Bitcoin HAS To Become a Spending Currency, Too...
I know probably most of you don't like the idea of spending crypto. HODLing over the years has proven to be highly lucrative and what can be spent right now could 10X in value over the course of a few years from now.
Bitcoin, however, hasn't been designed as a speculative asset, I bet Satoshi didn't had that in mind when writing the white paper. Nevertheless, most of us are avoiding spending Bitcoin or any other crypto on groceries, cars, houses or whatever... You might miss future insane profits, right...
Well, I have a case for you where Bitcoin would have better paid as a spending currency, or should we say as an asset/store of value and spending currency at the same time, than just being a speculative asset.
69-Year Old Israeli Lady Turned a $3K Bitcoin Investment to $320K: Now the Bank Refuses to Deposit.
I will first have to applaud this lady's incredible vision and open mildness for her age and at the same time show my disrespect towards the damn bank. You see how banks are, when they need you and your cash and need to have you as a client they're like a cat purring around...
But when you're having options, they start invoking AML shit and kick you in the ass in no time. What illegal activities could have that lady conducted to earn $3,000 back in 2013 and buy Bitcoin with it?
The problem with Bitcoin and ultimately crypto, right now, is that we still need fiat systems to put these profits to use, if we don't decide to HODL for decades. We don't have yet much options when choosing to use Bitcoin as a spending currency.
The lady is planning to use that money to buy her son an apartment, but the bank refuses to accept her profits in her personal bank account and has to go through court for that. We would have been way better positioned when it comes to crypto if focused more on making Bitcoin a payment currency than hustle for these damn ETFs.
Even Michael Saylor, who is probably the biggest bull out there, is kind of missing the point of Bitcoin, El Salvador does better in that regard. He(Michael Saylor) kind of twists the narrative around his needs and vision.
I am of a different pedigree, though. The crypto world for me is a world where we get to put these technologies to use, in our daily lives, for all sort of purposes. When we will reach that level, en masse, we will be able to say that Satoshi's vision has touched fruition. Meanwhile, we're still in a speculative bubble.
Thanks for attention, Adrian
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