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0 sats \ 2 replies \ @028559d218 12 Mar \ parent \ on: Saylor says Bitcoin is Capital not Currency bitcoin
It wasn't about payments. It was a monetary network that included peer to peer payments (and settlement specifically).
I don't believe it's <5% 'using it' I think it's more like .1% at the very most and probably not even that many. The coporate 'adoption' is basically MSTR at this point and maybe Square (Block) but that's about it.
Most people still think it's a scam because 'crypto is a scam' and Bitcoin is just another crypto somehow.
There are zero European companies using it (except for small Lightning developers) and even fewer in Asia.
There's a circular economy in El Salvador maybe and a very small, very nascent 'circular economy' in and around Lugano on a good day. But that's about it.
The biggest threat to Bitcoin in my opinion is miner centralization and fees that are 'too low' out of laziness and complacency - both of which effect people who just want it to 'go up' without having to learn anything or actually use it.
And we don't live on a Bitcoin standard - maybe in 10-15 years we'll see a lot of progress but we're nowhere near that point yet and vendors, merchants, and commerce-like adoption is still extremely limited.
Bitcoin has been growing in the 'capital markets' basically as a kind of digital gold and I think it will continue to... but it's most limited by lack of education and the possibility of miner centralization in the future due to laziness.
It wasn't about payments.
WTF?
I don't believe it's <5% 'using it' I think it's more like .1%
Anyway, I won't be cheering on institutions as they start to gobble up what's remaining and promise us that they'll never sell confiscated bitcoin.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
Why would banks need to be bailed out... if they weren't fractionally reserve?
Also payments without a solid monetary basis as a foundation... don't make any sense.
Paying in worthless tokens where a billion tokens each day are created infinitely all the time... essentially leaves the tokens worthless and the payments meaningless. If you're paying in tokens (Bitcoins) but there are an infinite number what good is the payment if the Bitcoin doesn't have value.
And for that it implies an improved, trustless (full-reserve?) monetary system.
“Most of the value comes from the value that others place in it. Gold, for instance, is pretty, non-corrosive and easily malleable, but most of its value is clearly not from that. Brass is shiny and similar in color. The vast majority of gold sits unused in vaults, owned by governments that could care less about its prettiness.” - Satoshi Nakamoto
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