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For now, Bitcoin narrative expands as a value reserve.
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According to Woo, the time will come when Bitcoin is used daily for payments.
Bitcoin (BTC) has established itself as a value reserve, but so far it has not been highlighted as a means of payment.
Willy Woo, a professional investor and trader, states that when BTC begins to be used daily as a means of exchangeit will become practically impossible to manipulate.
«Bitcoin needs to become an exchange medium (MOE) to be impossible to manipulate,» he says. It is worth clarifying that the exact expression used in English is that Bitcoin will be «unruggable«. Within the cryptocurrency ecosystem, «rugged«Comes from rug pull (When they «take out the carpet» and leave you without support or liquidity). So «unruggable”Literally means: impossible to be the victim of a rug pull.
Woo compares Bitcoin’s situation with the historical evolution of money. In its publication, it emphasizes that gold worked as a value warehouse (SOV) and average exchange (MOE) for more than 6,000 years.
In the nineteenth century, the exchange function moved to paper money backed by gold, while in the twentieth century the Sov centralized banks and governments, and the convertibility of gold tickets was fragile. Finally, in 1971, When US President Richard Nixon ended the gold patternthe world adopted Fíat money, dependent on confidence in the emitters, as Cryptonoticia explained.
To put it in simple terms, Woo emphasizes that the mass adoption of the currency created by Satoshi Nakamoto will be as reliable as gold was millennia: irresistible against manipulations. This is because it will be used by so many people and there will be so many transactions that it will not be possible to manipulate it easily.
Currently, the price of BTC moves when large investors buy or sell large quantities; Rumors or false news can affect investor confidence and alter their value. In addition, centralized control by companies or governments could restrict its use or influence its price. These are some examples of factors that could influence their value today, but would lose relevance with mass adoption.
It should be noted that the statement is to expand a thesis shared Or original Whitepaper ”.
Dorsy’s observation has a key point: BTC is not yet used as a daily currency. Meanwhile, large financial institutions, such as Blackrock, represent it as «digital gold.» For this reason, Dorsy highlights that his true value will be shown when he can replace Visa and Mastercard, offering fast, private and intermediaries.
DORSEY points out that for BTC to fulfill its true potential it is necessary to work in three fundamental pillars. On scalability and speed, the Executive said: «It must compete with traditional networks. If it is not fast and cheap, people will not use it.»
He also mentioned the need to improve privacy and security, without sacrificing decentralization, and, finally, he referred to the user’s experience: «People must feel their usefulness, not just read about it.»