We lack sympathy for Hodlers upset about the recent drops in Bitcoin’s worth. Bitcoin and Crypto in general were never meant to be another fun investment for the upper middle class, but an alternative currency that everyone could benefit from.
In 2010, when two large Papa John’s pizzas were bought for 10,000 BTC, the world saw that Bitcoin had a practical use. It could be used in exactly the same way as fiat and therefore could replace the oppressive fiat system. Excitement for adoption grew and people began to dream of a bank-free future. But the original ideas behind Bitcoin have been grossly perverted, snatched from greedy individuals seeking obscene wealth. These people have the same mentality as bankers, the very people Crypto enthusiasts wanted to escape.
It is delusional to expect Bitcoin’s worth to increase exponentially when it is not being used. Without adoption, it is completely worthless. Laszlo Hanyecz, know as ‘Bitcoin Pizza Guy’ is credited as being one of the most influential people in Bitcoin’s history. Without Laszlo, Bitcoin would likely still be worth pennies. And Bitcoin could revert back to a minuscule value in the future if people continue to hodlr rather than spend.
Treating Bitcoin like an investment will lead to its downfall. We need adoption now more than ever.