He doesn't see people being willing, en masse, to convert the currency they receive (in a paycheck, for example)
I think he meant in the short term, didnt he? In the long term, this is obviously wrong. For two reasons. 1) You dont get a craze like we are witnessing when people dont like the technology. At some point, you have to stop making things complicated: people want it, they are not afraid of it, they are damn excited about it. It's the new gold rush. 2) Cryptocurrencies, once mature, will offer a significant increase in banking quality, innovation and competition. Your current banking system and VISA are 19th-century in comparison of what's coming.
In short, we have: people-love-it + old-system. I call the result of that equation obvious on the long term.
I look forward to that glorious day when Bitcoin, now mature, has crushed the global financial system and established a new era of whale dominance. I'm just not sure that I have enough years left in me to wait until the impossible future arrives...
I think he meant in the short term, didnt he? In the long term, this is obviously wrong. For two reasons. 1) You dont get a craze like we are witnessing when people dont like the technology. At some point, you have to stop making things complicated: people want it, they are not afraid of it, they are damn excited about it. It's the new gold rush. 2) Cryptocurrencies, once mature, will offer a significant increase in banking quality, innovation and competition. Your current banking system and VISA are 19th-century in comparison of what's coming.
In short, we have: people-love-it + old-system. I call the result of that equation obvious on the long term.