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3 sats \ 4 replies \ @Hermit 21 Nov 2022 \ parent \ on: Horrible verdict about their own product: CBs embrazing gold bitcoin
I don't know, look the internet in 30 years. From having to plug a modem to the line, to having it in our pockets 24/7.
One difference is that now Bitcoin has the internet! Look where we are now after basically 10 year of Bitcoin. I would say 20-30 more years tops. As your name indicates... Inevitable
Let's hope you're right. I don't doubt that it's inevitable, but I wish I knew when it will happen. I entered bitcoin to get rich quick, then I converted to get rich in couple years, now I'm at protect the fruits of my labour so the next generations can benefit from it… and be happy in the process. If you'd ask me if I preferred to see the hyperbitcoinisation before I die or to avoid a war, I would definitely choose avoiding a war. Will the U.S. give up the dollar hegemony without a war? Maybe, but not soon. As I said below – I think it would take more than one generation of politicians to retire. Let's work to make the bitcoin standard happen as soon as possible, but I'm at peace with not really benefiting from it financially in my lifetime.
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I don't think it needs a war for adoption, and it can exist next to the dollar for a long period of time. When companies realized they can save 3% to Visa, they will start offering it as a payment option giving you discounts for your next purchase, and people will start using it for the discount and then realize that is more convinent
See McDonald's in Lugano, or the biggest grocery company in South Africa. And the lightning network it's just a 3 years old infant. Let it grow 3 more years,.and it will become a superior system. Companies are not going to use horses transportation when they can use trucks.
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I see it very similarly to your point - I have very high hopes for the Lightning network, which will certainly revolutionize the banking landscape. To date, we can't even gauge its true potential.
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The problem is that this very market awakens the tendency in us to reinterpret it into a get ritch sceme. But you are right, if you now lower your time preference accordingly. In any case, it will be a difficult and conflicting process ahead.
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