Bitcoin (BTC) has established itself as a value reserve, but so far it has not been emphasized as a payment instrument.
Willie Woo, a professional investor and trader BTC starts being used daily as a means of replacementit becomes virtually impossible to operate.
“Bitcoin must become a medium of exchange (MOE) because it is not possible to operate,” he says. The exact expression used in English is worth clarifying that Bitcoin is to become «.Cannot be ungable«. Within the cryptocurrency ecosystem.Sturdy“come Rug pull (When they “removed the carpet” and left you without support or fluidity). So “Cannot be ungable“Level: It’s impossible to be a victim of a Rug pull.
Wu compares the situation in Bitcoin with the historical evolution of money. The publication highlights that gold served as a value warehouse (SOV) and average exchange (MOE) for over six,000 years.
In the 19th century, exchange functions moved to gold-backed banknotes, but in the 20th century, SOV central banks and governments were centralised, and the conversion of gold tickets was fragile. Finally, in 1971, When US President Richard Nixon finishes the gold patternthe world relied on its confidence in emitters, as explained by Cryptonotia, to adopt Fiwart’s money.
Simply put, Wu emphasizes that the mass adoption of currency created by Nakamoto Atoshi is just as reliable as gold is thousands of years of age. This is because so many people use it, so many transactions it is not easy to operate.
Nowadays, when large investors buy and sell in large quantities, BTC prices move. Rumors and false news can affect investor trust and change its value. Furthermore, centralized management by a company or government It may limit its use or affect its price. These are examples of factors that could affect today’s value, but will lose their connection to mass adoption.
It should be noted that the statement is to share the paper or extend the original white paper.
There are important points to Dorsy’s observations. BTC is not yet used as a daily currency. Meanwhile, large financial institutions such as BlackRock represent them as “digital gold.” For this reason, Dorsey emphasizes that his true value will be shown when he can quickly provide his visa and Mastercard to a private, intermediary.
Dorsey points out that in order for the BTC to meet its true potential, it needs to work on three basic pillars. Regarding scalability and speed, the executive said: “You have to compete with traditional networks. People don’t use it if they’re not fast and cheap.”
He also mentioned the need to improve privacy and security without sacrificing decentralization, and finally, to the user’s experience: “People have to read about it, but feel their usefulness.”
