The Wall Street Whales Won't Buy Up All The Crypto
One concern could be the mega-whales of the world, Wall Street, could use all their fiat to buy up crypto and create the same system as we presently have.
I do not think this will happen. It could with Bitcoin since that is a fixed amount. The difference is cryptocurrency has technology. Through the forking process, we can avert a major takeover of a blockchain like Steem.
The future, I believe, will not be a fiat-to-crypto conversion but, rather, crypto-to-crypto.
Please leave your comments and suggestions down below.
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They might go in a little but for sure they wont go all in. To few accounts still hold the majority of Bitcoin which would scare any major large investor.
Not just buy up. There is also the possibility of making new derivatives to create even more manipulated market.
A little bit more accurately:
Wall Street can't buy all the crypto.
You can always make a new coin that isn't controlled by "them".
In the event that all the top market cap coins did start getting heavily bought out we could be almost certain that the new projects that emerged from that attack would be ones that attempt to prevent that exact scenario from happening.
Crypto and open source tech can adapt much faster than Wall Street can.
As a follower of crypto for past two years I fell all coins once created usually have whales due to human greed. When btc was hitting a certain amount people fork their own crypto in the hopes to grow their own wealth. Too many cryptos with too many forks is leading to a saturation of demand. It won't matter if there are whales is the coin is worth nothing....
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