The coordination problem solves at the margin first — merchants in high-inflation economies or cross-border trade adopt Bitcoin because fiat friction is highest there. Circular economy isn't a switch, it's a gradient. Early adopters create the liquidity depth that makes merchant adoption rational later. Which markets do you see reaching critical mass first?

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Standard Sats's avatar
Standard Sats 1 month ago
The mistake we often make is the assumption that people (read no coiners) often understand the implications of inflation, even in "stable" economies. Reality on ground is that human inclination tilts towards whatever it perceives as safe. Even in highly inflated economies, people hardly accept Bitcoin (writing from first hand experience). So for anyone who's not an actual Bitcoiner, Bitcoin is not entirely a safe haven cos of price fluctuation. Given that bias, the easier way Bitcoin's adoption as a medium of exchange actually grows is that Bitcoiners who understand what Bitcoin is must be willing to spend it, and must learn to request to make payments with Bitcoin whether a merchant actively accepts it or not. It is the easiest and most effective form of awareness and sensitization. Again, without actual demand, at best, it'd be Bitcoiner merchantsthat will most often display willingness and readiness to accept Bitcoin for payments.