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91 sats \ 6 replies \ @SimpleStacker 4 Feb \ parent \ on: Hoarding Bitcoin is a Failing Strategy (WSJ, Vicky Huang) econ
people don't see their need of it yet

Two things I fear:

  1. Once the collapse has happened and the need is there, people will criticize Bitcoin as useless for not having prevented the collapse.
  2. Once the collapse has happened and the need is there, regular people will not be able to obtain bitcoin at an affordable price, and thus criticize bitcoin again as being useless.
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92 sats \ 2 replies \ @kepford 4 Feb

I'm it rooting for this of course. Just my opinion based on what I observe.

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87 sats \ 0 replies \ @SimpleStacker 4 Feb

I don't think I'd root for that just because it sounds like a really dark scenario.

I hope people see the light and get on board with bitcoin, but that also seems very unlikely and/or far out.

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25 sats \ 0 replies \ @kepford 4 Feb

I'm NOT rooting for this....

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25 sats \ 0 replies \ @OriginalSize 4 Feb

The specific price doesn't matter. What matters is that it remains uncensorable and limited to 21M. People will increasingly prefer being paid in a currency that can't be debased or confiscated with an API call.

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5 sats \ 0 replies \ @SatAttack 4 Feb

to your 1. Just as over and over the proof of the people in this space who don't get wrecked like in events such as Mt. Gox and SBF are the bitcoiners who self custody, and that's it. An IRL collapse would be similar and hopefully that would be attractive to no coiners at that time.

to your 2. If economic collapse to the scale of which you're talking about surely bitcoin's fiat price has taken a hit too. Perhaps it will be good buying times for all.

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5 sats \ 0 replies \ @grayruby 4 Feb

Fair concerns.

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