Bitcoin (and cryptos) highs & lows

I am a pragmatic observer.

I?have understanding. I have beliefs. I have preferences.

I am not a fan of cryptocurrencies (read Bitcoin(s), Ethereum, ... public blockchain tokens in general...) for many clear and intelligible reasons that people may or may not agree with. But I can debate and argue at length about it.

To clarify this statement, I am not a fan of ... the business case of those.

The Technology underneath has interest.

I would even nuance that statement, where it is possible?that Bitcoin?business case has been devoid of its original purpose by greedy people.

Again, Humanity comes with envy, greediness. Else what's the point of making a commandment against it.

My point?about Bitcoin?use case is that it has been "hacked", "hijacked" by some to make profit... and profit is always at someone else's expense. Literally, the dictionary defines a profit being a benefit, which is "an advantage gained from something".

Without going as far as comparing Bitcoin to a Ponzi scheme, it is clearly now a system that takes value/money from one pocket to another. It may not have been intended this way originally.

In other words, profit and gains made by Alice selling her BTC to Bob 17% higher than her purchase price is literally taking +17% from Bob's pocket.

That in turn sells it to Charlie for +15% more.

Don't get me wrong here, it is not new, I could state several very well known systems that perform exactly like this, but it is not the purpose of this post.

Just like permanent growth is neither sustainable nor even possible (for a pragmatic mind at least), this little "scheme/game" can't work on forever.

I looked this morning at the price of BTC... $38k... while it was almost $68k Nov 8th 2021... Minus $30k in a matter of not even a quarter.

Usually when it surges upward, articles are popping here, and there to promote the "scheme/game"... It is way more silent these days...

$38k this morning which is IMO still incredibly high for something that represents... NOTHING... (this one's for you Mr Seinfeld! :) still love your show and bids )... but hope in their owner's eyes, and greed and easy money in the eyes of the rest of its users.

So let's take what's best in it, i.e. the technology underneath, and make it something solid and meaningful for all. Not yet another big "trick" to take from numerous to give to a few 'string-pullers'.