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The vast majority of people who hold bitcoin now hold it as a store of value . Or most of it, minus the performative-spend budget.

And those new to bitcoin will purchase it as a means to add to their store of value.

Medium of exchange just isn't in the picture here, really.

SatsAndSports 3mo ago 💬 1

Actually, you're kinda agreeing with me now, even though you think you're disagreeing with me 😃, as you keep agreeing that more people are seeing it as a store of value

Imagine two people meet to trade something (a coffee, a car, a yacht, ..) for money

Both are huge fans of bitcoin, and therefore have all of their wealth in bitcoin

They will use bitcoin - not fiat - for the payment. The buyer of the item has only bitcoin to pay with, and the seller wants more bitcoin

This is already happening in some parts of the world. Many people are saving more in bitcoin

As I explained earlier, it'll be a slow process to get more people to see that bitcoin is the best store of value

And once more people realise that, then the medium of exchange is inevitable

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Discussion

Garbage nsec 3mo ago 💬 1

This is the middle of the IQ curve meme. In reality the seller will be happy to take bitcoin, but the buyer will not give up their bitcoin. Bitcoin will attain Patek Philippe status, you never really own it you just look after of it for the next generation.

And you certainly don't fritter it away on matcha lattes and trips to Bali.

People are selfish and instinctual, and they will always have other less valuable assets they can exchange for their matcha lattes. The trend of the past 5 years is abundantly clear.