thread below. Let's get the most obvious questions out of the way 1st? Yes, I'm a short-term bear but a long-term bull, and I never see a time when it will become the world currency. Here's why?
If you believe in freedom, then the ultimate measure of that freedom is BTC.
It can't be controlled by any state and is totally permissionless.
In other words, no one can tell you how and what you do with your BTC.
BTC is the purest form of currency.
Even against gold.
Why? its value is based entirely on energy alone.
Every currency is merely a measure of economic energy that is given a value that can be easily communicated to others.
ie. my labour (energy) is time exchanged for etc
IMO, BTC will always have value because people who value freedom will continue to value what it represents.
So why will it not be universally accepted as the world's currency of exchange?
Simple answer is BTC = threat.
But I personally feel it's not that simple.
The biggest advantage of BTC is also its biggest downfall.
And that's its fractionalised nature.
Remember I said, that currency is a method of communication of value? People understand single integers eg 1=1, even though 1 in real value diminishes over time people understand 1=1. And BTC isn't structured this way.
Lastly, and probably most important is the perception of safety.
No matter how irrational the concept is, some people need the government to make them feel safe.This post is based on this twitter thread.