Growing up on American Sitcoms and HBO Drama series I believe I somewhat understand American values. The entire culture revolves around more of Individualistic values than anything else. They are also extremely vary of Government. And this is a good thing as they hold their governments accountable which Indians clearly do not. I believe this reason alone will see mass adoption of Bitcoin in the US. Americans wouldn’t want their governments to control the value of their wealth.

A lot of wealthy Americans are also realising the government printing dollars is devaluing their existing wealth. Soon enough not so wealthy Americans would start taking cue from their wealthy counterparts. Not having Bitcoin is going in your portfolio is going to be risky. Think of it like insuring your portfolio.

Does this mean every blockchain network will be mass adopted? I don’t think so. If you think about it only Bitcoin network is truly decentralised (less so with more miners moving to the US). From whatever little I understand, most of the other networks are moving to Proof of Stake instead of Proof of Work. In Proof of stake, the network is controlled by early adopters or the wealthy as you need to stake your tokens on the network enabling transactions to be more secure. There is a possibility of hostile takeover. I’m sure these organisations would have certain checks and balances but it could happen. This makes Bitcoin which works on Proof of Work a more decentralised network where anyone could spin up a mining farm. There are arguments that it consumes more energy and solving complex mathematical problems is extremely expensive endeavour. I haven’t found any legit convincing argument against it yet.

I’m convinced that the world will increasingly move towards One World, One Currency, One Government model to combat the issues we will be facing in coming decades. Like Climate Change. Like Droughts. Like breathable air. Countries, rich and poor, will be forced to work together and decentralised currency is one step closer to making it happen.

The reason why I started this post discussing about Americans mass adopting Bitcoin is, despite the last couple of years, the US is still the world leader. Every other country will be following the footsteps of the US and it is going to be the first country among rich nations to accept the currency, reluctantly.

This isn’t investing advice.