I want more than "number go up" from Bitcoin. It can't be a medium of exchange or unit of account if it never moves.
So I don't believe that a US Strategic Reserve should be set to "NEVER SELL" because that eliminates the entire PURPOSE behind Bitcoin in the first place. Or at least 2/3rds of the purpose.
What don't I understand here?
#asknostr
The only reason NGU is because Bitcoin is a Medium of Exchange . The exchange “price” determines the value. For NGU, there has to be an open market of exchange that establishes a market value of people who want bitcoin or want to get something else to consume
Ok, but shouldn't a medium of exchange be USED? That's my main concern. A strategic reserve makes sense for a Store of Value, but as a Medium of Exchange, I'd want it circulating in the economy.
Yes, that is the ideal and I believe we will get there as time passes. There are many smart people working on projects to make that easier than it is today. I also think we can encourage that by asking every time we buy something if the accept bitcoin and then pay using it even if we are hodling. When I do I just buy more bitcoin using the fiat I would have spent.
I used think that we had no MoE yet until I read a great article from nostr:npub1w69ya7xs697hk3hky3gllryz8rwverfa0ylz89chf9qnhfcskc2s64zltw a couple of months ago. Here is a summary and a link to it.
https://www.perplexity.ai/search/please-find-an-article-parker-z29rHzp2QZ2kK2XqMoraGw
It changed my way of thinking about MoE that it will be in phases and we are in the process.
That has made me consider ways to create Unit of Account adoption in phases too and if you’re interested I can share more details
Eric Yakes, the author of The 7th Property, has a non-profit organization set up and running to help with the phased transition for MoE and UoA.
I don't know if Eric is on Nostr.
