Bitcoin is a strange thing. It evolves a person's thinking:
* Scam
* Ponzi
* Novelty
* Speculation
* Investment
* Savings
* Escape Valve
* Necessity
Where are you at?
Yesterday marked 54 years since President Nixon temporarily suspended the gold standard from the dollar.
Sure am glad it was temporary, because money printing sure would be terrible.
It's very interesting that Blackrock was just a few years ago lampooning bitcoin. Now the owner of the biggest and most successful bitcoin ETF to date, Blackrock is now positing that bitcoin can potentially eat into the US dollar's reserve status, due to the US's massive debt in their annual report released today.
The #Bitcoin network is core to the identity and value proposition of #bitcoin (the money). These two properties of value are necessarily correlated and intertwined to make #bitcoin more valuable than any other digital asset.
The money is valuable because of the network. The network is valuable because of the money. It's why it can't be copied/duplicated/replaced with another.
To separate bitcoin (the money) from Bitcoin (the network) is nearly analogous to attempt to separate hydrogen from oxygen and still retain water. Water is valuable _because_ of the binding of two parts hydrogen to one part oxygen. (Obviously, hydrogen and oxygen are valuable in their own right, so the analogy breaks down for the more pedantic among us.)
GM, it's block 884732.
What's it called when I no longer think of "buying bitcoin", but now think "selling dollars"? Is this some weird form of autism?
(Thanks @jack mallers for educating about "getting on zero" with @npub1ex7m...vyt9)