117 sats \ 0 replies \ @davidw 1 Aug 2022 \ on: What do people think is the biggest barrier to bitcoins adoption? bitcoin
Time.
It could take 20 or 30 years for the true bitcoinised world we all envisage to take shape. It’s taken 13 years to get from 0 to ~1% and I still envisage it’ll take another 13 years to get from 1% to 10% of the entire economy. I think we need to encourage patience as that’d be 2035.
The way I see it:
- We need time to entice developers and tech teams to build out the tools of the new internet.
- We need time for the masses to see the flaws in our current system & leadership and seek refuge in satoshis.
- We need time for a hopeful & motivated generation to steer us out of this downcycle.
- We need time for the institutions, markets & ‘stores of value’ people rely on today to further decay.
- We need time to expand the energy grids around this new asset & lay the capacity for the growth of civilisation for the next 100 years
- We need time for game theory gravity to take hold.
As we know, Bitcoin is a truth machine. This will be recognised by most over the course of the next decade. All else has unstable foundations.
Until then… tick tock, next block.