I think bitcoin being a widely used medium of exchange is a dream, just as the idea that bitcoin would replace banks was a dream that I heard repeatedly when I first got into bitcoin.
Login to reply
Replies (2)
My point is that bitcoiners might be living in a dream. They certainly believed & definitely hoped to see the banks be replaced by bitcoin & it's my suspicion that bitcoin will not be the widely used MoE that some think it will. It already failed that in El Salvador. There are stories/narratives that bitcoiners hold on to such as "gradually, then suddenly" and "we are so early" to encourage holders to keep their convictions but after seven years I am beginning to question the validity of it all because without further adoption it dies. I will add that I hope I my concerns are unwarrented on this which is why I asked Jeff for his thoughts.
" The world where everyone is saved by Bitcoin and no one suffers the consequences of the century of central banking can’t exist."
This is a perfect example of what I mean. This story has been told over & over for years, you are just repeating it without truly questioning whether it is even feasible. It's a dream that the hodler convinces himself but it cannot happen without adoption.