If bitcoin is still operating, it is not irrelevant. That’s how the market works.
So it either dies completely, or it will be a means of escape for those that embrace it.
And that’s always been the deal. It goes to zero or ends up eating everything.
So are you saying it’s going to die?
What im saying is not hard to grasp, BTC is turning into a expensive Blackberry. Youll make money trading with someone who sees value in it at a high cost, like an ebay auction bht not as money. There is usage but its path isnt global freedom peer 2 peer money. For some thats ok, for the original vision its a horrible end to a brilliant movement addressing a real problem.
On another note i am warning you like a mirror reflecting something you cant see. Be careful thinking that bitcoin has to win, because you will allow the state to take everything else from you on the promise that they will use bitcoin as a way to help people, the promise youll be financially strong and that the countries economy will survive. Its the same playbook with stocks in the 70s, some people did get rich but its just delaying the optics of decline of the overall situation.
Yeah, see bitcoin winning doesn’t involve any of those things. At least to me.
Bitcoin winning means it continues to survive and hasn’t had 100% of all coins captured by the state - something that I think is impossible over any reasonable length of time.
I don’t think nation states will ever use bitcoin as their currency. Best case is that they use it as a settlement for trade with other countries (that they don’t trust).
I don’t expect countries to ever serve their people, and bitcoin certainly won’t enable that - tho it may hinder the state from harming them on some small scale.
I don’t think bitcoin will make most people rich.
I don’t think bitcoin will protect people’s money from theft any better than a bank can. UX and personal security will always fall flat.
I *expect* economies to fall over and even some nations to die (and be reborn as something else). The EU is done, as far as I’m concerned.
So perhaps your warning is to the foolish. The utopian dreamers.
Bitcoin promises the ability to always allow me to send money where I want anywhere in the world quickly, prevent theft when I take no action, and to prevent monetary inflation.
None of those promises guarantee it as a store of value - but they sure do help.
I think your concerns are largely echoing ideas and values that people have assumed and aren’t part of bitcoin’s core mechanics.
None of those mark bitcoin as a failure. It’s just hard money. So long as it survives, it will continue to be hard money. And eventually it will be used by people where the state prevents them from doing what hard money allows.
