Bitcoin will never become mainstream

[EFS]

Bitcoin is already mainstream. If you don't believe this, check out your local TV channel and see the news today. Those 6 digits are definitely newsworthy.
When you look at its limited supply and use cases, you realize that it's underpriced, not overpriced. You know your money is safe when you can send any amount of money anywhere in the world almost for free, when you can do your business 24/7 without depending on anyone, without asking anyone's permission, without waiting for anyone's pleasure.
The arguments you're talking about existed ten years ago too, even here they were voiced by many accounts. None of them stayed here, instead they watched the rise of Bitcoin from afar. In the meantime, we've used Bitcoin on a daily basis and also kept it as an investment.

[X-ray]

pretty pessimistic take, for all I know, bitcoin already become a mainstream in investing world, everyone knows about bitcoin, as for the utility, it already has enough utility for it to be adopted in the future, the people who seek cheaper transaction for sending small money can just settle with alts. meanwhile with BTC you can send billions of money like what those financial institutions are doing and it only costs few dollars if not less, how is that not utility?

the funny thing is, there are so many stocks out there that depends on capital growh and didn't even give worthy dividend and you wouldn't call it ponzi scheme, it's just a biased take in my opinion.

[ronin445]

If you hereby this thread at night take a popcorn  but  if its morning there a coffee will be suitable.
I am not going to argue Bitcoin will never become mainstream etc.
Bitcoin would reach to 10 trillion usd market cap like gold did.
Thats highly possible..
That means 500.000 usd = 1 Bitcoin

[lizarder]

pretty pessimistic take, for all I know, bitcoin already become a mainstream in investing world, everyone knows about bitcoin, as for the utility, it already has enough utility for it to be adopted in the future, the people who seek cheaper transaction for sending small money can just settle with alts. meanwhile with BTC you can send billions of money like what those financial institutions are doing and it only costs few dollars if not less, how is that not utility?

the funny thing is, there are so many stocks out there that depends on capital growh and didn't even give worthy dividend and you wouldn't call it ponzi scheme, it's just a biased take in my opinion.

Clearly the OP is one of those pessimists because even though bitcoin has become mainstream in the investment world today he still lacks confidence. There are many advantages to this system and we know that bitcoin is time-traveling which doesn't require a long process for shipping issues and that's just one of the small advantages it has. Bitcoin is also a source of power for anyone today and if invested correctly then we will get much more real benefits

In addition to biased views, he is unable to see the ability of bitcoin in history that has occurred so that the decision in the assessment is completely unreasonable. The ponzi scheme that occurs in many cases does not make him understand that bitcoin has flown much more advanced than the initial process and I think he failed to think.

[Antotena]

Bitcoin is already mainstream; it's just not used as money due to its mediocre protocol. However, it is used as an investment asset globally and has been on a mainstream level for a long time now.

Bitcoin as a money is something I wouldn't want to see and I have my reasons as opinion. Bitcoin will is a speculation assets and such assets doesn't qualify as a currency but as a value just like gold, this is why some economist says Bitcoin is not here to compete with dollar but it's here to compete with Gold and the rest because Gold is not deflationary in supply while Bitcoin is, just 21 million maximum supply to ever exist so it can create scarcity, tbe Gold market can be diluted without much notice, you can't do such with Bitcoin.

Let's government allow everyone buys and hold Bitcoin, if it's tax there is not problem but they should be considerate just like they treat stock investment with tax, this will make it fair for everyone to buy Bitcoin and even makes everyone knows what Bitcoin is about. Imagine Bitcoin been discussed on national television about the risk and how it operate, people will trade carefully and invest in their on ways.

[nullama]

pretty pessimistic take, for all I know, bitcoin already become a mainstream in investing world, everyone knows about bitcoin, as for the utility, it already has enough utility for it to be adopted in the future, the people who seek cheaper transaction for sending small money can just settle with alts. meanwhile with BTC you can send billions of money like what those financial institutions are doing and it only costs few dollars if not less, how is that not utility?

the funny thing is, there are so many stocks out there that depends on capital growh and didn't even give worthy dividend and you wouldn't call it ponzi scheme, it's just a biased take in my opinion.

I guess it depends on what you are looking at...

Bitcoin is a global phenomena, it is a legal tender in a country.

But, it is still a tiny fraction of the global economy.

Bitcoin can either go to zero or to infinity, and as of today there's a very small chance it goes to zero...

[d5000]

Bitcoin is already mainstream; it's just not used as money due to its mediocre protocol.

Ah, the "big block is gud" myth again. Monero, Bitcoin SV and other coins with theoretically unlimited block size would have also problems to handle a Visa-level transaction throughput -- with one exception: those that embrace centralization.

Now imagine a coin, for example Monero after years of blockchain growth via its adaptive mechanism, with 1 GB of block size, where only 20 nodes worldwide would have the capacity to operate a full node, and all others need some sort of SPV connection. Wouldn't that be a bit scary for a privacy coin?

See also this: https://www.reddit.com/r/Monero/comments/hyo31f/monero_theoretical_maximum_transactions_per_second/ - even in the absolute best case scenario described there, it would not be able to scale like a centralized system like Visa.

I've already mentioned the solution several times: second layers. And yes, these are crucial to "go mainstream" "as money". There are however also other problems currently, mainly volatility, which is again fueled by the speculative usage of most investors, but is not related to the protocol.

Bitcoin as a money is something I wouldn't want to see and I have my reasons as opinion.

You have actually not brought up any reason why you don't want to see Bitcoin as money.

Bitcoin as money is actually the only model where its technology really makes sense. It doesn't have to be used to buy coffee or for other small amounts. But its censorship resistance and decentralization actually only makes sense if it's considered a kind of value you might transfer eventually, for example to save it for some time but then use it to buy a car or a house. Certainly censorship resistance isn't crucial for an asset a central bank wants to hold in a Fort Knox-style bunker (with one catch: if the state holding it is a sanctioned pariah then it makes sense, but do we really want this for Bitcoin, to be used by DPRK, Iran and friends?).