Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ...
by nineplay on Monday February 08, 2021 @11:32AM
(#26066669)
> Most people aren't looking for an investment vehicle, a replacement for USD, a way to challenge central banks, or a way to perform zero-trust financial transactions.
I agree with you, and I am a "invest in a well-balanced mutual fund and retire in comfort" sort of person, not at all the target audience for bitcoin.
Still, even an explanation of why it had the potential to replace USD or challenge the central banks would have been interesting. No one seemed to go further than "because I said so"
Honestly I've yet to meet anyone who wants to take down central banking who seems to have the faintest idea how banking works.
The truth is for most people, there's no reason to care. Maybe there will be in the future, but not yet.
Most people aren't looking for an investment vehicle, a replacement for USD, a way to challenge central banks, or a way to perform zero-trust financial transactions.
Most people want to do what they already do in day-to-day life but with less overhead costs or more ease of use. Bitcoin does nothing for this: on-chain transaction fees are too high, lightning network is not there yet, very few places offer support for btc payments, and so on. All these problems add up to a simple conclusion that btc is not useful for the average person, so instead proponents have to sell a majestic vision of the future or a get-rich-quick scheme. Most go for the latter.