Post
Topic
Board Bitcoin Discussion
Re: Global adoption — A ridiculous term
by
BlackHatCoiner
on 09/06/2021, 14:45:51 UTC
People don't understand that global adoption doesn't mean that you will be able to buy coffee or beer with Bitcoin, but you will use as back up especially when current fiat currencies crash and burn in near future.
This is what I explain on the first sentence of the OP. There's no standard definition for global adoption; anyone can assume their own.

Better ask Venezuela, Nigeria and other countries that had hyperinflation can they buy something with their local currencies, they are faster and you can use them to warm up if you are freezing in winter.
Look, I get you, I'm just not quite convinced that a digital commodity with a hierarchical structure and with a very volatile market price can be used as a medium of exchange. I find LN really cool as a solution to the scaling issue, but there are lots of people believing that due to its existence, it can be globally adopted as a medium of exchange.

Then, there are people like you (including me), that see it more as a long-term store of value.

Sorry @o_e_l_e_o, I don't really understand how bitcoin will have a relatively stable price/ the price drop to a minimum when it reach global adoption while we know that bitcoin price is quite volatile long ago. So far I only know that every bitcoin sold in large quantities will affect the price quickly and the price will drop temporarily.
o_e_l_e_o probably takes it for granted that the island will someday stop having newcomers. In that case, it'd surely be less volatile.