1/5) Some detractors argue that bitcoin adoption & subsequent monetization won't continue because there is little interest in _borrowing_ bitcoins.
2/5) Imo this is the Nirvana Fallacy at work: "the informal fallacy of comparing actual things with unrealistic, idealized alternatives".
3/5) Here's why: saying that there's not enough Bitcoin borrowing compared to saving, is basically arguing that bitcoin's price (and therefore, its adoption!) is going up too fast and therefore won't continue.
4/5) One counter to this Nirvana Fallacy:
"What is your realistic baseline? If Bitcoin price appreciation were to happen more slowly, and with more borrowing vs saving, would you be more optimistic about its future adoption?"
"What is your realistic baseline? If Bitcoin price appreciation were to happen more slowly, and with more borrowing vs saving, would you be more optimistic about its future adoption?"
5/5) Another question for these detractors: "If Bitcoin's features were the same but we lived in a world with realistic fiat interest rates (≥ real inflation), would you be more optimistic about its future given the relatively higher interest in borrowing Bitcoin vs fiat?"
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