What if we’re all wrong about Bitcoin?
Discussion
Too late, it already got me a house a wedding a truck and much more still to come...
Left you short of commas tho…
WE WON'T BE ....
Then I will rather be wrong chasing freedom
About which aspect of this multifaceted piece of software?
About which part? I feel pretty good about its hardness. And it’s proof of work. It’s not been hacked or pirated either. I like the rules are consistent across all hodlers and users.
That it’ll suffer a unique fate in monetary history and lose to inferior money? It’ll be regulated to obscurity? Outlawing AI would literally be easier for governments to enforce.
What id we’re all right about bitcoin?⚡️🤌🏼
I’d rather be wrong chasing the dream of freedom rather than accepting the chains of slavery. Stack sats and stay humble.
If we’re wrong we’ll be stuck in a broken system, but at least most Bitcoiners will know the beast.
If we’re right….the possibilities are endless.
If Bitcoin falls, the value of jurisdictional arbitrage will rise. But moving your broken money across borders will be a pain!
We’re past that point of being wrong. Satoshi fixed money. 2009 onwards it’s been right. What we have to fix is Big Govt. That is the problem. Leave people to live in prosperity with sound money. Onwards 🔥
Attack vectors are the worry, good article here Jake :
Still being proud that we’re part of the revolution.🫡
Which bit?
I’ll be happy if it means we can still use chairs.
Chairs are underrated 😂
Bitcoiners want them banned.
I don't have a Casio watch, I failed to read the Bitcoin standard, Steak is not my favourite meat, I have Airpods, I don't have a cold card, I have a black t-shirt, I have lots of chairs and I am INTP.
I score 2/8 on the Bitcoin Maxi scale 🥹
For some reason I score 4 but I’m much more of a chair maxi.
If we are wrong about Bitcoin, the new economic model that the elites are creating will not be worth living under.
The idea that emerged with Bitcoi separating money from the state, along with its scarcity, portability, and privacy will never die. It will always live on among us; this is the true path. Bitcoin is just the tool. Pandora's box has been opened.
We are. Get out while you still can!
Depends I suppose on what your assumptions are about Bitcoin and what you actually expected it to bring about.
For example, Bitcoin can still succeed in being a good store of value, but in doing so, can be used to back all of these stablecoin cbdc style currencies and create artificial demand for the dollar, and that conflicts with the idea that Bitcoin is going to bring down the banks and usher in a new monetary paradigm and lead to more financial freedom.
It all depends on what it is that you expect it to bring about.
Some people only care about making more fiat as a further example, and as long as number go up, they Bitcoin hasn't failed.
*then
Wrong how?
"what if stablecoins are more successful than bitcoin?" is basically a question this Ark Invest brainstorm asked
the Prof Art Laffer, economist for Nixon and Reagan admins, told the CEO of Tether:
"Paulo, if you knew the dollar were as good as gold, the value of gold would fall very sharply. Okay? Because the dollar is far more flexible, far more divisible, far better transactions medium than is gold carrying a little sack of dust on your back and all that. You know, the same thing is true here is if you have Bitcoin and you have the stable currency, if in fact uh you could make [Tether] as valuable, if not more valuable than than Bitcoin, that might well have an impact on the value of
Bitcoin in in the market as well....then you would find Bitcoin values coming down relative to stable coins just the same way that when Reagan came in and made the dollar stable had the appreciation in the US dollar versus all the others there the price of gold went down by what a factor of 80% 70% during that period way down."
it appears the Prof Laffer is understanding "Stable" in terms of stable to prices and not pegged to a dollar.
I was slightly confused at the end of this interview of Prof Laffer's understanding of markets as he seemed to think prices could be "stable" at all. I thought that was a core tenet of economics is that it's a dynamic marketplace.
Bitcoin is the only "Stable" coin that i know of in that it is stable in regards to its total supply.
I also think that the solution they are looking for has already been invented by Michael Saylor and $STRC product. That product is basically using a market-based approach to arbitrage/calculate inflation between the dollar and bitcoin and the appetite of the market for either.
55:00
I think increasing stablecoin demand and use is bullish for bitcoin, and sends it to the next 10x
More users. More demand. Scarcity intact. Price goes up
We are all wrong about #Bitcoin.
I am concerned that many people on here are not bullish enough on #Bitcoin.
Bring on 1984 forever so
We are wrong. It is going higher than we think.
Right?! 🤣😂
We’d at least have a lot of friends to start over again with.
We must choose what ships we go down with
This is a good one