21 sats \ 0 replies \ @mallardshead 8 Aug 2023 \ on: Will BTC have failed if it's not a widely accepted medium of exchange by 2033? bitcoin
No, because it's a store of value on a long, difficult, and organic path to medium of exchange. Many projects think they can leapfrog these steps. I posit that bitcoin will have failed if on the other side of monetization, the censorship resistance, bearer assurances, and permissionless property rights have been stripped. That's what I'm here for. Ask yourself: if today bitcoin had monetized, and the confidence curve (volatility) was flat, and the bitcoin commodity money itself moved more or less with global GDP, and appreciated on average 3% a year, and the quote price was around $30k, what would you be doing? What's the purpose of bitcoin beyond its first principles on the other side of monetization? There isn't one without the first principles, we might as well have a global CBDC; we will have created frankly, something worse than fiat, and must start over. At least that's how I see it, and another reason I'm critical of crypto, as it's a subject to ponder what lay beyond speculation.