I would actually argue this is still misunderstanding where the big problem is. Medium of exchange is still too early. I mean if you can then do it, I live on a bitcoin standard already, but the MoE phase is not what will fix the $100 Trillion+ capital mispricing problem.
@note1h8vwenm6qatm2vcv6zrdh8qd6zkfq8syqhfk8rx267spuc05c2ns75ajxm
No, I think you misunderstood what I’m trying to say here. I’m not in the bcasher’s camp where they want to provide instant and free payments for every person on earth, including the babies and the mortally ill. What I’m sounding the alarm for is the problem that Jack is addressing - Bitcoin becoming irrelevant by falling in the same category as Gold. Have you seen this video by nostr:nprofile1qqs8fl79rnpsz5x00xmvkvtd8g2u7ve2k2dr3lkfadyy4v24r4k3s4spremhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet59uq3zamnwvaz7tmwdaehgu3wwa5kuef03j9hac? It’s pretty enlightening and I can’t recommend it enough: https://youtu.be/enxoR9v3oEg
MOE era doesn't start until producers of high quality goods/services REFUSE fiat. No amount of complaining/pushing for us to "use" bitcoin will change this. As long as I can, I will spend trash (fiat), hoard cash (bitcoin).
MOE era won’t start overnight. It’s a slow grind like it was with the SoV “era”. It may not start in your lifetime unless more people opt out of the system instead of keep kicking the can and prolonging the suffering. I’m not suggesting you to stop spending fiat. I spend my whole fiat salary for Bitcoin at the moment I receive it and live off the bitcoin. My spending habits improved since I did this, I’m much more mindful of how I spend the sats and my stack has grown much more than when I used to DCA with only a portion of my wage. You won’t get it until you try it, but this is not virtue signalling, it’s pretty rational when you see the effects on yourself.
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I’ll actually have a video of my own soon to explain where I think people are getting this wrong. Mechanic and I have chatted about it on the Roundtable. But Bitcoin won’t end up like gold because its scaling properties are the exact opposite as gold. Doesn’t mean there isn’t a trade off, but it won’t be anything like gold, imo.
I hope you’re right and I’m wrong, but from the current state of things I’m looking at, it doesn’t look that way.
I’ll explain and you let me know if I’ve elaborated on elements you hadn’t considered yet.
My assessment, which I’ve gone out of my way to ensure is sober, because I’ve been on both sides of this multiple times and have no jaded view of this. I fully recognize and accept the limitations and trade offs where they will likely have to be made.
Looking forward to it.
