The idea of Bitcoin being boring has been discussed on SN before, as well as during my previous SN post on Bitcoin's Lost Decade™.
I'd love to gauge official Stacker sentiment on when we might see the youth of tomorrow disengage like they do with gold today, calling Bitcoin "boomer" technology or a "pet block"...
They do today!5.2%
20252.6%
20262.6%
2027-20305.2%
2030-203922.1%
2040-204911.7%
2050+18.2%
Never32.5%
77 votes \ poll ended
It'll never be as boring as gold (we stopped using gold because it is a literal rock) but it'll eventually be taken for granted if it undergirds the global financial system which I would place in the 2040s at the earliest.
Agreed. I think comparing to fiat like the dollar is more of a apt comparison. For most people the dollar is very boring. I just don't know if it was every not boring though.
It was probably pretty exciting when the telegraph was invented because it allowed us to "transfer" value globally.
A bit off-topic, but the fiat networks don't/can't transfer value. They transfer credit.
The Bitcoin protocol/network, on the other hand, does actually "transfer" value.
By that you mean they are IOUs. Not bearer instruments.
Yep, forgot about that. Removed a ton of barriers. I think people forget this when they talk about the boom at the turn of the century. People like me :)
Yeah my mids 20's kid might care if/when he realises his GenXer parents and little bro weren't talking shit after all 😂
I think you're having trouble with either the definition of "literally" or the definition of "rock".
Gold is literally a metal.
Gold is figuratively a rock.
I'm actually just stupid.
💯🔥
In terms of price/adoption still a long way to go. Most companies will need to follow Microstrategy plan, nations states will need to follow El Salvador path and probably stack with mining using stranded energy from the national grid and taxing citizens in bitcoin. Banks will probably need to also have bitcoin reserves. So yeah still a long way 2050+ imo.
I think Bitcoin was not created "to be fun". It can be fun for some cryptographers, economists, libertarians, etc. because it is interesting and ground-breaking for their respective fields. Probably it is not "fun" for most normies, unless they see it as a get-rich-quick scheme, but they won't last a bear market if that's the main reason why they buy it.
"Fun" is overrated, it has become a marketing argument to entice idiots (e.g. Taproot Wizards & shitcoins). It is part of the peak-fiat hedonism we live in. "If it's not fun, it's not worth it". It's a kid-like mindset. Some people need to be always distracted and entertained, just like toddlers, because they are unable to see beyond their noses and face reality.
Bitcoin is what it is: it doesn't need to be "fun" or "boring" to fulfill its purpose!
i’m torn.
i think of bitcoin adoption as an s-curve, but i’m not certain about where on that curve we are.
i think most investors will start to look for new investments beyond bitcoin once they no longer think it’s realistic for bitcoin to 10x in a decade.
Very early. I mean if you measure by adoption we are very early. You can measure by market cap but I think people holding bitcoin is a better measure for where we are.
Boredom over bitcoin is an IQ test
My 25 yr old could not care less about it but my 18 yr old is very much into it, so it's a tough call, might depend on the person's mindset
Everything is a probability. There are some youth who are into gold. Probably many more who are into Bitcoin. I think the vast majority aren't into any monetary technology at all. Anyway, for this poll to mean anything we need to get more quantitative. For example, I might pose this as "For those with an opinion in the 18-34 age group, at what point do more than 50% of them identify Bitcoin as boomer/pet rock?"
For this I chose 2050+ or later. Forever is a very long time. What's with polls not appreciating the exponential?
If you're thinking about the price of BTC, the currency, probably in a decade or two.
If you're thinking about the network Bitcoin, its development, its uses,etc... never.
When it's centralized
If it's controlled by the government
Maybe in the year 2140
BITCOIN IS BETTER AT BEING GOLD THAN GOLD IS
TL; DR
So, the term 'boring' does not exist in the Bitcoiners' lexicon.
I think some people find money boring and there are those who find technology boring, and there are those who find either or both very interesting.
Never!!!
When new issuance of Bitcoin stops hopefully it will be stable enough to be used as a transaction medium
Bitcoin is a network program, a money protocol that is constantly improving. As long as creativity exists, Bitcoin will never be boring.
As long as there is adoption and hight inflation will never be boring
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Agreed always will be bugs to fix and upgrades to be made