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RE: Cryptov8 [CRV8] - The Need of Time - Bringing Banking into Blockchain
The more efficient monetary system will win
Of course it will all come to that in the end.
The more efficient monetary system will win
Of course it will all come to that in the end.
Ya that’s it! I see so many people running around panicking about all these problems like “use case” lol “we need to spend our bitcoin” no more hodl!!! It makes me laugh these ppl think that’s going to make difference. It just needs time to scale and humans to adapt. Stability and less volatility will come as the market grows in to the trillions and with that crypto will slowly change from holding as an investment to using it as currency.
It’s as clear as day for the patient minds.
You made a good point. There are no shortcuts. Bitcoin was supposed to be a digital form of cash used for your day-to-day transactions but instead it turned into an investment tool and the 'use' aspect somewhat got left behind. And I think it hurt Bitcoin.
While time and adaptation is important, we also need to have the necessary tools available when the time is right.
People are having a hard time understanding that it’s ok if bitcoin isn’t being used as cash right now, it was always a known fact that it would have go through this speculative phase before it builds up a big enough market cap to stabilize the volatility. Just the natural process it must go through! There is no way around it. If there is money to be made from a limited supply people will hoard it! It’s just a FACT of life. But that’s ok, it doesn’t mean bitcoin is broken and not living up to satoshis vision, that’s the wrong perspective. I am in full support of building these much needed payment tools but people need to stop the use case digital cash vs investment debate. Both are vital for the future of crypto and will coexist together as a natural process.
I think those debates are no longer valid. As Bitcoin will remain an investment tool. There are more faster, cheaper, and scalable blockchains that can fulfill the gap for a digital cash. But I think we are not ready for that. As you mentioned earlier, we need Trillions to bring the risk averse merchants to accept Crypto. The volatility factor is probably the scariest one for them. Tx