This is fucking stupidity. That's fine tho. Guess Jeff Booth is more self-importance than a freemarket. People are fucking idiots.
"If Bitcoin isn't a medium of exchange it will fail as a store of value. If you're not using it as a medium of exchange, you're relying on other people to use it as a store of value to protect your wealth" nostr:nprofile1qyfhwue69uhkcmmrv9kxsmmnwsargwpk8yq3gamnwvaz7tmpv4nkjueww468smewdahx2qpqs05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sgjmwnq
This nostr:nprofile1qyt8wumn8ghj76r99eex2mrp09skymr99ehhyecpzemhxue69uhkjmnzdauzumn0wd68ytnhd9hx2qpqmrmu3s5889zcaqcqwxejx8gtkp9rwna7fq0vqezk4x22rnpr2gms0sctx3 pod specifically starting at the 34 minute mark is in my opinion the most underrated pod if you're in the Bitcoin circular economy or aspiring to be because it explains the gravity of how important medium of exchange is.
If you're wondering why after 16 years people are still not getting Bitcoin as a store of value then you've just not come to terms with a few very important risk factors that still exist which are the survival value mindset of paycheck to paycheck citizens and how easily an effective PR campaign could roll out for the fiat kings that influence centralized terminals.
Here's why this is a very easy attack vector to exploit against Bitcoiners:
The fiat wealth gap will continue to decimate the middle and lower socioeconomic classes while continuing to crown the fiat kings as their assets gain more value from doing nothing. If you're looking at your traditional Crossing the Chasm model, fiat kings and lower socioeconomic classes are the late adopters and they are the 99%. Not only are they the biggest group by volume but have the most influence on the existing system to remain in tact. Even at the detriment to the lower classes.
As much as you are trying to help the people with Bitcoin's store of value pitch, lower classes are not able to think past basic needs and day to day mentality so much so that Bitcoiners seem to be the people least empathetic for pitching a store of value or anything that shows it's benefit in the future. Add the fact that you are talking about money, hinting at lack of technical aptitude... talking to them about a 4 year time period might as well be slapping them in the face.
They think we are arrogant and once they've heard the "Ponzi Scheme" one time they found their ego's sliver bullet forever. They're hoping Bitcoin fails. They're looking for ways to make you look stupid.
Fiat kings have every incentive in the world to keep the existing structure in place and fiat kings have so much power to influence centralized systems like payment terminals at a point of sale or online. They are in bed with the payment networks and pay the most fees to Visa, Mastercard, Stripe and Shopify.
You're out of your mind if you think fiat kings think they will change up how they do things to promote Bitcoin. I've been face to face with CEOs of the most profitable companies in the World with exorbitant amounts of cash explaining to them they should put some money into Bitcoin and explore how much they're spending on credit card fees. They are very sure I am very stupid because, to their credit, what they are doing is WINNING and even outpacing Bitcoin's growth with what they are doing.
They have deep pockets and deep influence to make sure nothing fucks with their gravy train. Not even logic. They have so much pull with so many vendors who also don't want to see Bitcoin win.
All of this is to say that this is why every vote you make with dollars in the existing system, without exaggeration, is a non linear vote for that system to continue and a non linear vote for the Bitcoin medium of exchange to never achieve critical mass.
The attack vectors most concerning now is in fact where medium of exchange is happening. It's where the centralization benefits the fiat kings. Centralization is negative to us but it's a PR campaign waiting to happen that makes them seem like the good guys to the people that need Bitcoin the most. Fiat kings ARE helping middle class and lower class get the things they want and need more than Bitcoiners right now.
On a positive note, living on a Bitcoin standard is as simple as curating for your 10-20 dependencies among Bitcoin products. Showing your friends and family you're happily and easily living on a Bitcoin standard is likely the better path to showing them it's only possible because store of value works.
After 16 years, maybe it's time to try the medium of exchange approach.
Hold their hand. Send them sats. Introduce them personally to Bitcoin founders on NOSTR like nostr:nprofile1qythwumn8ghj7enfd36x2u3wdehhxarj9emkjmn9qyxhwumn8ghj7mn0wvhxcmmvqqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gumyrnw nostr:nprofile1qy28wumn8ghj7ctvvahjuat50phjummwv5hszrnhwden5te0dehhxtnvdakz7qpqzzmxvr9sw49lhzfx236aweurt8h5tmzjw7x3gfsazlgd8j64ql0sx6f08g nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyw8wumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctvqqsg8vu4lh5gtdmwhe6qvk9lx98fzs2df4htd7uj8y5h25477vduwmq03smf2 nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq32amnwvaz7tmwdaehgu3wvf6xx7ng9e68wtcqyqtt6h8gfw08ttlspurdw8u5vlnzmgugzvtgmfyt3m4kht09lwfextf6txx nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyw8wumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctvqqsznrd3fwyguj7zyxawr0wy03u8frc57xefd0ju2eqcgfdnjjq55lscefcev .
Show them how to buy products, how simple it is and let them be blown away at the quality of the products, the quality of founders and the thoughtfulness of these companies. They're not used to being treated well and fairly. They've lost hope for good reason. They've been forgotten. You have to meet them at their mindset which is a forced short term thinking from the fiat kings.
This is how we win. You have to show them how to win in a short term time frame. That is with the medium of exchange. One product and one Bitcoin founder at a time.
Discussion
A well written response filled with intelligence and clear counterarguments. You've shown us all how it's done.
Appreciate your passion, King. Mind expounding on what is stupid?
The solution is to become a free market participant that acts in their own best intrest and the free market will adapt to you.
This shit is so funny. All these bitcoiners that understand money and history and everything and get wrapped around the axles on this. Common, repeated throughout history cycles for superior money.
Your not supposed to spend it now.... cause that is fucking stupid. Wait til people are competing for your bitcoin with discounts, rewards or straight up won't take anything else. Stop being idiots about this. It actually hurts bitcoin.
It took me from 2011 to 2016 to buy bitcoin because dumb asses we acting like this early on and giving away btc at faucets. I'm like, yeah this shit is going to be so valuable that people are giving away life changing wealth on a fucking internet spicket.
Your doing the same thing to normies when your like please, please, please take my bitcoin. Bitcoin is monetizing; the value will be 1000s of x more than it is today. You should punch someone in the face for telling you you should spend it.
In a free market bad money drives out good= Gresham's Law
Until the bad money is so bad good money drives out bad. = Thiers' Law
https://en.m.wikipedia.org/wiki/Gresham%27s_law
Bitcoin doesn't need you to be an idiot to succeed; your not that important. Let the free market do what the freemarket does. Stop being so self important dipshits.
The US took silver out of the quarters. Wha happened? Every silver quarter disappeared from circulation over night. Why would you spend silver when you can spend shit. Those 4 quarter that you saved at worth $30 in the weigh of silver alone.
Sick of hearing this nonsense.
Why are you still holding any shit at all? You should be trading all your silverless quarters (fiat) for silver quarters (sats) immediately.
I do.
Then you must be spending sats now, just like I am, since you don't have any dollars left to spend. I'm confused why you're arguing that we're not supposed to spend any sats now.
Nope pay everything with fiat rewards cc and pay off everything with paycheck
Definitely not stabbing myself in the leg by paying sats for things. What I'm tired of hearing is people say, "Why would I pay appreciating sats instead of depreciating dollars?" Which one you pay with doesn't make any difference to your stack. Whatever you spend in dollars is value you no longer have to convert from dollars to sats. Spending dollars is the exact same loss to your balance sheet as spending sats is. So stop pretending that spending sats is some self-harm ritual and instead acknowledge that it's new, early, not always possible, takes a little more effort, and its benefits don't have directly to do with your savings but with proving and showing to others that Bitcoin is money and it works.
I agree that the free market will eventually get to more people using sats as their money. But free market participants are thinking creatures, not purely instinct-driven beasts. It's not some violation of free market principles to explain why it makes sense to spend sats. People like you just have a knowledge gap or misunderstanding presently which prevents them from seeing how that activity is of benefit. 🙂
I don't care what you do. Forcing it, saying it's important, thinking you are helping in any way is all stupid.
The freemarket will take care of itself. Bitcoin is free market money. Acting in a way other than taking care of yourself is just you stabbing yourself in the leg.
People that keep advocating for people to stab themself in the leg because it is helping Bitcoin in some way is stupid and annoying to listen to over and over.