So far, I have been able to replace all the bitcoin I have spent. We'll see how much longer that lasts. I still think it's crazy people will take federal reserve notes for bitcoin.
Discussion
Federal reserve doesn't replace #bitcoin or #bonds or #gold .. it only creates a supply dynamic ( increasing or decreasing currency supply ) to create a (false ) sense of stability in prices .. against a basket of above-mentioned volatile assets ..
Stability of course has some use - people can plan their retirements - businesses can get into log term contracts ..etc etc ..
The incentive of using currency is it is Tax free ! .. still you should to keep 99 percent of your money in asset form . . #Bitcoin is of course the best because there is no acquisition cost and no minimum threshold .. 100 sats for a penny :-)
Planning is overrated.
For individuals yes .. but for a business , it is a necessary evil .. unless we change the quarterly earnings model and stock market .. which definitely above our pay grade :-)
A free market system addresses the stability issue by selecting the best money. That is always money that cannot be controlled by the government. That should be our goal.
Exactly..but that is at least ten years away ..2034 ..when
One bitcoin = 10 kilos of gold .. and you don't need any intermediary currency for conversion
21 million bitcoin = 210 million kilos of gold
Give or take !
A balance drawn in physical and digital world by virtue of properties ..not by foceful pegging ala central banks ..
How do you solve the problem of privacy? Bitcoin is notoriously public with financial transactions, even more than our current system
With anonymity ! .. there is a reason #Satoshi chose to stay unknown ..
I'm more concerned with security than privacy. I don't want my transactions being rewritten or censored. For those with privacy concerns, mixers can address those worries.
Big big mistake
“Those who put security over liberty deserve neither and will soon lose both”
You switched from privacy to liberty. It's a false dichotomy. There is privacy for those who want it through mixers. Meanwhile, THE DISTINCT thing, liberty, is very much intact. Everyone is perfectly free to use the system. No one can rewrite a transaction. That's the liberty. What's more important is that you cannot be censored on the bitcoin network. Free speech, my friend.
Every time I’m able to buy real money at a discount i just laugh a little inside.