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If you search for it, you’ll realize that there isn’t a standard definition for the “global adoption”. Bitcoiners tend to use it in their sentences as a way to describe Bitcoin’s adoption by everyone on every part of the planet, hence “global”.
The same people who believe in the so-called “global adoption” are the ones that see Bitcoin as a currency and believe in its “noble principles”. While I do get their enthusiasm, I think this is very much missing the point. Sad truth, but Bitcoin can’t have a global adoption same like computers or internet had decades ago and I state this from an economic aspect. You should just think about it. The more users this thing has, the more the speculation. Not sure why it’s being passed from forum members, but it does look like a pyramid scheme with utilities to me. Early adopters/investors get the chance to be included in the peak of the pyramid and earn more long-term. Overtime, I don’t believe that it’ll remain steady, it will probably reach millions of dollars.
What I want to mean in this topic is that the problem doesn’t come from the fact that the majority sees it as an investment. The issue becomes clear if you notice its hierarchical structure. I’ll quote myself to prevent re-writing a childish example:
Quote from: BlackHatCoiner on May 30, 2021, 08:33:55 AM
(In the system below, 100 fresh bitcoins are brought into circulation every day.)Let’s assume that once upon a time, on an island, there were 100 people with 100 mushrooms in total and each one of them had 10 bitcoins, willing to use it as a currency. This means that each mushroom costs 10 BTC since there are 1000 BTC in total. But, hey, the next day, there are 1000 newcomers bringing 1000 mushrooms and they are also willing to use Bitcoin as a currency. But, unfortunately, there are only 1100 bitcoins in circulation which means that each mushroom now costs 1.1 BTC. Same thing would happen if that little community gained 10,000 new mushroom-farmers the next day. Every mushroom would cost 0.12 BTC.
It is justified for a Bitcoiner to want global adoption; he’s becoming richer. But, it’s tiring seeing it repeatedly represented as the solution to the modern financial system. It surely satisfies a lot, don’t get me wrong. I personally believe that if you want to buy something from other side of the planet, Bitcoin is your greatest option. There are many other reasons why you should use Bitcoin concerning privacy and third party prevention, but please, global adoption believers. Stop displaying it as the world’s deliverer, because absently, you’re doing this to increase your future wealth.
That’s why I call it ridiculous.
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