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As regards to your point on bitcoin numbers cap - 21 million - all such features are the features of network .. other being no KYC .. digital signature.. proof of work . These features make this network as the supreme unbreakable digital network ..

For example 21 million number is emergent rule over existence of the network .. no one can implement such rules without the underlying network of nodes ..

FreeYoda 10mo ago

Nice stuff, thanks.

I have a limited view on money.

I my mind Gold is money and now Bitcoin.

Gold has a natural monetary policy (scarcity and the energy needed to find/retrieve it) Bitcoins monetary policy is hard coded but the coinbase reducing slowly to zero every halving.

Fiat is debt and since not attached to something it is more imaginairing debt.., the monetary policy is changing all the time. So all in all the garbage all Bitcoiners recognize.

I have to think about the asset aspect, I still have a hard time to make a clear distinction if I should call #Bitcoin money or asset or why you have a hard time to say #Bitcoin can be both in a hybrid way ?

A part of me doesn't care how we name it, but in interaction with others it is nice to align on definitions to prevent unneeded friction.

I gonna need some more time chewing on this.

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Discussion

Satosha 10mo ago

That is a very real dilemma .. and it is not new - we all have been struggling with this right from the day gold network was established.. around five thousands year back in India .

In India , selling gold is considered bad omen ! We don't sell Gold unless it is a family crisis . Gold is passed from one generation to next. No one ever thinks of using gold to buy coffee :-)

The monetary policy with in bitcoin - e.g. bitcoin toknomoics ( fixed at 2100 Trillion #Sats ) - is to allow external people acquire a tiny part of bitcoin network .. not to use it as a means to exchange for goods and services ..

For goods and services , we have currency ( fiat or money) .. and as you rightly said , fiat is considered garbage .. you want to get rid of fiat as soon as possible and turn it into hard assets .. cumulating money is considered a sin ..I mean literally :-) aka Greed ..

Never sell your bitcoin :-) and if that is true - it is NOT money ! It is an imperishable asset ..

FreeYoda 10mo ago

Thanks, that thinking I can follow and makes sense.

I think you described the hardest money and the fact it is pushed out by lesser forms of money since those will be spend first.

This all aligns with what I concluded myself and as being 'a bit strange' makes me feel comfortable 😌

Just a pitty we can't have a coffee and some hours to discuss, I knew/hoped this was going to be interesting !

Satosha 10mo ago

May be it is a cultural difference, but when people use the word "money" for #bitcoin , it feels to me they intend to use it for perty transactions .. unlike gold .. even though Satoshi said it is a p2p cash system , but turns out it is gold in digital form .. like Columbus set out the sails in search of India and landed in America :-)