Sure but then it’s, well, savings. My point is I can see why people would be hesitant to spend any Bitcoin they hold on everyday things because they’ll see that Bitcoin as savings (due to the fact that it’s, well, Bitcoin). If they have savings in fiat they won’t be likely to spend that on everyday things either.

Don't get me wrong, I like the idea of people spending Bitcoin on everyday things. My view is that Jack is right, it’ll become largely irrelevant if it doesn’t become an everyday currency.

But human psychology being what it is, as long as Bitcoin is seen to have this upside then I can’t see most people who hold it spending more than a token (or performative) amount on everyday things.