And to think, we as an industry wasted years trying to drive adoption of Bitcoin and when we finally succeed - it then magically transforms into digital gold...
https://twitter.com/stripe/status/955878329785053184 …
3 elements: 1) there will inevitably be losses of keys so it is effectively deflationary 2) gold-level volatility even at 9 trillion mcap is unusuable as MoE/UoA - still to volatile 3) If you believe BTC wins SoV usecase and will go from 100b to 10T... why spend before 10T?
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I think it will stabilise way before.... or have temporary equilibriums atleast for years and will have no way have as much volatility as gold as it has more knowns than gold. During this time, MoE will happen either onchain or using a stable coin layer on top of BTC.
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