/biz/ - Business & Finance

Ever notice how Bitcoin maxis never talk about the day-to-day use of using Bitcoin as a means of exchange (aka as a currency) and never go in depth about the technology behind it?
They mostly speak of it as a concept, because it seems logical and even good to have a currency not controlled by politicians and that is immune to inflation (as soon as Bitcoin hits its cap of 21M coins). They even claim that their coin is private, despite knowing that every single transaction is shown on a transparent blockchain.
I have my doubts there are real people even transacting Bitcoin, even those who claim to do so most likely use the lightning network or something of that sort. The only people transacting in Bitcoin are probably the ones that are looking for a means of storing value and not much else, hodling it until God knows when.
Bitcoin will eventually fade away, but all the damage that it would imply could be catastrophic to other currencies. I'm sure regulators probably like Bitcoin, but they have to keep a facade. It's the perfect controlled opposition to their currency: with KYC, they can know everything that happens in a transaction. People can try and avoid regulators as much as they can, but the pseudonymous nature of Bitcoin makes it impossible, they're just delaying it.