Crypto Coins News - Ratings - Reviews
First of all, i'll like to start by saying that i love this community and everything it represents for the future of money.
I've just been thinking about this whole split debacle. I realized that, they're putting the carriage before the horse, in economic terms at least. By the way, BTC is subject to some of this flaw subjectively speaking.
Merchant adoption is all the rave being touted all around me. But they all seem to neglect something i consider pertinent and that is: the value proposition of BTC for the average person and merchants.
For the average person, you're better off convincing them to own BTC due to it being a better store of value than convincing them to use it as a secondary payment system as it's hard using BTC for mundane purchases because it's now evident that, the trajectory of this nascent assets' price is upwards. i.e 10,000 BTC for pizza is now euphemism for "don't be that guy"
Its quite funny that majority of the Crypto space are quick to point to Zimbabwe, Venezuela as perfect examples of places spending BTC but neglect the fact that, that usage only transpires due to the fact that they see it as a better store of value first before anything else otherwise it's futile.
Any merchant who's in business to make money knows that its more risk than reward accepting BTC or any Crypto at this current juncture as stability is still an issue. BTC needs to get to a point in price where the average investor won't be able to manipulate the price nor cause massive fluctuation in price(20k BTC isn't that point) Only then do i think worldwide merchant acceptance will prevail.
Remember guys, before we convinced people to buy cars, we had to build roads first. Before we convinced folks to use the internet, we had make sure personal computers were at their disposal. And lastly before BTC can get worldwide dominance and acceptance , BTC needs to be a store of value first. Let me know your thoughts below. Thanks