Seeing how bitcoin correlates to the stock market, your prediction is very reasonable.
This will be a long journey, likely play out long after we’re all gone.
Discussion
Yeah, I mean, Bitcoin has more or less regressed into trading like a risk asset for the past 2-3 months. It's a serious narrative violation to say that, but the charts and correlations don't lie.
There are a few of us who still live in reality 😊
I think assuming bitcoin has already won, hyperbitcoinization is inevitable, and it's only a waiting game until it happens, is borderline religious fanaticism, if I'm being honest. There's hard work ahead. That's going to be apparent in the coming months and years.
What do you feel could be the major obstacles? Miner regulation?
If everyone were to rush to bitcoin tomorrow in some mass exodus from fiat, literally everything would break, including bitcoin. Literally everything. We'd probably end up nuking ourselves into oblivion in the midst of the chaos.
People have a poor appreciation for path dependence in complex systems.
😂
Yeah we even have issues with custodial lightning just within nostr, never mind a nation state or all nation states.
I also come to the conclusion that it’s going to be the long journey. We really need to fix scaling issues before mass adoption.
We are still early and likely going to be wealthy in a decade. It will be a slow grind.