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0 sats \ 0 replies \ @spiderman 12h \ on: Bitcoin is complex; people are busy mostly_harmless
I have been giving some thoughts into this, and agree with much of what you say. But I do not see this as a cause of disappointment, I see this as an opportunity.
I was watching a video from some Bitcoin traveller (plenty of them) to some island in Philippines which is/was apparently some kind of Bitcointopia. He approached some seller on a beach hoping to pay with Bitcoin. I forgot the details, but the conversation goes like this
Seller: Sorry sir, we don't take Bitcoin anymore. You have pesos? Traveller: But you took it last year, right? Seller: No sir. Not anymore Traveller (trying to push a bit): But why? Seller (obviously disinterested in the conversation, trying to go on with his day): I forgot the password
Who cares if the lame excuse is true or not, but the point is, it was a year when Bitcoin had a massive bullrun, even in USD. And if the seller did hold on to his coins from last year, he would be a happy man. And not to say the peso is one of the trashiest currencies in APAC.
Looking at these examples, I just conclude that
Some people deserve to be poor.
I know the Bitcoin story has a grass-root, rebellious ethos to it, which I much appreciate. But remember, most of those folks? They will adopt Bitcoin when forced by reality, when they see hyperinflation eating away their savings, or when capital control rules freeze their bank accounts as is happening in Thailand and Vietnam. Your next door pizza seller? He will adopt bitcoin when he has to sell a large pizza (with drinks and wings) for 500 sats in total, because he is having a bank run and even his employees don't want to be paid in the local currency.
Bitcoin is following Gresham's law now, but later it will follow Thier's law. But now is my opportunity to grab more.
Half the people in the street will rant against inequality, vote for populist giveaways, and yet they will trust JP Morgan when they say Bitcoin is a scam. But they will also not adopt Bitcoin before JP Morgan does.
If you are looking for hopeful signs of adoption, forget about small time sellers adopting it for selling coffee or pizza. Look at the big boys. Are there major players selling
  • Electricity
  • Houses
  • Weapons
for Bitcoin? Yes, that is where shift happens that will cascade down to lower level. And a lot of encouraging signs there.
It is Darwinism. I don't evangelise Bitcoin. I stack, I spend a bit of it and I carry on. So far it served me extremely well.
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