: Bitcoin HODLers Will Rival “Kings And Emperors”
Ten years ago, I heard of an article discussing bio-hacks and how a wealthy but young investor checked his own blood and minerals on a weekly basis in order to slow down cellular senescence, aka the natural deterioriation of the body. I cannot for the life of me remember the guy’s name, but I do remember the article, and I’m not the only one.
By 2021, bio-hacking has become the science of upgrading your own body to improve it. Neuralink, another one of Elon Musk’s companies is investigating it in more detail but small bio-hacks that you can implant in your finger or other detachable body parts already exists. The age of superhumans is upon us.
Kings and Emperors
In that age, if the London School of Economics is to be believed, it is possible that large Bitcoin HODLers (whales or people holding 1,000-5,000 of Bitcoin and humpbacks, aka whales that hold over 5,000 Bitcoin) will be able to rule others as their investments will make them immensely rich.
At least that is the argument of one of their leading economics professors, who theoretically discussed the question: What happens if bitcoin succeeds?
Professor Jon Danielsson, the Director of the ESRC funded Systemic Risk Centre (what’s in a name) argues that he doesn’t believe that crypto will succeed as governments won’t allow it to ever replace fiat money (for fear of them losing their monopolies over money printing), but is willing to theorize as to what would happen if Bitcoin comes out the winner of the digital money race.
The man studies systemic risk, artificial intelligence, cryptocurrencies and models of extreme market movements
He states that if Bitcoin were to succeed, then:
The current owners of bitcoin will become the wealthiest people in the world, rivalling the kings and emperors that ruled over empires in centuries past. They literally will own all the money. They can buy anything they want. There aren’t that many of them.
Compared to the multitudes that own assets today via all the pension funds and mutual funds and the rest, it is a tiny group of people.
In essence, it will be break or bust. Either Bitcoin succeeds, and this is the end result, or either Bitcoin fails and, as Shark Tank’s Kevin O’Leary once stated in a discussion with Anthony Pompliano on CNBC:
Grown men will be crying in the street.
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