Surprising to see someone like nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpzdmhxue69uhhyetvv9ukzcnvv5hx7un8qy28wumn8ghj7un9d3shjtnyv9kh2uewd9hst62ahh representing the other side of this.
It feels like we should be shouting from the mountains that stable coins are the real Trojan horse to be concerned about.
What am I missing?
I had a good conversation with Eric Yates yesterday that made me feel a little bit more at ease with this topic.
The key points are something like we're giving it a little too much credit in its ability to censor transactions, it gives everyone in the world or choice and ability to decide what money they use and in that kind of proves the people will adopt the harder money. Bitcoin thesis, and maybe most definitively it is a fully reserved bank that is a direct attack on fractional Reserve banking
I have to disagree because of the ability to control the banks and point of sale systems. We are at .1% adoption don’t forget and all currencies are failing so with that goes the power.
Do we need more samples to see that the state abuses power than we’ve already seen? Starting anywhere else than from assuming this will happen is what I disagree with as the correct first assumption.
The only credible concern for Bitcoin adoption for the masses is aliens and something tyrannical. All the state has to do is put digital dollars in everyone’s account, implement bank regulations that inhibit on ramps or off ramps for Bitcoin, promote that the debt is gone because of a strong digital dollar, and then start a social campaign that Bitcoiners are the bad guys.
We just witnessed how easy it is to brainwash the masses and they already don’t like Bitcoin.
All valid points.
Both sides are speculative and I tend to lean The way you're describing based off of pragmatism since it's better to be prepared than surprised and based off of History because I agree the evidence for bad things is long.
That said, I don't think it's an inevitability
Yakes
Better to have a fully reserved private bank run by Bitcoiners who are funneling profits into Bitcoin and open source tech developement than a Fed/govt cbdc...
Agreed. It’s a race to get there and why the circular economy thriving now on NOSTR is so important.
