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Nostr is the Church of Bitcoin. And as a bitcoin unbeliever, I'd like to probe the understandings and beliefs of those who are really into bitcoin.

These false dichotomy questions are meant to spur discussion, of course I don't think anyone can simply choose one over the other, but I wonder what people are thinking.

Which of the following is true:

1. If government went away, the people would be free of the oppression of taxes, all interactions would be voluntary, and anarcho-capitalism can finally bring in a utopia.

2. if government went away, the infrastructure would erode (roads, the internet, power distribution, sewage, etc) and people would be living in fear of violent gangs that would have bloody and terrible battles for power.

Which of the following is true:

1. Bitcoin will grow to the point of being the world currency, at which point government won't have any reliable way to collect taxes and government will shrink away.

2. Bitcoin won't get much larger than it already is today because if it gets much bigger governments will shut it down, seeing it as an existential threat.

I could ask more but I think you get the point.

My belief is that small governments are good and necessary things, and governments will not allow themselves to lose revenue in any significant amount, so bitcoin can't grow much larger unless it embraces KYC (which the Church of Bitcoin clearly doesn't). And therefore IMHO there is no bitcoin endgame other than where we currently are. I believe we are living in an abnormal period of laxity.

I"m about to run off and I won't see the replies to this for hours, so don't expect me to participate in the discussion right away.

BTW: I am libertarian, I believe in free markets, I like power in the hands of the people, I hate the fact that governments are necessary, and I love free speech. But also I think I'm pragmatic and realistic.

cloud fodder 10mo ago

Interesting, yes I think you're missing the point(s), I pretty much don't have a belief in any of your listed options..

Here's the simpler version: Governments dont like cash. Now cash is mostly gone (america is the last country to still have loosely regulated cash). The savvy government will not take away bitcoin because they can track it better than they can track cash, and yet there are still ways to use it with better privacy and knowledge of how it works. It works way better for long distance transactions than cash does.

That's it, why does it matter? Because it's *also a store of value, so people that believe in savings, can save AND transact with it, without having to convert in and out to STONKS. There are millions of retirees, playing the STONK market RN, and playing the UNREAL-ESTATE rn because they have no other choice. Oh, but they do, the choice is bitcoin.

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Discussion

Mike Dilger ☑️ 10mo ago

Many countries still use cash, but less and less so. NZ has cash, but half the supermarket checkouts don't take it (you have to get in the right line).

Bitcoin is tracked on the blockchain, but not the associations between who owns which addresses. That is why I think KYC rules are going to become more onerous.

I totally agree it is great for long distance transactions.

I also agree it is a great long-term store of value (among many others). I think real estate and commodities have their place.