I am not trying to dismiss Bitcoin, But sometimes people have to wake up to the truth.
I Completely agree on this point! People are overthinking and overestimating bitcoin to a great extent. Which is obviously not true! Quite often you will see people saying that bitcoin will take over the world's money supply or become the main reserve currency and blah blah blah. But deep down we all know that's not going to happen!
Someone must rule or else there will be no rule and we all will be living in a lawless land. Bitcoin is a parallel economy, not a mainstream one!
Which one is easier to think about?
- one intangible thing not having any physical presence, turned its value from 0 to $100K?
- one digital currency which has surpassed paper money by getting people's support?
To me, 2nd one is easier to think and dream of.
Of course, the government has a lot of power but the people will protest when their backs to the wall. And no matter how arbitrary the government is, the government has to survive by obeying the will of the people. I am convinced that in the future there will be no paper money, all transactions will be made with electronic money.