110 sats \ 1 reply \ @faithandcredit 29 Aug 2022 \ on: Lyn Alden AMA bitcoin
Do you think Bitcoin is losing its relevance in the world? It seems the massive awareness campaign in the early 2020's has kind of backfired, at least if you look at price, I mean in terms of getting attention it was a massive success, but what remains seems like a blockchain that is barely being used and many people lost alot of money so far. So what is the path forward from here you think?
I think that could be the description of it each time it reaches a bubble level. That's how the 2017 peak looked too. This drawdown cleared out a lot of bad leverage.
Also, I view holding it as using it. One of the purposes of money is to be held. Non-custodial portable money is a good thing to have as a nonzero portion of someone's net worth. It represents the stored-up ability to use it later if needed or wanted.
I think Lightning is reaching critical mass over the past couple years too, and especially if combined with stablecoins (Taro), that could kick things up a notch from here. There is a demand throughout countries with high inflation for dollars (something they can hold for a few months with relative stability), and all else being equal, I think offering them Lightning wallets that have the ability to hold/send both bitcoin and stablecoins can increase adoption of bitcoin.
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