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@anon
stacking since: #223678
0 sats \ 0 replies \ @anon 5h \ on: Introducing Take My Sats — a bitcoin-only ecommerce platform bitcoin
I just want to buy things with bitcoin like I can with dollars.
Mississippi doesn't surprise me in the least. We're all impoverished and get arrested for scratching our asses.
The Vilnius airport is some 25km from the Belarusian border. The balloons fly very slowly and are very visible. Should be trivial to take them down in the first few kms once they enter Lithuania, no?
But we must still mostly use fiat for everyday MoE, which leaves the fiat operators still with effective monopoly over everyday MoE.
The fiat system in its current format is unsustainable.
They can accept Bitcoin as a speculative commodity, taxed and tracked and traced, and increasingly custodied by them for a fee
Taxed and traced maybe under certain circumstances. But that doesn't mean it has to be custodied by 'them'. And as long as they don't have the keys... they can't censor the spending or movement of Bitcoin.
because if Bitcoin is used as a MoE directly undermines their monopoly monetary power and their ability to control all commerce and trade
You know what also undermines their monopoly monetary power? Borrowing ~ 7% of GDP per year and having to pay the interest. The math doesn't work when you can't raise taxes or cut spending (because the voters would vote you out).
As a reserve asset it does partially erode their monopoly
Dude eroding their monopoly means their bonds trend towards junk status and Bitcoin is AAA. They cannot sell debt the interest owed is too high, with too little demand when the bond is Junk.
where fiat can only survive if its parasitic wealth extraction from participants is minimized.
Well tell that to people in Zimbabwe. Or Mexico. Or Lebanon. Or the United States... people don't "have" to use fiat.
Either way Bitcoin has succeeded already to an incredible degree
I think Bitcoin is just getting started.
Have lately been thinking about how fiat apologists frequently assert Bitcoin does not produce anything- they are comparing to conventional investments like stocks or bonds and saying Bitcoin has no 'yield'.
Wallstreet sure is obsessed with yield.
People buy real estate which is a... great 'investment.' And it doesn't have yield either but boy does it go up each year.
So with Bitcoin as money you can hold your liquid capital and have it available for whenever any need or opportunity arises, free of any need to entrust it to third parties who may or may not honour their promises to grow its value.
Imo Bitcoin is 'better money' but it is not perfect. Better and extremely interesting however if one gets really pedantic... reducing trust to "zero" is extremely difficult.
I would say the 'system' and network is vastly more trustworthy.
Secondly, as money Bitcoin potentially provides an essential public service...
Bitcoin is imo way more 'risk off' than Wall Street gives it credit for.
Bitcoins provision of this independent and neutral monetary system is of huge potential value and while nation states have sought to obstruct bitcoins use as a MoE
I think Bitcoin is more than a MoE... I think MoE exchange sells it short because it implies Bitcoin competes with dollars and other fiats. I think it does but it... doesn't. It offers and creates trust where fiat can't and I think that is way, way more valuable than simple MoE.
It would be like buying an ice cream cone with a treasury bond... or government bond. That's not normally... what someone would do although it is theoretically possible. The Bond's value is based on trust and risk-off-ness and that is Bitcoin the network's inherent strength.
My guess as to what Bitcoin becomes is the global risk-off reserve asset, the same way "we" look at US treasury bonds or AAA government bonds today. That way if an institution or organization or trust or individual doesn't know what else to buy... they will buy Bitcoin because of its qualities.
That means Bitcoin becomes the neutral, global reserve asset which I believe is its likely future.
You see!
This is why the CCP will win. You give up too easily! You got to dig deeper if you want gold. It’s heavier than other rocks dumb f$ck
Thanks for your comment.
The 'fiat operators' are their own worst enemy. I believe that many Europeans (even within the EU) plus many Asians (Japanese and Koreans) will eventually adopt Bitcoin because it is neutral and unconfiscatable. The Americans can't 'turn it off' and it is generally-speaking trivial to generate a seed phrase that no government can guess or confiscate.
I could choose the 'traditional financial path' but... I don't. It's not fast money it's better money and 'better property' that attracted me to Bitcoin in the first place.
What I cannot for the life of me understand is the defense of fiat... particularly by the 'financial experts'. The American national debt/deficit is totally unsustainable and the financial press loves to hate Bitcoin which... honestly I cannot understand.
Eventually the huge debts in Western countries (especially the US) will come due and the shortcomings of fiat will be painfully obvious. All the financial press does in the US is push denial "we're the best" the Chinese are "no competition for us" "we have tariffs" etc... all to make a quick buck or help investors feel "everything is fine". It's not.
Bitcoin will be there for people when they are ready and I think a shift is near-inevitable.
I've been buying Bitcoin for years but I don't match any of these stereotypes. I don't gamble, I'm not after 'fast money' and I'm not even male. I don't 'trade' either.
Nor am I interested in 'cryptocurrencies'... I am only interested in Bitcoin.
I have zero debt and am 'financially stable' and make well over "6 figures" (in US Dollars) and I have the 401k etc.
But Bitcoin is important to me because I see it as truth and a "check" on the traditional financial system which I believe is unsustainable and manipulated. Bitcoin is more transparent, more stable overall, and I believe something that will be widely used by our civilization in the decades to come.
There is a tremendous amount of change coming for the global financial system (hidden by the American media) as institutions lose confidence in the United States. They will look for an alternative reserve asset and Bitcoin is a great candidate.