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Edited on 17/04/2025, 09:32:52 UTC
Bitcoin’s price and adoption go hand in hand. without growing adoption, we shouldn’t expect sustained price increases. After all, demand (and thus price) is a reflection of real-world usage. But here’s the challenge: Bitcoin can’t compete with fiat for everyday transactions yet. So how do we bridge that gap?
The thing is though that bitcoin is not exactly looking to compete with fiat. It is its own currency and does not need to be compared to fiat because fiat will always be used for everyday transactions by a country or several. Bitcoin is for those who wants to make transactions with their privacy secured or maybe if they will be making big transactions and not wanting to wait for a long time for bank processes and such. Point is they have different purposes.Quote
When we see Bitcoin’s price surge, it begs the questio... Will it remain just a speculative asset? If so, that makes it a risky long-term hold, especially if adoption stalls.
Bitcoin is safer as a long term hold because it has a fixed supply. It is almost guaranteed that it will keep growing in value due to its scarcity. Quote
So if someone doubts Bitcoin’s future over these concerns, how do you convince them it’s here to stay and grow?
It is not my responsibility to do that but the simple answer is that several countries are also legalizing bitcoin and looking for ways to use bitcoin. Adoption may not yet be fully completed but it is starting. Many countries are looking to add bitcoin into their reserves as well. This is one example out of many politicians considering it:
blockworks.co/news/brazil-bill-for-national-bitcoin-
Original archived Re: Can Bitcoin Succeed Without Mass Adoption?
Scraped on 17/04/2025, 09:02:32 UTC
Bitcoin’s price and adoption go hand in hand. without growing adoption, we shouldn’t expect sustained price increases. After all, demand (and thus price) is a reflection of real-world usage. But here’s the challenge: Bitcoin can’t compete with fiat for everyday transactions yet. So how do we bridge that gap?
The thing is though that bitcoin is not exactly looking to compete with fiat. It is its own currency and does not need to be compared to fiat because fiat will always be used for everyday transactions by a country or several. Bitcoin is for those who wants to make transactions with their privacy secured or maybe if they will be making big transactions and not wanting to wait for a long time for bank processes and such. Point is they have different purposes.Quote
When we see Bitcoin’s price surge, it begs the questio... Will it remain just a speculative asset? If so, that makes it a risky long-term hold, especially if adoption stalls.
Bitcoin is safer as a long term hold because it has a fixed supply. It is almost guaranteed that it will keep growing in value due to its scarcity. Quote
So if someone doubts Bitcoin’s future over these concerns, how do you convince them it’s here to stay and grow?
It is not my responsibility to do that but the simple answer is that several countries are also legalizing bitcoin and looking for ways to use bitcoin. Adoption may not yet be fully completed but it is starting. Many countries are looking to add bitcoin into their reserves as well. This is one example out of many politicians considering it:blockworks.co/news/brazil-bill-for-national-bitcoin-reserve