Also, if you want a bitcoin standard you need the government on board……there are millions of people who do not have the wherewithal to think on their own. Unfortunately, they need to be told what is legitimate and what is worth something and they look towards their government, experts, and financial planners. I don’t know about you, but in all these years I’ve only been able to convince 6 people to hold bitcoin and one of them I sleep with and the others have been a result of me sleeping with the first. Mu hope is that once they do buy it, they eventually self custody, and then make some gains which maybe leads them to learn more and to further expand their understanding of what they hold.
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Upon further reflection, I’d ad if you want it accelerated then you need them. Eventually, we will get there, but it’d be nice to have it before I die 😂.
Bingo. The Bitcoin standard is not 8 billion self-custody lighting nodes and cashu mints. I wish it was, but it's not, and that's not our fault.
Take banks being able to hold Bitcoin as an example. Most people would love a Bitcoin savings account at their traditional bank. Is it captured Bitcoin? Yes. Is it a Bitcoin standard? Still yes.
If you think Bitcoin fails because of fractional reserve or scaling limits or mining regulations or bitcoin loans etc. etc. You haven't thought it all the way through. Dishonest people fail. Honest people win. That's the game Bitcoin presents and that's why it continues to win.
They can FAFO if they want, but allowing it into the financial system like this is a huge positive development.
Why don't you vote for better money?
I disagree with you here. Governments don’t need to legitimize Bitcoin. Bitcoin is legit because it works and they can’t stop it. Governments are not the ones that legitimized a gold or silver standard. Reality is what does these things. Government adapts to the world and tries to find the best way to take advantage of them. This is what history shows us.
