We’re blindly trusting this person not to do anything with their fortune!
Exchanges have never done anything shady and (for a second time) we’re trusting them even though they’re all established in countries with as little regulations as possible.
If something that can fluctuate by 50% of its value is more stable than your local currency you’re not investing in it, you’re buying USD, or in the case where you have access to Bitcoin you’re buying stable coins.
What the network effect means is that the only reason it keeps its value is that more people buy it at a price where people who were there earlier are making profit. If there’s no new buyers then it’s worthless. See the pyramid drawing itself now?
So the technology is bad enough that it requires a separate tech to work properly? Going back to your people in poor countries, how do you expect them to deal with the transaction cost to move their funds in and out of the L2 when required if they can only afford to buy a couple of dollars worth at a time?
It just shows how much early adopters could pocket and how unfair it is if it was to become the default currency, even more unfair than regular cash.
See #5 and let’s add that the reason fees are lower and transaction speeds faster is only because demand is low at the moment, Bitcoin’s network hasn’t changed. Still, when transactions were taking an hour or more to go through, how would you have dealt with paying for something if you had realized you didn’t have enough funds on the LN and you needed to transfer from your regular wallet? Or very simply, if you’re paying for something and the person at the receiving end is a true maximalists that sees how flawed the LN is, do you pay them hours ahead for something they’re selling you? That’s what I call a trustless transaction!
Oh so as pointed out in OP’s meme it’s not ok for traditional rich to be rich because they jumped on opportunities, but it’s ok for the Bitcoin rich to be rich because they jumped on an opportunity, got it 👍