@BenCodie. You can disagree, however, much of the holders of bitcoin are presently holding it as a speculative investment that they can sell later. But you can also argue that some of the holders might use bitcoin for gambling, moneylaundering or for payments, however much of the usage is as a speculative investment.
This is caused by the monetary policy of limited supply that you have mentioned. You might say this is superior but this is also not perfect. The limited supply causes price volatility, coin hoarding and because of hoarding, this might cause a centralization pressure on bitcoin.
Also, what is this efficiency are you talking about in the codebase? I am talking about scaling. How much transactions per block can bitcoin do?
You're saying that holders are mostly
1. Holding to eventually sell
2. For immoral purposes
What about those using it as a very long term savings account, only taking what they need to top up their crypto debit card or cash to live, until bitcoin or another blockchain is more widely available?
This category of people are growing year on year.
Also, what is this efficiency are you talking about in the codebase? I am talking about scaling. How much transactions per block can bitcoin do?
Scaling is an efficiency. I was saying to look at the changes from 2016 until 2023. The codebase has improved many aspects of Bitcoin, and I am sure that in the future, new additions will make Bitcoin increasingly scalable. Yes, the block size can not be changed...however transaction data can reduce, and mechanisms to take pressure off of the main chain can be introduced.
In anycase, my original argument is for us to be humble and not behave as if bitcoin is perfect. There are many arrogant people in the community who are like this and some of them were exposed as larpers. It is very headshaking because many people follow them.
I am talking about people similar to this Pomp.
Believing in Bitcoin should not be comparable to this guy who has shilled a centralized service and ended up screwing himself and everyone who followed him. If Pomp just stuck to BTC, that meme shouldn't exist. It's a shame he ruined his name with that...however the meme it isn't really relevant anyway...no one here is promoting something like Blockfi...and just because he did that, it doesn't mean that his conviction on BTC is rendered wrong.