How does he think it establishes the base value that facilitates the development of competing payment layers?
I thought this dude was clever? nostr:note132xm0d8vm6jd62x66htppe2rgfllhan3skkrs25u0upx4mcwypjq6mh0y7
Discussion
I think he means it as more from a prospective of if people just think it’s digital gold, then people will just hoard it and not use it as currency everyday. That’s what Bitcoin is. It’s p2p electronic cash. That’s what it is first and foremost. If people don’t use it and accept it everyday as payment, it’s just another store of value like gold.
I agree that is likely his argument. But what I an saying is as more value finds its way INTO the Bitcoin network the more methods for that value to be moved around will emerge. People will have choices as to those methods. Some will be like traditional banks like his own product #Cashapp. Some will retain the users sovereignty. And interoperability will also arise.