So you actually need to get a number of wallets and you have a number of assets in those wallets — and it’s only once that becomes more universal does a transaction currency become possible.
–> Fallacy. The flawed economic design won t change whatever the price of bitcoin is so bitcoin as a currency is doomed.
And so, actually in fact, fluctuations in price, even as dramatic as we’ve seen, actually reflects a robust ecosystem. You want to actually be stressing systems in order to have them be robust.”
–> Confirmation bias. I think he should have a look at lesswrong he probably reads.
If we see the same thing that we saw happen — in terms of bitcoin growth and adoption — in the last five years for the next five years, that gets bitcoin mainstream and gives you many hundreds of millions people on bitcoin; even possibly close to a billion people on bitcoin
–> have we seen an explosive growth of adoption over the past 5 years? I do not think so. We have certainly seen an explosive media exposure though.