Good point about what constitutes enough mass adoption. I should have clarified that I am referring to adoption not solely as an investment. This is precisely one of my main concerns. If Bitcoin is predominantly adopted as an investment, what if even those who espouse the Bitcoin philosophy are actually hypocritical players merely waiting for the price to reach a level where they can cash out to fiat? In terms of the Prisoner's Dilemma, if we don't consider the collective well-being of the system, the future is not good.
It’s never gonna be adopted as a currency though. Sounds like a wet dream for many of us, but realistically we all just know it won’t happen. There’s no way any government would allow this to happen, it’s loss of control, loss of power, how do you expect BTC will become anything else besides an investment opportunity?
Whether we like it or not, whether we want to say the truth or not, we’re all waiting for a price level where we can live a better life - and since life is currently based on fiat, it’s gonna stay that way and we’ll have to cash out too. Don’t tell me you wouldn’t cash out at least a chunk of your holdings if they touched a million dollars, you know you would!
Unfortunately, this is the way things work. We’re all in a race for survival and unfortunately Bitcoin won’t get you much compared to fiat. At the end of the day, everyone cares about the fiat value of their coins.