Why it’s so necessary for #bitcoin to become money that you can use to buy anything to get your basic needs met 💪
“Who would’ve thought the CRA would start freezing people’s bank accounts again? I thought the Freedom Convoy drama was long over.
New 2 minute read.
https://amendt.substack.com/p/helping-your-neighbour
Discussion
I am just getting this understanding so I hope I can write my thoughts down so they make sense. :)
Money has three classic functions:
1. Store of value
2. Medium of exchange
3. Unit of account
My thesis is Billions of people will never buy Bitcoin purely as an investment vehicle. (1) A “Bitcoin circular economy” (earn in BTC → spend in BTC → earn again) is the flywheel that drives network effects to planetary scale. If people have to go into fiat to get something the fly wheel slows down and the on/off ramps get to apply brakes to the GDP of the country.
Completely agree! Earning btc and spending creates the flywheel we need 💪🍊⚡️