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I see constant talk about how Bitcoin is the way of the future, how it's the answer, the solution to the corrupt and mismanaged fiat system, a revolution, a way to put the power back in the hands of the people, digital capital, how it has so much utility, how it is the perfect money...

But I never

ever

see anyone talking about how we'll actually value it in a future where it has achieved the goal that everyone idolizes. Why? Why does it feel like there's no true long-term plan?

Lots of people say "don't value your Bitcoin in fiat", but they just stop there. They don't even bother with trying to extend that thought. I feel like this is a mistake to not take it further.

Imagine a future where Bitcoin has become our new primary store of value and we no longer value Bitcoin in fiat. How will we value it at that point? What will one BTC be representative of?

How will we determine this new system of value? How will we arrive at a consensus for it? Will this somehow naturally and organically grow out of the decentralized nature as the system becomes more and more widespread and adopted and used, similar to the dynamics involved in the emergence of the first currencies? Or will there need to be some form of committee formed to make a decision about how we value BTC? Will governments play a role in this?

All the talk of "0.1 BTC is all you need" and "whole coiners" is all purely based on fiat, and doesn't address anything about the long term future of Bitcoin.

I was wondering if people can tell me if any thought is actually being put towards this. I'd like to read about any progress towards this, or about thought experiments for it, or see videos or listen to podcasts that discuss it. So any kind of recommendation of reading materials or other information would be greatly welcome.

Memes and pithy hype quotes aren't going to do shit for us. If this truly is a revolution, we need plans, and we need to ask the hard questions and deal with the tough discussions and start to think about the goal we all dream of actually being realized. Memes and parroting "stack sats" are the lowest of the low hanging fruit.

#Bitcoin

Kevin Alfred Strom 1y ago

Your mistake is believing that everything has be "planned."

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Discussion

Zaelus 1y ago

I do not actually believe that. This post came from a moment of frustration, where I had just seen a bunch of meme and hype quote spam, and found it strange that most people talk about Bitcoin only in a present tense if they aren't parroting "1BTC=1BTC" or posting a meme or vague hype quote about how Bitcoin is the only logical future and how it will kill evil fiat. There's no substance in any of that. Along with this, I clearly don't understand money, according to many of the replies. I'm a newcomer to Bitcoin and Nostr and decentralized protocols and such in general, so my perspective is still trying to form, whereas everyone else apparently has known everything there is to know about all of this for at least 15 years (according to some guy who told me I was an idiot). So I knew I was going to get roasted, but it was a learning opportunity that I felt would be worth it.

I just want the weight of the potential impact to be reflected more in the discourse. I want to be able to talk about the intricate details and have thought experiments and discuss hypothesis with people for how things can *actually* happen, and things that *are* happening. I'm just sick of the memes and the hype quotes.

Kevin Alfred Strom 1y ago

Thanks for the thoughtful response. There are a lot of ultra-optimistic memes out there about BTC, and I am very skeptical of hype myself -- and would never give a blanket endorsement of all of it. But I have to add that during the last nine years of my learning journey, I have truly been amazed at the potential of Bitcoin. It really is a genius-level invention, well-aimed at the heart of the current fraudulent banking system.