What kind of structure does the #bitcoin community see in the world, if things play out in any of the many proposed ways? Honest question. Help me understand what the world looks like after that kind of transition.
PSA I may have more questions for anyone who answers.
#plebchain #nostr #asknostr #pleb
Bitcoin instantiates the foundation of a new system of Law with, simply, “thou can’t steal”. When theft is removed from economic calculation, production becomes more efficient. More production, more wealth. More wealth, more prosperity. More prosperity, more peace.
Who's producing though? Not every individual fills that role now, which is something that has nothing to do with economic reasons. Is the wealth still accumulating on a Pareto distribution? This is the most plausible scenario. If so, who prospers exactly? A different hyper-minority, or the same one s? What really makes that a different outcome?
These are the questions I'm wrestling with. A medium of exchange inherits value from the confidence placed in it. If all of the same circumstances exist, even if the specific problems are different... I just don't see any reason to change from one broken system to another broken one.
Just thinking out loud.
I don’t really understand the question. What do you mean with “kind of structure”?
Currently, the world looks and works a certain way to people: work, school, etc. Does the basic structure that people operate inside of look different? If so, does the outlook compensate for that?
Many people will be left behind on this project, the same as they have been every other time. It doesn't matter if Bitcoin is different than everything that has come before. The thought that "all" will benefit is shortsighted. (I mean no insult by that.) So, I'm wondering if anyone can articulate a vision of what the world looks like beyond "21 million cap, store of value, etc, etc."
I hope that was helpful. I don't know a clearer way to ask the question.
Correctly priced goods and services speed advancements in what should create positive change the most, including in energy, which leads to a post-scarcity society and possibly removes the need for money 🤙
I'm hung up on the following thoughts:
Manipulated prices aren't a result of market participants. They're a result of arbitrary decision making. That decision making doesn't go away just because someone says it does. It simply changes hands.
There are two kinds of transitions, all at once or progressively. As it stands, we are in a progressive phase where businesses and people who value their time and energy adopt the bitcoin standard. The abrupt way would be something a kin to el Salvador but they aren't looking too bad; how ever you feel about their dictator doesn't matter because it's safe and prosperous ( from the outside looking in at least).
I really do picture small businesses and owners of small businesses and individuals adopting a Bitcoin standard because they're not going to want to pay the high fees and taxes. It's the only thing that makes sense to anyone that wants to get ahead and beat the current rate of inflation, if you believe the current CPI Which is probably double what they've told us.
It's only gonna remain gradual, until people start catching on, and then it's gonna be like a landslide of people that just adopt it. Kind of like when social media took off and myspace took off and YouTube and Instagram and Facebook and you know, all these other platforms ; TikTok. That kind of exponential growth in something that involves money, I don't think we've ever seen it at the scale at which it'll go.
The point of sales systems are already out and can be introduced into any of the current point sale systems and businesses. So it wouldn't be like changing from cash to putting in, you know, credit card readers and all these other complex things. When switching from analog to digital, all of the things that are digital that are in place can just be swapped for the bitcoin systems that are being built now. So it wouldn't be as drastic as changing from cash to putting in credit card readers and all these other complex digital systems like we did in the past. We would just integrate the PoS that we have for lighting and keep scaling it out.
So, the systems that we live inside of - employment, education, domestic life, etc - look similar but are operating on the basis of a different medium of exchange?
This is what I'm trying to get more clarity about. I don't expect any concrete answers. That's asking for the impossible. I'm just probing to see what thoughts are out there already.
There are some fundamental truths that apply to projects like bitcoin. Given the current landscape, those fundamental truths don't seem to be getting looked at. Maybe they are though. Maybe I've missed it and just need to ask.
Thank you for the thoughtful response.
Yes, we are operating on a different denomination of value. Once you can flip your denominator to btc (which isn't easy at first), your outlook on value will shift. You can start incentivizing commerce by discounting goods and services because of the volatility bitcoin provides. You can say, 10% off if you pay in Bitcoin for example.
It's hard to shift the current paradigm because be have been in the fiat denominated lifestyle since birth. People are comfortable in it. Until they aren't! That's why you look for alternatives. Bitcoin is a good alternative because it's capped in supply saving your time and energy in that undiluted unit of account gives you the paradigm shift needed to operate differently.
That's why having a bitcoin community helps. When people are willing to exchange in that unit of account it becomes easier.
I've long held the belief that we need something new. Life circumstances prevented me from getting involved in this particular movement near its inception - which, it is what it is. I'm certainly not seeking out "ease of transition." Just trying to see the difference.
I think this calls for more contemplation on my part.
I would encourage you find a group of vitcoiners in your community and pay for goods and services with lightning. You ha e to use it and touch it in order to experience how easy it is.
Also, the nostr meetups are really cool. I wouldn't go to the "bitcoin" meetups. They are dick measuring contests.
I plan to stick with it - if only in a minor way at first. It's still too early for me to decide. I'm of the opinion that the best place to "play" is where the clearest "rules" are - while keeping a watchful eye on the horizon. That's why I'm here to begin with actually.
Already been informally invited to a Bitcoin meetup. 🤣
Continue at your own pace, half the fun is trying to figure out the potential, where it falls short, where it can improve, and why it's so important to begin with. It's a complicated sequence of questions, application, testing things out. Stay away from the 'newer better stronger faster' garbage.
There's something to Bitcoin on so many different levels to so many people with different lifestyles.
To me it's almost like a global distrbuted language of value transfer, without the ability of one entity to change that.
... However thinking of it in terms of language, I've heard Bip39 seed phrases can be difficult to read in other languages... But that's way out of my league.
Honestly nobody knows exactly what the world will look like, you will have to study the past and present and use your best forecasting to try to see what's coming just like I had to and many others.
That's exactly why I'm asking the questions. History is pointing to something already - as far as I can tell. Maybe I'm wrong though. So, I ask questions.
If it's looking to history, it's either a slow reverse of trying to back a failing paper currency in something hard and scarce, and potentially returning sovereignty to some, but also leaving many behind with a failing fiat currency or a claim to an underlying 'asset' until redempion,
But again looking to history this also plays out as an attempt at co-option of the network by current power structures, nation states and the like, which I think at its core is robust enough to not be fully captured protocol level, but between pool centralizations, all these paper ETFs issues on top not trading 24/7. There's likely a real risk of attempting to cut off the ramps without going through some sort of KYC. Plus risk of transaction censorship by large regulated miners or pools.
If things get bad enough I could see a 6102 type legislation being attempted.
Privacy is still an issue unless your willing to learn how to protect yourself. Hopefully peer to peer payments and self custody remain strong versus all this investment strategy trusted third party bullshit. Corralling people into honey pots.
But really it's anyone's guess. I've already rambled too much just to confuse myself. 🤷
Either way I've got a couple Bitaxes on the way 😂
