Why is the concept of checkings/savings beyond so many people?
Is it because this generation never had a differential between them or are people just retarded nowadays?
Discussion
It’s because people are used to money being worthless shit to get rid of and accumulate as debt because it’s infinitely bleeding value.
The idea of it being something to actually be thoughtful about and wanting to hold long term is bizarre for most people.
You’re right, but I want to know when this set in.
I’m your age, when I was a teenager here in Australia I operated cash registers. We had digital payments terminals then that allowed TXs via SAV | CHQ | CRD. Green, green, red.
Rich people used Credit cards. Normal people used Cash or SAV. Old people used Cash or SAV or CHQ. Kids used loose change.
20+ years ago and chequing accounts were already done in Aus. Millennials got Savings accounts as kids, but 50/50 that they got chequing. I did at my first bank, not the second where I got a “children’s account”. I never got “Chequings” again. I’ve had “Everyday” accounts which is the same but rebranded, and never had a lesson on how banks work so I only realised all this once I understood Bitcoin - people aren’t being taught basic personal accounting in a highly financialised world.
Thinking on my interactions with developed Western fiat world of banking, in the 90s here at least they wanted us to save.
Nowadays they just want us to consume.
When did this flip?
When did they stop wanting us to save and turn to outright consumerism? When did people stop understanding how money works? When did people stop understanding banking? Was it all 1971 or did the knock on from that remove us either, later?
Saving bitcoin for what? To cash out into fiat and put in a checking account because you know you can't purchase anything in bitcoin except drugs? If you can't buy food or cars for bitcoin without it being imediately cashed out through a thrid party fiat exchange mechanism than its falied to be what it was supposed to be. Its just a token for fiat with a volatile exchange rate. It isn't money in itself. Nobody wants to hold it, your supermarket isnt going to take your bitcoin, ever.
Nobody wants to hold it. You sure? If that was the case why is the market price so high?
Rich BTC dudes gave up their adoption efforts long ago. They are happy with their deal with the devil. TradFi and government approved store of value that neither endangers the power of corporates nor the state.
If you want real adoption you are better of with Monero and how ironic with bcash.
My supermarket accepts it. So you may want to rethink that.
No it doesn't. AT best it accepts a bitcoin-fiat payment mechanism like bitpay. The merchant doesnt even see the bitcoin, they don't even have their own address.