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I just watched James Jani‘s documentary about Cryptocurrencies

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In the documentary there is also a section about Bitcoin. I‘m certain that 99% of the crypto space are scams and ponzis but his narrative actually has me questioning the state of Bitcoin.

When you read the whitepaper of Bitcoin it is clear that it was designed as an alternative to the financial system that brought us the 2008/2009 financial crisis. I hold Bitcoin because I hope it appreciates in value and I firmly believe a lot of people hold it for the same reason. But exactly this motivation basically defeats the purpose Bitcoin was trying to create.

Bitcoin has become an investment asset that is also held and traded by investment firms and rich people who are also interested in making profits supposedly turning Bitcoin into a „decentralized ponzi“.

I would like to hear you guy‘s thoughts on this narrative and the development from the original inception of Bitcoin as an alternative currency.

submitted by /u/Alarming_Associate47
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