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nicodemus 4 months ago
Yeah… see, I’ve heard all of this before. And it continues to be, at best, dubious speculation. Did anyone *really* believe that bitcoin would become a unit of account via monetary velocity overnight? Did anyone really believe nation states would abdicate their power to control the flow of wealth? Of course nation states are deciding alternatives (like gold)! They already own that monopoly! Nevermind the susceptibility of gold to violence - which they also own a monopoly on. Listen - for those that need to hear it: Bitcoin has proven itself as a Astor of Value. Thats step 1. It’s slowly building up more and more momentum as a Method of Exchange. Thats step 2. Nostr is proof of this. The scale is still really small. Once a critical mass of exchange is happening with sats - by the people (!!), not corps who answer to nation states (!!) - *then* we start the slow process of bitcoin becoming a Unit of Account. The authorities may *never* accept bitcoin. This does NOT matter. Ask people in Nigeria whether it matters. Look at the primitive numbers we see on cross-border remittances in bitcoin. If bitcoin grows as an economy mostly in the hands of plebs, then this means it depends on distribution. That distribution is going to happen slowly. In fact, you should *prefer* it to happen slowly and more organically. (But spend your sats wisely - not on stupid influencer shit). Face it - peaceful revolutions don’t happen overnight nor do they happen with approval from the existing authority. It’s gonna get way, WAY messier. If you make enough value to improve your life along the way, by all means - TAKE IT. And distribute the sats. But don’t buy into this crap that bitcoin is destined to fail because it faces opposition and it’s growing slowly - thats what it is supposed to be doing. Who gives a shit what the nations do? Survive, outlast, let freedom money work for you in every way it can.
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Implausible Deniability 4 months ago
My post brings up the trajectory not use case of BTC. It may shine some light on why Jack Dorsey also said without P2p bitcoin will fail. What i want people to be aware of is two things that even now after reading my post people wont recognize: 1.) Its clear that people will accept CBDCs and total monetary capture in the real commodity with only a promise that Wall Street will pump their bags. This gives government unlimited power over people who claim to want freedom money. Its regulatory capture of BTC eventually if not already because governments still have leverage to shut down big businesses and supply chains. 2.) BTC from this point on in the current trajectory appears to be defined by the products Wall Street provide and already the banks are rehypotheticating Btc based on this, the same happenes to Gold until China and Russia said ok enough is enough. It wont be a million dollars like even the great Samson Mow suggests in this environment and if no one is spending BTC in the real economy its destined to eventually become less important as time goes on by design.
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