Subnostr

If Bitcoin becomes the standard, what do governments use to buy it? The point is we've stopped accepting their currency.

Also, most Bitcoin has already been mined, and governments don't hold much of it.

Daniel Wigton 1y ago

Taxes

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David Caseria 1y ago

What tax regime would be detrimental to Bitcoin and not any other asset? I can't think of one. Bitcoin in self-custody (or family-custody) significantly raises the effort necessary for the government to seize your property way beyond anything else you can hold to store value

Daniel Wigton 1y ago

I agree. I am merely answering how the government would acquire BitCoin in the absence of any other value they could provide. The answer is how they always do, armed robbery.

I like Bitcoin, it is the best we have, but the best we have isn't very good. It can't natively handle the transaction volume and fees make reconciling tier 2 technologies, like lightning, back to the main chain difficult.

So yes I, think Catholics should support sound money in general and perhaps support further Bitcoin development, but because it is currently unworkable for people's day to day I wouldn't make it a moral imperative.

Daniel Wigton 1y ago

Funny enough, this comes from my own pet passion that I think Catholics should support. Space settlement. We aren't over-populated on earth, but if we were doing our jobs as parents and care-takers of creation we would be. This we should support the only thing that reconciles our injunction to fill the earth and the fact that the earth is finite. If our Lord doesn't return first and we are faithful to his teaching for our families we need to expand into the cosmos.

Bitcoin however, cannot expand into the cosmos. I can't wait 9 years for the block chain to settle my transactions if I am a star over. It won't even work between planets. Either you tolerate long settlement times, make a new chain for every locale, force far-flung places to be on side-chains, or you make something that is trust-based and social graph aware, with time and location data baked in.

I am somewhat hopeful that Bitcoin can morph into that thing, probably by incorporating something like nostr as the trust layer. We probably have plenty of time and Bitcoin is good enough for here and now.

David Caseria 1y ago

I'm working on making Lightning usable for groups of friends and family. I hope Catholics rally around adopting Bitcoin to help their communities. It is undoubtedly the world's best money and I think it can help ordinary Catholics live a more moral life compared to the alternatives.

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