Bitcoin Is Digital Gold — And That's Its Ceiling
Mike Smith
Spicy Level
The Take
Bitcoin will never be a payment system. It will never be programmable money. It's digital gold — a store of value for people who don't trust governments. That's valuable. It's also a ceiling.
+Why I'm Right
Transaction speed and cost make BTC unusable for daily payments
Layer 2 solutions haven't achieved mainstream adoption
Every 'Bitcoin as currency' experiment has failed or pivoted
Gold has a $13T market cap — digital gold at that cap is still enormous upside
?The Counter-Argument
“Bitcoin maximalists believe Lightning Network and future protocol improvements will enable payment use cases. And even as 'just' digital gold, the store-of-value thesis implies massive price appreciation from current levels.”
Agree? Disagree? Tell me.
@MikeSmithShow on X. I respond to good arguments.
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