Is BTC really the protection from political upheaval that it feels like it is??
Discussion
Yes
Yep
I wouldn’t want to hold anything else between 4th Nov - 3rd Dec 🚨
It is. An insurance policy against politician incompetence enforced by code
There will be some volatility, for sure, but in the long-run, yes.
Yes. But we still need to act in accordance to solutions! People change the world THROUGH technology.
Given the nature of capital in our society, the answers you are going to get are purely subjective. My answer is that it can be, if Bitcoin is chosen by people as a replacement for the existing fiat monetary foundation that has been dragging our civilization into the abyss for the past few centuries. Things will get worse before they get better.
Bitcoin is an abstraction of the concept of Capital, which is the way a civilization values and exchanges value for goods and services. If we can build the tools so that Bitcoin is accessible to anyone and everyone who needs it, and then build out the networks to ensure that transactions made in Bitcoin are recognized and protected at the governance level of our civilization, then it can and will supplant the existing fiat currencies and become the reserve asset that will allow us to expand out into the cosmos.
Grand vision, and also purely subjective. But that's my answer.
Yes, and so much more
Yes
IMO Bitcoin will die when fiat dies
Right now, much of the usability of Bitcoin is built on people being able to easily transfer it into fiat to pay their suppliers
Even if your supplier is Bitcoin friendly, is their supplier?
You need a whole circular economy to keep using Bitcoin in the absence of fiat conversion
(or assuming that in the event of fiat collapse much of the world returns to metal disks, you need a ready conversion mechanism between Bitcoin and metal disks)
You must live in the Western bubble. Dig outside the USA where Government has less control of the peoples brains (yes, it's true). BTW - there are hundreds of these videos and 1/2 the world population is represented in this one video. https://youtu.be/d5AvBsxRMYk?si=xJ567rdkq1nmkBeO
Tru this
…but BTC is very portable (even more so than other “hard assets”…full disclosure: I’m a fan of all self custodied hard assets)
…this in theory allows u to leave where u are for greener pastures…presumably where BTC has value
Jus one idgit’s opinion
I disagree as do many others.
Eventually, everything will be priced in Bitcoin!
Your assumptions make no sense. They can switch to a metal that almost no one accepts as payment anymore but they can't accept Bitcoin? That just doesn't make sense. Why is the assumption that metals would be what everyone defaults to in a digital world? Your thesis is that suppliers in a global economy will choose to fuck around with metal coins instead of adopting a digital currency that is already being used globally. We already did that once and ended up with fiat. People didn't have Bitcoin as an option.
You'd still need to create a circular economy with metals again anyway. I think the more likely case is that people choosing to deal with archaic metals would be the ones trying to figure out how to swap into Bitcoin to pay their suppliers, not the other way around.
Bitcoin will die when all computers on the planet are turned off.
🌍 🧑🚀 🔫👨🏻🚀
Oddly thins question made me almost immediately think of the end of Brian Eno's "Blank Frank" : "Blank Frank is the siren, he's the air-raid, he's the crater. He's on the menu, on the table, he's the knife and he's the waiter.
Because here's the thing; it seems to me that bitcoin is the protection from political upheaval, and bitcoin IS the political upheaval.
Yes. 100%. Unless #Bitcoin becomes overly centralized (nearly impossible at this point). And we will know it long before it happens.
Keep/start reading history of money books. And economic books on real/hard money, like Principles of Economics.
Lords of Finance
Fiat Food
Manias, Panics, and Crashes
Permanent Distortion
The Rise of Carry
When Money Dies
Forth Turning is here
The Lords of Easy Money
Extraordinary Popular Delusions and the Madness of Crowds
The Price of Tomorrow
The Fruits of Graft
The Psychology of Totalitarianism (more important than you think)
I would toss in:
The Bitcoin Standard
The Fiat Standard
But the last two will seem so obvious if you read all the others.
A couple off color but truly eye opening in light of current events:
Atlas Shrugged (required reading for my 5 kids)
The Creature from Jekyll Island
One Nation Under Blackmail
How can you forget: Broken Money.
Lyn summarizes much of what ALL these books give in a short 500 pages.
Political upheval has one result
Socialism: inflation
War: inflation
Welfare: inflation
NATO: inflation
Public schools: inflation of home assessments
Social security: inflation
Universal healthcare: inflation
Covid lockdowns: inflation
Reparations: inflation
Bitcoin: no inflation
No.
Bitcoin is not our Savior.
From a monetary perspective, Monero (XMR) is what we should use now, and for sure what we will want to use during political upheavels.
I remember donating Monero to the Canadian truckers a few years back. I did so happily and at peace, while others had their bank accounts frozen and their BTC accounts blacklisted. Monero does what Bitcoin does, except it's faster, cheaper, and completely private.
Anyone can see your BTC activity. Not cool.
If you, nostr:nprofile1qqstzt0wugc7sklvr8e7fcl7ukyn63ym3ns4nmf2mnk0vqnz4l9x65qpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqguwaehxw309aex2mrp0yhxumm5d4skuerpw3hhy7fwdaexwqgawaehxw309ahx7um5wghx66tyv3kxjmn89ekhjerwwvhx5uq9ezhgl, send me your BTC address, and can see what you have and where you sent it.
Send me your XMR address, and I can see nothing. (I would send you a dollar, however, so you can see how fast and smooth and cheap it is to send.)
www.getmonero.org
not more secure than a suitcase of $100 bills, or better yet, bullion.
Only if you are able and willing to relocate to another country when the need arises.
It is important to have additional passports lined up and/or know the processes of retrieving long term visit passes for other jurisdictions.
The true political power of bitcoin stems from the fact that the elites can just slip away to somewhere else and take all their wealth with them if a government stops being useful to its citizens.
As we constantly see with extradition and prosecution of non-Americans and dual citizens such as Roger Ver, this will not protect you from US law enforcement if they actually care about you. Privacy and a low profile are at least as important if not more so. This is mostly an industry of consultants selling fear and charging rich people to feel more comfortable than it is true protection from a powerful tyrannical government.
Still the best option we have. Obviously one needs to flee to jurisdictions that are not part of The Matrix.
Nothing is perfect protection, but BTC in any upheaval is likely a much better asset to hold than dollars in a bank account where your money is both fiat and not really even yours anymore if something severe happens.
It makes politics less relevant to me, an individual.
It doesn't matter as much to me how much fiat they print & who they give it to. Politics doesn't produce anything, they just steal from 1 group to pay another.
I benefit from Bitcoiners all around the world being successful at what they do best. I'll take that bet over the political elite any day of the week.
this is a great question?
btc has been centralised. expensive to transact. privacy - seems non existent with chainanalysis ...... complete change from satoshi vision. why? how? who? follow the money.
yes money go up but at what cost to btc?
it's time to seek the facts people. the current btc is another selective narrative.
don't trust - verify.
GM 🙃
Yes, it's the most resilient asset in all of history. Engineered to weather any storm.
https://primal.net/e/note1mjzwxk4a3e9m794qzgyx0p3lh4wtr8va924c68n4ltjlzvpwvkqsqrg9z6
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