• Podcasts democratized radio. It won. • Streaming democratized music. It won. • Social media democratized fame. It won. • The internet democratized knowledge. It won. Bitcoin democratizes money. How does it not win?
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There are tons of onramps being built making it easy to acquire bitcoin. As for currency, Bitcoin's most important function right now is a store of value given central banks globally are inflating away the purchasing power of fiat currency. Spend in fiat, save in bitcoin.
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Also, second layer solutions like the Lightning Network will make it easy to use bitcoin as an actual medium of exchange. You need to look at where things are going, not where it is today. The internet was pretty hard to use when it first came out too...
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For all my bulleted examples, we saw early adoption 10-20 years prior to mainstream. Maybe BTC doesn't win but crypto (in general) can't not win.
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It's Bitcoin or nothing. You can't replicate Bitcoin's absolute scarcity and immaculate conception. There's a reason every single cryptocurrency is trending to 0 in bitcoin terms (along with every other financial asset). Its network effect is way too powerful to stop now.
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I don’t see Bitcoin ever being widely used because of the enormous power consumption. Maybe once that somehow gets solved...
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Bitcoin's energy consumption is a feature not a bug. It doesn't need to, nor will it ever be "solved." It also incentivizes miners to find the cheapest source of power, which drives innovation in the energy sector. The energy argument is largely FUDhttps://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption …
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