So wait, bitcoin IS money. I’ve always seen it as an investment. When I ‘invest’ in bitcoin im actually saving ‘money’. WTF? 🤦‍♂️

Have I got that right? Must have missed something. And yes I have read the white paper.

#bitcoin #asknostr

Reply to this note

Please Login to reply.

Discussion

shhh don’t tell them

#Bitcoin was born and meant to be digital money.

Money is whatever you use as a “proxy” to exchange goods. Thus, everything can be money. Different type of money have different characteristics, like scarcity, durability and salability.

As of today, Bitcoin is the best form of money ever invented.

When you see it as an “investment” you are probably (just hypothetically) looking at it as “I want more dollars/euros/whatever”. When Bitcoin is money, then yes, the bitcoin you stack becomes saving.

Why saving in Bitcoin and not in dollars?

Because dollars are programmed to lose their value over time, thus making it a bad saving mean. Bitcoin, on the other hand, is programmed to keep its value over time (actually increasing your purchasing power), making it the best saving technology ever invented.

Does it make sense? Does it answer to your question?

Indeed. This is why cigarettes often become money in prison. It's just a valuable, scarce good that is used to exchange for other goods.

100% correct!

Understood

🙏🙏🙏I think I beginning to understand. I think I’m still in disbelief.

I suggest you to read (if you already haven’t) “The Bitcoin Standard” or “Broken Moneyxx” that show how and why money develops.

Also, articles from nostr:npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc are always super helpful:

https://dergigi.com/2022/12/02/bitcoin-is-the-rediscovery-of-money/

https://dergigi.com/2022/10/02/bitcoin-is-digital-scarcity/

Thanks. I’ve read a few things but not TBS. I’m listening to broken money.

Continue study, deep dive in to the rabbit hole :)

Where can you get free Bitcoin 😁😜

No free bitcoins around. Provide value to others, they will arrive!

Sent that article by Gigi to some friends the other day. They didn't read it.

Gigi is one of my favorite authors. I love his way of writing and explaining things!

This is also why real crypto veterans don't say "buying and selling," they say things like "saving" as you said here, or "trading" or "exchanging" or "scaling positions"

Except for unstable networks like Solana and the meme coins that run on those networks - those might be more like speculative assets you buy and sell instead of actual currency

Another viewpoint is currency exchange. Exchanging your current currency that looses value into one that maintains or grows in value.

Thanks