Quote from: samuel-sd on July 29, 2020, 12:58:07 AM

Bitcoin has unique properties that no other asset has, I believe that these properties are the real value of bitcoin. Bitcoin does not need to be backed by anything except its properties. I believe that the main bitcoin purpose is a store of value. Many people say that bitcoin is not used as a medium of exchange and that's true, it's not convenient to use it because transactions are slow and fees are high for small purchases. People don't use bitcoin to buy stuff, people use fiat because it's more convenient, right? We have so many really good mediums of exchange, does bitcoin need to be one of them and compete with them? Hell no.

Let's look at bitcoin from a store of value perspective. How would a new store of value adoption look like? What is the measure of it?
Just two things:
1. Accessibility, convenience of buying and selling bitcoin.
2. Level of people's trust (most important)

More people believe that bitcoin has value, more valuable it becomes; that's a simple rule of a store of value. So, bitcoin adoption is in level of people's trust. The higher level of trust bitcoin has, more adopted it is. I think while bitcoin keeps its properties, it will earn people's trust and become more and more valuable. In 20 years, no one will ever doubt that it has value and the exchange rate will reflect it.

I don't really think the adoption of Bitcoin is based on the level of trust people have for Bitcoin. Adoption will come when people understand and know the true nature of Bitcoin. Trust comes into place when people have sufficient knowledge about Bitcoin. Without knowledge, people can not trust the outcome of something. What is actually delaying the adoption of Bitcoin is based on the fact that majority of the people living in this world do not really know what Bitcoin is and come to think of understanding its decentralized nature. Knowledge and understanding is the only way to get people to adopt Bitcoin.