238 sats \ 3 replies \ @Public_N_M_E 11 Aug 2023 \ on: What does Bitcoin need MORE of? bitcoin
I'm gunna get lynched for this comment.
Exit liquidity ;)
I joke, but it does need more users.
Edit for more context. For it to be more widely accepted as a payment method, it needs users who want to pay with it. Shops are less likely to use payment systems that their customers don't want/need/use. So bitcoin needs more users. Not just people hoarding sats moving it to cold storage and awaiting wife changing money. But people using it as freely as they would cash or contactless card payments.
I see some places that accept it as payment here and there and my thought on it is "ah that's cool, glad it's an option" not "I will use my BTC for this purchase". No one wants to be the guy who paid 10,000 BTC for two pizzas.
Spend & replace (instead of just hodling) would become a lot more popular if/when the "replace" part becomes easy and non-KYC by default.
reply
Agree. However KYC isn't awful. It's just intrusive and a barrier for speed. Once set up it hasn't been a problem for me buying on CEXs with KYC and transfering out to other wallets.
reply
That's called spending less than you earn ;-)
reply