1 sat \ 3 replies \ @BlokchainB 3 May 2023 \ on: BTC to 100K bitcoin
My opinion:
People are getting sick and tired of the fiat system and how it enslaves all of us but if Bitcoin is going to mean anything people who produce goods and services will have to demand it.
People have to want Bitcoin for food water clothes entertainment.
As of today you have to do all kinds of funky stuff to spend Bitcoin in the real economy. Send it to companies like bit refill or the bitcoin company, to get gift cards that are denominated in usd to buy your goods and services. Most vendors will not do business in BTC because it’s not useful to them now. Couldn’t be an oversight in 20 years sure but as of today it’s not useful so they don’t want it .
Sure it’s fun to zap people on nostr and to pay people sats for articles that they write (I have tipped Darth many of times on his substack) but on mass no one wants bitcoin for things that actually matter in the world like food water and energy.
Even if you wanted to start your citadel today 99% chance the contractor you hire to drill your water well will want usd. The power company that extends power to you will want usd. The internet service provider you NEED to even send bitcoin wants usd.
Price matters if you think it doesn’t you are fooling yourself.
Good reflection. Bitcoin needs massive adoption to be able to displace FIAT money from the financial system. Daily trading use of BTC is a direct path to reaching that goal. It is important to closely observe the case of El Salvador, where they are pioneers in large-scale adoption.
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Exactly I respect Darth’s passion but we just aren’t there yet where we can drop USD all together.
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I am a defender of freedom of expression and I believe that the diversity of points of view enriches democracy (and more so at a time when all kinds of dictatorships want to flourish). And I also want to say that all the Bitcoin maximalists have my admiration and respect.
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