They completely ignored how we have people holding Bitcoin not willing to spend their coins, because every purchase likely results in disappointment weeks or months later, because the price keeps going up.
I'm pretty spend happy. That's because I earn a bit of BTC via sig campaigning. That's the difference. No one buys something to buy something and that's why there won't be any consumer adoption worth mentioning unless people are being paid in crypto too.
The only other time people may be willing to spend is when they have large amounts of gains, but of course many expect more so sit still.
I doubt significant amounts of people will ever receive their actual wages in crypto. The next likely avenue would be via cashback or some sort of loyalty scheme. Even then they're likely to stay put.
Merchant adoption may be more likely to take off in shithole economies, but then again they have an even stronger incentive not to spend it.
While it's very handy for those of us who are already balls deep, I think the outlook isn't looking too rosy for its use for day to day spending. It's certainly not on the up at least.
Good points. Its a bit like chicken and the egg. Getting a salary paid in bitcoin
is pretty usless unless you are living at home with your parents and not contributing
to any bills. But if you are a home owner, tennant, have a young family, have a car,
or any other responsibilities getting paid in crypto is useless because eventually
it will have to be converted to FIAT.
