Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here:
https://bt.irlbtc.com/view/5562891.0 , I also tried posting on another forum and a user replied me with this:
'' They DON'T accept $BTC, they actually refuse $BTC !!
They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...
Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''
It got me thinking, If this actually true, and I sensed it, then are we getting adoption?
If most businesses dont actually keep Bitcoin, theyre not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isnt yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.
In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.
Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?
Is it true adoption if the ones adopting don't truly use or hold btc!!!
There might come time when Bitcoin won't be as volatile as it is today and that time will come when the market cap will be almost as high as the Gold but if Bitcoin investors will still easily be manipulated by Trump's or someone else's statement, then it will remain volatile. People just need to mature and ignore manipulators.
I want to say that Bitcoin can't be used as an everyday currency because it's not designed for that. Just look at the block size, we are very limited to the number of transactions with the current block size. The only way to get your transaction included in the next block is to pay more than others are paying and mempool spam by ordinals showed us that that can make transaction price grow ridiculously, to the point where it doesn't worth to buy a thing via Bitcoin. We need a dynamic block size to my mind to be able to use Bitcoin every day because there are billions of people on this planet and 300K confirmation per day is nothing.