Is #Bitcoin for storage or consumption? Now meet most people are used to store wealth, if only to store and do not consume, where is the meaning of the lightning wallet. This might be the biggest BUG in the lightning wallet. The more people identify with Bitcoin, the more likely they are to save it rather than spend it
Discussion
It’s both. Real money should be able to provide both use cases. Since it’s hard money you save as much as you can, and spend on what you truly value, instead of wasting money & time on something that’s not worth it.
Yes
Yes, but most purchases in life don't require hard choices and thinking.
But maybe they should?… we are spoiled and lucky that many of us may not have had to deeply consider most purchases… it’s not like that in many other places… just saying… 🫶💜🤙🧡👊🙌🫂
Yeah, on a bitcoin standard people would subconsciously start making better spending choices because the price signal wouldn’t be distorted distorted.
Yes, the price. Is it consumption that makes bitcoin valuable, or value that makes bitcoin consumable? The first bitcoin purchase in history, two 🍕🍕pizzas worth 10,000 bitcoins in 2010, now worth $270 million, is now considered by most people to be a waste of bitcoin. If we had spent two pizzas in fiat money, they would have been part of our daily consumption.
Popularizing #Bitcoin consumption seems to be driving against the wind.
What's the point of bitcoin if you don't eventually use it to improve your quality of life?
It's a good question, and I don't know if storing wealth is going to be the biggest obstacle to Bitcoin adoption.
I guess it depends on what you consider adoption to be?
While price discovery is still underway, there will be more holding. But as bitcoin matures, more spending will take place within circular bitcoin economies. This doesn't happen overnight 🙂
We likely stand on the threshold of an adoption S curve. I’m hodling 10-15 years until the volatility is gone, then will assess consumption.