In my opinion bitcoin will become the medium of exchange for the majority of the world only when workers, merchants and entrepreneurs will stop accepting anything else for their work, products and services. This will not happen before the USD collapses. Possibly also the USD successor will need to collapse as well. People adopting BTC today are the early adopters and a minority by definition. I'm doing my part, I'm spending where I can and engaging in the community. But we are few and it will remain like that for decades. Adoption of a new form of money is not as easy as changing from a flip phone to a smartphone. Majority of the population will do it only when they have no other option, when their life is in danger. Ergo: using BTC just as a SoV (savings!) is also using it as money and it won't significantly impede the adoption. Yes, we should spend it and use it as MoE and UoA even. This will help a little. But I understand and respect also those bitcoiners, who didn't start yet.

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frphank's avatar
frphank 2 weeks ago
> This will not happen before the USD collapses. Possibly also the USD successor will need to collapse as well. Fiat currencies have collapsed many times throughout history. Fiat is basically one long chain of collapses. But then another fiat currency always comes up and gets adopted again because fiat is still the only viable option even with a cycle of collapses.
In this case of either use crypto or life danger... Wouldn't the hidden ledger of moneros be more attractive than BTC in the open ledger?