The Endgame of Bitcoin

[Zaguru12]

Let's say all countries eventually accept Bitcoin as a legal means of global transaction, the question is, is a limited supply sufficient? I still see Bitcoin as an alternative and would never adopt it as a means of transaction like fiat currency. El Salvador also implemented Bitcoin as a legal means of transaction in their country, but recently they have begun to change their stance. Bitcoin can indeed be a symbol of freedom, but with regulations in each country, it seems difficult to implement globally.

Bitcoin as an alternative means doesn’t mean it cannot be used as payment method, it can still be used as an alternative payment method too and this the sole purpose of bitcoin. It is not a must that it will be used by all for every transaction but can be used for alternative transactions like; people use it for cross border transactions where fiat system is actually more of an hassle of changing from one fiat currency to another. Then there is the fiat which can then be used for local transactions. This is what I know about bitcoin been used as alternative for payment method.

As for the limited supply yes it’s certainly not widely available or spread but with the growing value of bitcoin as the price increases, Satoshi it’s sub unit is also going to increase in value too much means more supply. In fact I feel like bitcoin hoarding which I also do is actually part of the reason why we will have bitcoin bee limited

[BlackBoss_]

Bitcoin as an alternative means doesn’t mean it cannot be used as payment method, it can still be used as an alternative payment method too and this the sole purpose of bitcoin. It is not a must that it will be used by all for every transaction but can be used for alternative transactions like; people use it for cross border transactions where fiat system is actually more of an hassle of changing from one fiat currency to another. Then there is the fiat which can then be used for local transactions. This is what I know about bitcoin been used as alternative for payment method.

There are very big differences in expectation of Bitcoin as an alternative to fiat currencies and a replacement to fiat currencies. Bitcoin maximalists as well as market makers usually choose right time like in a bull market and even hottest time around all time high to make such very high and unrealistic anticipation on the role of Bitcoin in the future to buy time for their distribution phase.

I am bullish on future of Bitcoin and I believe in its future but I think completely replace fiat currencies is very unrealistic hope.

As for the limited supply yes it’s certainly not widely available or spread but with the growing value of bitcoin as the price increases, Satoshi it’s sub unit is also going to increase in value too much means more supply. In fact I feel like bitcoin hoarding which I also do is actually part of the reason why we will have bitcoin bee limited

It's not new and unlike something just discovered recently because the Bitcoin total supply and its supply release schedule was programmed transparently in Bitcoin protocol, written publicly in Bitcoin wiki. People even already knew about it, usually feel more excited when they read such news that repeatedly released at the right time to hype market participants.

How is the 21M bitcoin cap defined and enforced?

[MarjorieZimmermanGinger]

Yeah, global adoption sounds good, but it’s not that simple. Bitcoin will probably stay more as an alternative, and people already use it in different ways, even on platforms like bitcoinbetting.

It certainly won't be that simple, because what we're seeing now is Bitcoin achieving global adoption from an investment perspective. This makes more sense because adoption is progressing so rapidly, as evidenced by the ongoing process. Making Bitcoin an alternative for transactions is already happening, as some people have used Bitcoin as legal tender, and even El Salvador itself has done so, even though they have now freed its citizens.

I'm only highlighting global adoption in a general sense, such as the use of fiat currencies worldwide when used with a specific currency. Is that possible with Bitcoin when its supply is limited and cannot be increased? This could potentially lead to much higher price pressures as governments continue to increase their control over limited supply, creating even greater chaos.