Berkshire Hathaway doesn't pay a dividend.
Bitcoin doesn't pay a dividend.
Normies are okay with zero yield on the former, but when it comes to the latter - "where are my cash flows?".
Discussion
Pro-tip when discussing Bitcoin with normies;
-> Always reframe with a point they can trace all the way back to their own experiences.
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I agree, but where then do you point them to acquire their sats? Everyone is used to purchasing financial products via KYC regulated businesses.
Do you think the discussion about those risks comes once they are a little further along?
KYC based exchanges that hook up to their bank accounts.
This is something they're comfortable with, they'll get the benefit of the lowest fees, & fucking up is almost impossible.
Is what it is right now for normies right now.
So long as they self custody that's all that really matters.
Some do realize that non-kyc is an option but then balk at the fees & if they don't operate cash business - the risk doesn't manage the reward for them.
The stock produces significant cash flow, it's just custodial with brk bank instead of your stock account, but you have a claim on that cash
Owner operating earnings