Post
Topic
Board Bitcoin Discussion
Re: Bitcoins and other cryptos will never become mainstream before...
by
Dump3er
on 22/12/2023, 08:18:15 UTC
Bitcoins and other cryptos will never become mainstream before... people can buy water bottles with them.

Quite simple, many expecting an explosive entropy of the bitcoin adoption / price but truth is the average folk most common needs and use of money aren't met by bitcoin, this fact goes against the very foundation of any successfully implemented mean of money anytime across recorded history. It really is a political problem at it's core, the deep states run by bankers won't let a viable alternative co-exist in the streets. I have no doubt that with truly liberal and free alien civilizations, the blockchain technology would have attained (for all purposes) universal adoption in a shorter time that the cryptos have been around by now here.

What are your takes about that sentiment?

Could you explain to me where you can buy a bottle of water with gold? I assume you can't and that's because in most places in the world you can't buy water bottles with gold, but gold is still mainstream.

Maybe some numbers help to support that: the totel market capitalization of gold is sitting at just under 14 trillion USD. The total value of USD in circulation in the United States is just under 2.3 trillion. Now you could argue that gold was referring to the global market cap while the latter is USD in the US only, fair enough. But I am sure you get my point here. Whether something becomes mainstream or not does not solely depend on whether you can buy a bottle of water with it or not.

Different asset classes have different advantages and being able to buy a bottle of water is an advantage that USD has over BTC. But maybe you should instead have a look at all the threads where the advantages of BTC over USD are listed. The list is long! The problem at hand here is your definition of the word "mainstream".