Like who still needs Bitcoin when you have the good old Dollar? Like why would anyone even think of trusting something like Bitcoin when it's totally clear that no one can control it, when i can on the other hand proudly hold a currency that some people can just go into closed door and print more of it whenever they feel like stimulating the economy, Now that's what we call real power, not an asset that gives everyone the right to hold and control their own money, That's just too boring if you ask me...
From experience, one of the reasons people trust Bitcoin is the need for change and a solution to the Central bank's 2% inflation practice, and to achieve this, the alternative has to be an asset that the government cannot control (decentralized), and have a consensus mechanism that will give the same chance to everyone. I believe this is what early supporters of BTC see when they have enthusiasm for BTC, when others are yet to understand BTC.
Second, it is not that BTC is totally out of the control of no one, as you stated, because every BTC holder has control over the BTC they have in their self custody wallet, unless it is a non-custody wallet.
Plus, the concept of Bitcoin is just too stressful, what do they mean by i have to just send money anytime i want without having anyone to thoroughly verify if it's cool to send money at that time or not, without having to beg the banks or even wait for the bank network issues to clear up first, what exactly is the fun in that and where exactly is the suffering that builds patience? come on that level of control is scary, and that's definitely not what we need in our economy today. With the dollar, all you gotta do is queue a bit, pay some charges and maybe even say some little prayers that your transactions are approved, but even if the transaction gets stuck and you have to wait for the next 24 hours or more, that's very cool because we can rest assure that it's all for our own good and the safety of our funds...
I won't consider BTC to be stressful based on what people are going through spending in a bank due to a single transaction, and or BTC wallet verification. Every BTC wallet always detects invalid addresses through the builtin checksum, but it is your responsibility to double check if the recipient wallet addresses are the same.
Again, who else figures out just how predictable Bitcoin really is? too transparent, with limited supplies, gosh that's just too boring. If feel a lot more comfortable walking up to the bank and realising the bank has just taken a little of my money to cover a few charges without my permission, cos I know they wouldn't do that if it wasn't for my own good. and it just helps to keep me humble...
For your own good. What is the good that comes out of it? Do you know millions of people whom the bank does the same thing to, and how much money the banks were able to raise through you and other customers using the same strategy?
And hope we don't also forget that the dollar has got some serious backings, I mean a lot it, what other backing can be more reassuring than the vibe, confidence and the "Just trust us bro". C'mon Bitcoin can't just compete with such a superior asset, not even in a thousand years and there's no need to even argue that.
Bitcoin was not created to compete with the dollar and other fiat currencies. It was created to complement the error in the fiat currency monetary policy and to also serve as an alternative for the people.
Second, the dollar never has serious backing, because every aspect of it was selfishly organized, and the backing it has was the same backing used to enslave the people while building a false safety illusion.
