The problem is that most of the people in crypto see Bitcoin as an asset like a stock to invest in and then sell later. No one even thinking about the future of Bitcoin as means of currency. Bitcoin was created NOT as an asset, we use it as one, it was created to solve a banking problem and create money of freedom that can't be faked and printed. And somehow people are literally forgotten about this whole point of Bitcoin.
Some businesses accept bitcoin and they also have clients that pay with Bitcoin. I am aware of a businessman in my country that uses bitcoin for International trade. Almost all his imports from other countries are paid for using bitcoin. The major challenge that has limited the use of Bitcoin as a currency in my country is just unfavorable government policies.
I created a thread asking people what they think bitcoin will stabilize enough to become a currency for people to use and literally everyone said to me that it's an asset and it will never stabilize. And, don't get me wrong, sounds logical and I agree with that.
But if we treat Bitcoin like this, why are we waiting for the "mass adoption" and want businesses to accept Bitcoin that is not stable in any means to use it as a currency?
In the future bitcoin might become stable. People are making assumptions now based on the current happenings but we don't know what the future holds for bitcoin. As I said before one of the biggest impediments of mass adoption of bitcoin is government policies. In my country, many people will use Bitcoin as a currency if it becomes a legal medium of exchange. This is because banks charge high transaction fees and inflation is making our local currency lose value.
Another big problem is that everything in crypto spaces becomes centralized. Recently I tried to sell my crypto without KYC and I didn't find any good platforms to do it! Just think about it...nowadays you need to pass KYC to sell crypto without high fees. That's crazy.
Almost all platforms and even some wallets require your ID which is the opposite of anonymity. And because of that there are fewer and fewer platforms that offer you services without KYC and therefore because there are not many of them here they hike up their fees to the sky.
P2P is the best means of buying or selling bitcoin. But because these platforms don't offer their service in some countries people now rely on exchanges. Mass adoption will gradually push these exchanges out of business because P2p transactions will keep growing.
Add to that the fact that even wallets are not safe. Ledger literally offered people to save their seed phrase in the cloud. The mere fact that they CAN take your seed phrase and upload it somewhere is a reason to never use ledger anymore.
So considering all this, it looks like crypto right now is moving to centralization and control over our funds. Bitcoin is just an asset to people and I don't see how everyone can use it as a currency.
That's why I think that Bitcoin ideas are dying.
We still have other safe decentralized wallets that can be used. The simple thing to do is to ditch Ledger and choose another safer wallet. These points you raised are not concrete grounds for you to conclude that bitcoin idea is dying because there are many positive things currently that will give you a glimpse that Bitcoin is trailblazing.
