You can buy pizza by spending Bitcoin, but nobody in their right minds would buy pizza paying in bitcoin. This is the conundrum of bitcoin and all the good currencies. Nobody would pay for their everyday, boring chores and even holiday trips in cryptos. Cryptos are far more valuable for this.
This is just like the crisp bank notes that you would not like to use, or the cheque book you do not want to ruin because it is from your first bank account, or back in the day when gold and metal coins were used, people used to keep the good ones that looked extra pretty and let go of the shabby ones, this is exactly what is happening to bitcoin. People are not using their cryptos for everyday transactions because they clearly do not find them appealing enough.
The brand value or the perceived importance of bitcoin is more than the actual value of it. This lead s to a big problem for the currency. The problem is that the money will remain low in circulation and it will change lesser hands and its economy will remain slow and sluggish despite its amazing branding and genius idea.
The makers and the critics of the currency think that paying for Starbucks using cryptos can do a lot of benefit to the industry. They feel that by demystifying the currency and making it look and appear as normal age-old fiat currencies will help it.
While that may change the transactions and the usage of the currency, it will not add anything intrinsic to the brand value of the word bitcoin. Bitcoin will remain hip only if and when it is deemed as that perfect, cute little crazy investment you made despite your family and friends told you no, and despite the fact that people thought you could lose everything in it. This currency led to an increase in the thing that people could do over the internet, it changed the silk road, it changed the internet affairs, it changed what Tinder could do and it allowed for whole new revolutions to come up over time in all industries that the world knows.
Bitcoin is precious right now, it is important, it is hot, when it becomes ordinary by buying ordinary things and by meaning ordinary money that is digitally stored, it will lose its beauty and it will leave no funny taste in the splendors heads anymore. The thrill will be lost on us. And that is a very sad picture.