As you step into the gym, the sheer sight of weights piled high can be overwhelming. As you observe seasoned gym enthusiasts effortlessly maneuvering through their hundreds of kilos at the leg press, a sense of your own smallness settles in, amplifying that initial feeling of being engulfed.
Grasping the barbell in your hands, you realize that even at a lower weight, it carries a substantial heft. However, your journey in the gym doesn't culminate after that first day. Instead, it marks the genesis. Witnessing your muscles expand and your strength incrementally burgeon validates every ounce of exertion.
The principle of progressive overload should be the compass for any newcomer. The seemingly insurmountable weights that seasoned gym-goers manage can also become attainable for you, with time. The concept of "progressive overload" will be your guiding light toward achieving your aspirations.
Bitcoin has been a presence for around 14 years, give or take, contingent on the perspective of its historical milestones—whether it's the inception of the first mined block, the publication of the whitepaper, or its listing on exchanges. It took BTC over a decade from its genesis to be recognized as an exchangeable currency, as seen in El Salvador.
The foresight of Bitcoin's integration was depicted by The Simpsons long ago, but the duration till its realization was never specified. For the majority, mass adoption entails a wider array of methods for exchanging fiat into Bitcoin and vice versa. However, influential voices in the crypto sphere argue that the approval of a Bitcoin spot ETF in the US will usher in mass adoption for BTC on a grand scale.
I fervently oppose this perspective, as I believe that's not the type of mass adoption we should strive for. If entities like BlackRock engage in trading spot Bitcoin ETFs, it signifies increased dominance of the establishment over Bitcoin. Analyzing the establishment's recent approach to crypto reveals a focus beyond taxing; it's apparent that they seek control over the market, its participants, and a substantial share of circulating coins.
In the US, regulatory attempts to stifle numerous crypto on and off-ramps have largely succeeded, with the exception of established platforms like Coinbase that are within their control. Binance has also recently come under intense regulatory scrutiny, and this might just be the tip of the iceberg.
Yet, don't be deceived; true mass adoption of Bitcoin and crypto is underway as we speak. Take Turkey, for instance—despite the nation's restrictive stance on crypto, the plummeting value of the LIRA has compelled several merchants to embrace Bitcoin as an alternative to their national currency. A video clip on Twitter highlighted numerous stores accepting Bitcoin in a specific region, offering a glimpse of the trend.
Countries such as Turkey, Venezuela, and El Salvador exemplify the dire need for Bitcoin and crypto. Consequently, genuine mass adoption will emanate from such nations, and it won't be limited to the utilization of crypto as mere currency. Hive, for instance, hosts content creators from developing nations who rely on HIVE earnings as their livelihood. Despite criticism, these users play a pivotal role in populating the blockchain.
Expecting a decentralized blockchain's users to conform while attributing blame unidirectionally signifies a misunderstanding of the essence of decentralized blockchains. Given the prevailing chaos worldwide, necessity will elevate crypto from the realm of fanciful novelty to the realm of vital survival tools.
Inflation's persistence disproportionately burdens the lower and middle classes worldwide, and these demographics will gravitate to crypto out of necessity. The transition won't be instantaneous. Similar to fitness goals, the trajectory for mass crypto adoption demands a principle of progressive overload.
Could BTC eventually reach a million-dollar valuation? Perhaps, but it's unlikely to materialize within the current cycle, and conceivably not even in the subsequent one. Ultimately, we'll get there—I wholeheartedly believe so. What are your thoughts?
Thanks for your attention,