11 sats \ 0 replies \ @rebel_nomad 13 Oct \ on: We don’t need more bitcoin merchants bitcoin
Culture is built by large groups of individuals as well as internal groups managing the real, ever changing world.
Until the internet came around this was largely bound to geographic areas, so far we've only seen subcultures developing on things like political fronts, and now especially since 2020 as a global, cross-cultural freedom movement.
Its very concerning that there are signs like this of the Bitcoin culture failing to deal with the needs of the real world, that is for sure!
However, most of the early adopters, and especially those who buidl on Bitcoin certainly know that something big is about to hit, be it financial, geopolitical, or an escalation of WW3.
Personally I'm still watching for yet another black swan event daily, both geopolitically as well as in how Bitcoin develops. I'm sort of prepared for a deep dip, especially if this triggers real adoption on the other end.
I've already met actual refugees who've managed their situation with Bitcoin (and by derivation "cryptos"), in previous times they would have ended up in a far worse situation, or might not have been able to get out in time at all!
In reality I'm in this category myself. Yeah I could return to the WEF/WHO hell that my home country has conjured up, but besides the spiritual defeat and annihilatory inflation I actually regard that as more dangerous than even the rear portions of a war zone. Why this is the case is complex, but I'll get around to explaining why as time passes here.
This is then also the reason why I will certainly spend, and especially use some of the Bitcoin I hold once we get to the right point of time!
What I will choose to do then is something I cannot know now. If things develop in benign ways with a prospect of WW3 winding down I might invest in starting a company that gives me a realistic way of building revenue streams within BRICS, maybe even both spheres of influence.
Now if things go real bad I'd have to invest in getting to the right country instead, and maybe even start a new fiat business there, survival in order to fight another day will always be the top priority of course.
I do see a real, very easy to spot difference between the Bitcoin users who have these sorts of experiences and priorities to deal with and those who for now at least have fiat jobs. There will also be a marked difference in how those two cohorts think about spending, especially since its about staying free and even alive...
What might be the conclusion to all of this? Maybe we'll get another sharp V drop and surge, which kickstarts adoption for real?
Or maybe the amount of people who need Bitcoin as a tool will simply keep on growing, and especially exchanging into fiat or using it as a not so visible internal market, effectively making for a floor for the next bear market?
These are things I will be watching. The one thing that could make me get real concerned is of course if we get well into 2025 with no sign of a new wave of adoption shaping up...
If digital gold becomes the only function of Bitcoin and Lightning is marginalized, then something else will "steal" the end user adoption. That should be pretty much clear!