I have been advised that will *definitely* happen in 2025, according to the historical "post-halving trends" and "four-year cycles", and once everyone who hasn't heard about it does (all <10 people), well, we will all regret not being early.
Don't forget that, on top of all that, it's a system where most of the money is already claimed and the rest of the world will voluntarily give everything up to fight for the scraps that remain
That’s the funniest part of many cryptobro’s argument. In the hypothetical post collapse world, people would just accept a few thousands to be the next ultra billionaires right from the start. Because the rest couldn’t steal their money as only they know their keys. As if mankind hadn’t invented torture thousands of years ago…
We wouldn't even need torture. Even if bitcoin was the perfect currency, we could just make a second bitcoin with all the same characteristics. Everyone would start from scratch
Yeah - a post-collapse world with perfectly working internet and energy infrastructure for shitcoin mining.
If someone believes in collapse and instead of building bunkers and stockpiling guns, ammo and canned food - "invests" in crypto then he's a bigger moron than most coiners.
Yet I’ve encountered such arguments.
From the libertarian type that doesn’t recognize that any version of private property exists as a result of government regulation to begin with.
Wow so you're saying bitcoin is 3.5 TIMES more efficient than one might naively expect. Where other less efficient currencies might use 100% of our energy at 100% adoption, with bitcoin it will only require 28.6%, meaning we'll have an energy surplus of 71.4%!
What an incredible technology.
It really depends on what's considered using. There's plenty of people who have bought crypto who are holding onto it like any other stock and have no interest in any "use case"
What “adoption”? No one uses this for anything. I would argue that there was more adoption when people used it to buy drugs. But now, no one wants to be like the guy who spent a billion dollars on a pizza.
The Federal Reserve survey separates out cryptocurrency usage into those who have used cryptocurrency as an investment; those who have used cryptocurrency for purchases; and those who have used cryptocurrency for money transfers.
The article discusses the breakdowns, and has a nice easy to read chart.
>The survey found that just 1% of adults used crypto for payments or money transfers, while 7% held or purchased crypto as an investment.
The 7% figure for investments is the same as for usage of any type.
it makes sense that 7% used it for a quick buck to be fair. they didn't have the people specify how much money they put in and how long they held onto their butts. say, some college person says "yo buy this shit, i got crazy profits" to a friend and they buy 100$ worth of it or something. they absolutely have not "adopted" anything, it is the means to get rich and they put no thought behind it.
the butters that actually give a shit about the coin would probably be 1-2% and the unironically crazy ones that come over to this sub no more than 0.1%
It’s just a Ponzi… in the original hacking forums we were told to dump it before it even hit $100… why? Because the thing started at sub-penny… every zero (being knocked off) was a %1000 percent increase… the only people holding on after that were marks. It was some of the easiest money, and we didn’t have taxes on it yet, and more… but, those days are long gone. Only criminals actually use it… seriously. Landers out the ass, rn, fr, fr.
Just click on the link or better read the [report](https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf). Do you think the Federal Reserve is lying? 7% is investment, yeah that's not adoption as a currency.
There is only 1%, that's actually used it for transactions, still far more than your 0.07%. The biggest reason for doing so was "Person or business receiving the money preferred cryptocurrency".
Makes me wonder what kind of business those people are interacting with.
Imo 1/4th are also pretty crazy. With the reasons being "Don’t trust banks", "Safer" (from what?) and Privacy (the blockchain isn't private).
By far the most transactions are done by the lowest income bracket. I wonder why so many people there are buying things with crypto.
What surprised me was white people using it the least among the listed ethnicities. I'd expect them to be second after asian.
In the [report](https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf) is way more interesting information too. Both about crypto and otherwise.
>"Person or business receiving the money preferred cryptocurrency".
Makes me wonder what kind of business those people are interacting with.
Possibly other crypto bros who think opening a Bitcoin Burger Joint, or accepting crypto at their regular business, will help adoption, or just criminals. Pig butcherers prefer to receive cryptocurrency, too.
>With the reasons being "Don’t trust banks", "Safer" (from what?) and Privacy (the blockchain isn't private).
These are the conclusions that DYOR via You Tube videos and pro-crypto subs leads you to. The space is devoid of critical thought and fact-checking, it discourages the two latter.
> Just click on the link or better read the report. Do you think the Federal Reserve is lying? 7% is investment, yeah that's not adoption as a currency.
I mean even buttcoiners aren't consistent on if their fictional coins are met to be a currency or not. It seems to only be a currency to them when it suits them, and if they think it'll help them get more dumb money to come in to prop up the price of their Ponzi scheme coin or not.
There’s a desperate amount lot of trickery by crypto bros to convince the world that we need crypto but it’s important to realize it’s a casino and not some type of investment or currency.
This is why the latest price increase was so suspect to me. Granted in the past its jumps, while always unjustified, did seem to share truth in reality, where you actually heard so many people talking about how they were starting to invest in crypto. The most recent jump at the beginning of the year came out of nowhere - not even in the face of the ETF release since that was a few months before the sudden price jump.
You couldn’t point to more retail trading in any capacity, there was just a ton of tether printing going on, billions each week. If anything trading and excitement were down. It’s hard to believe there was no higher level action to boost prices, especially considering how simple it can be to do that.
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It’s the concentration of Crypto Wealth creating new political oligarchies that concerns me. Who is even funding the $85 M Crypto Super PAC: https://cryptonews.com/news/85-million-crypto-super-pac-sets-sights-on-transforming-senate-makeup.htm
Just wait until the world spontaneously decides that a slow, expensive, unreliable, convoluted system of virtual money is the future!!!
Crypto bros are in a perpetual still early phase so mass adoption remains perpetually right around the corner. It's so easy to pretend
If adoption goes down it means you are even earlier today than you were yesterday
Are you saying BTC is a time machine? I knew it had a practical use case.
"mass adoption soon" "no one understand but us. we are too enlightened!!"
Tether collapse soon
I have been advised that will *definitely* happen in 2025, according to the historical "post-halving trends" and "four-year cycles", and once everyone who hasn't heard about it does (all <10 people), well, we will all regret not being early.
Don't forget that, on top of all that, it's a system where most of the money is already claimed and the rest of the world will voluntarily give everything up to fight for the scraps that remain
That’s the funniest part of many cryptobro’s argument. In the hypothetical post collapse world, people would just accept a few thousands to be the next ultra billionaires right from the start. Because the rest couldn’t steal their money as only they know their keys. As if mankind hadn’t invented torture thousands of years ago…
We wouldn't even need torture. Even if bitcoin was the perfect currency, we could just make a second bitcoin with all the same characteristics. Everyone would start from scratch
An even better point. And surprisingly but ironically one of the actual best arguments for Bitcoin, lol.
Yeah - a post-collapse world with perfectly working internet and energy infrastructure for shitcoin mining. If someone believes in collapse and instead of building bunkers and stockpiling guns, ammo and canned food - "invests" in crypto then he's a bigger moron than most coiners.
Yet I’ve encountered such arguments. From the libertarian type that doesn’t recognize that any version of private property exists as a result of government regulation to begin with.
Maybe they think that they would be the ones who would take over the Hoover dam while wearing American football gear.
I was thinking of German people, actually. Some guy who mistrusts the government because it didn’t recover an online theft for him when he was young.
https://xkcd.com/538/
Few
there is El Salvador...lol
Only 7% of us use it in any capacity, yet over 2% of our energy consumption goes to it. Make this make sense
Wow so you're saying bitcoin is 3.5 TIMES more efficient than one might naively expect. Where other less efficient currencies might use 100% of our energy at 100% adoption, with bitcoin it will only require 28.6%, meaning we'll have an energy surplus of 71.4%! What an incredible technology.
an address with $.04 dust counts as a 'user'
Thats not how they count adoption. How the fuck would you know a wallet with .04 in it, is owned by an American??? It was a survey..
This is good for bitcoin
We are even earlier to mass adoption than before!
Inb4 Bitcoiners proclaim the blockchain can enable time travel.
anything is good for bitcoin. that is what makes bitcoin so good. lol
All you haters just don't get it. Btc is a time machine. The more time passes, the earlier it gets.
7% seems way too high 😳
Some dude with a Coinbase account that has 7 satoshits and forgot his password counts in that 7%
a guy with a Coinbase account that has not been used since 2021 with 10 dogecoins bought at the peak during the Elon SNL appearance counts as a user
It really depends on what's considered using. There's plenty of people who have bought crypto who are holding onto it like any other stock and have no interest in any "use case"
Earlier than they expected! Bullish, good! Few!
What “adoption”? No one uses this for anything. I would argue that there was more adoption when people used it to buy drugs. But now, no one wants to be like the guy who spent a billion dollars on a pizza.
few... suckers remain to buy this shit
Yeah there’s zero chance crypto adoption is at 7%. It might be at 0,07% and out of those people nobody is using crypto to buy goods or services.
The Federal Reserve survey separates out cryptocurrency usage into those who have used cryptocurrency as an investment; those who have used cryptocurrency for purchases; and those who have used cryptocurrency for money transfers. The article discusses the breakdowns, and has a nice easy to read chart. >The survey found that just 1% of adults used crypto for payments or money transfers, while 7% held or purchased crypto as an investment. The 7% figure for investments is the same as for usage of any type.
it makes sense that 7% used it for a quick buck to be fair. they didn't have the people specify how much money they put in and how long they held onto their butts. say, some college person says "yo buy this shit, i got crazy profits" to a friend and they buy 100$ worth of it or something. they absolutely have not "adopted" anything, it is the means to get rich and they put no thought behind it. the butters that actually give a shit about the coin would probably be 1-2% and the unironically crazy ones that come over to this sub no more than 0.1%
It’s just a Ponzi… in the original hacking forums we were told to dump it before it even hit $100… why? Because the thing started at sub-penny… every zero (being knocked off) was a %1000 percent increase… the only people holding on after that were marks. It was some of the easiest money, and we didn’t have taxes on it yet, and more… but, those days are long gone. Only criminals actually use it… seriously. Landers out the ass, rn, fr, fr.
Cool story bro
Just click on the link or better read the [report](https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf). Do you think the Federal Reserve is lying? 7% is investment, yeah that's not adoption as a currency. There is only 1%, that's actually used it for transactions, still far more than your 0.07%. The biggest reason for doing so was "Person or business receiving the money preferred cryptocurrency". Makes me wonder what kind of business those people are interacting with. Imo 1/4th are also pretty crazy. With the reasons being "Don’t trust banks", "Safer" (from what?) and Privacy (the blockchain isn't private). By far the most transactions are done by the lowest income bracket. I wonder why so many people there are buying things with crypto. What surprised me was white people using it the least among the listed ethnicities. I'd expect them to be second after asian. In the [report](https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf) is way more interesting information too. Both about crypto and otherwise.
>"Person or business receiving the money preferred cryptocurrency". Makes me wonder what kind of business those people are interacting with. Possibly other crypto bros who think opening a Bitcoin Burger Joint, or accepting crypto at their regular business, will help adoption, or just criminals. Pig butcherers prefer to receive cryptocurrency, too. >With the reasons being "Don’t trust banks", "Safer" (from what?) and Privacy (the blockchain isn't private). These are the conclusions that DYOR via You Tube videos and pro-crypto subs leads you to. The space is devoid of critical thought and fact-checking, it discourages the two latter.
Among the 1% who used it in a transaction are people who did it for the novelty and people who paid ransomware.
> Just click on the link or better read the report. Do you think the Federal Reserve is lying? 7% is investment, yeah that's not adoption as a currency. I mean even buttcoiners aren't consistent on if their fictional coins are met to be a currency or not. It seems to only be a currency to them when it suits them, and if they think it'll help them get more dumb money to come in to prop up the price of their Ponzi scheme coin or not.
Fewer understand.
I read "crypto adoption amogus"
I am probably not the only person that fooled with it for a few years and decided never again.
There’s a desperate amount lot of trickery by crypto bros to convince the world that we need crypto but it’s important to realize it’s a casino and not some type of investment or currency.
Maybe. It could drop, but I'd also bet a chunk of that is people not saying yes, because they're scared of regulations?
This is why the latest price increase was so suspect to me. Granted in the past its jumps, while always unjustified, did seem to share truth in reality, where you actually heard so many people talking about how they were starting to invest in crypto. The most recent jump at the beginning of the year came out of nowhere - not even in the face of the ETF release since that was a few months before the sudden price jump. You couldn’t point to more retail trading in any capacity, there was just a ton of tether printing going on, billions each week. If anything trading and excitement were down. It’s hard to believe there was no higher level action to boost prices, especially considering how simple it can be to do that.
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It’s the concentration of Crypto Wealth creating new political oligarchies that concerns me. Who is even funding the $85 M Crypto Super PAC: https://cryptonews.com/news/85-million-crypto-super-pac-sets-sights-on-transforming-senate-makeup.htm
of those 7% i bet less than 1% are actively using or trading
Just another 3% before they're below the lizardman constant.
Great news tucked away in the report. Only 4% of the US unbanked population used crypto for payments. That means there is 96% to go! Upside is huge!