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This question is probably insanely naïve, but nonetheless, I still have trouble understanding it and would like to learn.

If the USD is becoming more and more worthless and we shouldn’t care about it nor save in it, why does it necessarily even matter what #Bitcoin is priced in USD?

USD is being debased daily, BTC is only 21 million. What does it matter if it’s 60k or 300k? Is the only reason because we are legally required to do everything in USD? (e.g. taxes, salary, commerce). Meaning our assets go higher and that matters simply because we are still in the USD system?

#asknostr #grownostr

Hanshan 1y ago

Therein lies the rub....

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Discussion

ede3d957... 1y ago

As long as USD matters (unrealised) capital gains will increase and thanks to KYC, 95% of all Bitcoin will be confiscatable.

4 1y ago

Confiscatable how?

Hanshan 1y ago

By men with guns coming to your house and asking nicely.

4 1y ago

Well with KYC and people holding it as an asset will obviously have to not do anything illegal. If they were going to arrest you, they’ll do that either way whether you tell them a seed phrase or not

Hanshan 1y ago

If the point is to confiscate an asset which is threatening the existing banking system, then of course it matters whether you give them the phrase or not.

4 1y ago

But is this even realistic when people like Larry Fink are going all in on this asset? Companies and institutions are already on board

Hanshan 1y ago

Saylor and Fink etc institutional holders already know what the game is.

They're fiat maxis. As long as they're properly rewarded for getting in early, they're happy.

4 1y ago

I definitely agree with that assessment for Fink, but not convinced that’s the case for Saylor honestly