Replying to Avatar Marty Bent

Jerome Powell: “People use #Bitcoin as a speculative asset. It’s just like gold, only it’s digital.”

Powell and company can keep trotting out this trope but the data is clear and becomes more overwhelming every day; there are millions of people around the world who use bitcoin as their primary savings technology and send bitcoin payments to purchase things. MILLIONS.

Nostr’s circular bitcoin economy is a direct affront to the notion that bitcoin is purely speculative.

https://m.primal.net/MnhQ.mov

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BitLo 1y ago

He’s only partially right. The primary reason it isn’t used more from a payment standpoint in the US is because of the onerous tax treatment imo. Remove that barrier and it competes with the dollar.

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