The Weekly Spooge - They Just Don't See It Yet

Something I've talked about for a few years now, is that people who don't know anything about crypto are not going to buy Bitcoin until they absolutely have to - which probably means after a financial crisis has wracked the global economy.

There are other reasons to switch to crypto - in some cases convenience, in some cases the market just forces it (like this recent Pornhub development) but these are all piecemeal. Eventually, something big will happen to stress the entire financial system and people will need an alternative on a very large scale.

The problem is that so many people in 'developed' countries don't see the inherent problems with fiat currency. We've lived with easy access to banking services all our lives and we've been the beneficiaries of a dollar-denominated world for 70 years. Those of us who are aware of the problem know it will come to an end eventually. (How soon? 5 years? 10 years? More? And how quickly will we transition when it happens? - who knows?)

But those who haven't been so lucky are seeing the potential of an alternative financial system - Venezuela, Iran, Zimbabwe, Argentina, even Hong Kong. All for different reasons but many are coming to the same conclusion.

We're doing the best we can to educate those who don't know, but some just don't see it. The signs are everywhere for those who look and ask questions. Even no-coiners who look for other fiat alternatives, like Gold Bugs or fanatics of other precious metals, see it clearly. In that respect, their intentions are aligned with crypto enthusiasts.

This has been my thesis for about 5 years. And today it looks clearer than ever. I wish that more people would adopt before it comes to a crisis point, but that's just not human nature, is it?

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