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My opinion is that your opinion will be true in some cases.

The degree to which it is true will depend on what kind of bitcoin economy/infrastructure exists when hyper-bitcoinization happens.

If bitcoin can be spent, there will be no need to sell for fiat.

But if you expect people to save their whole stack forever, when they’ve acquired enough net worth to use some to improve quality of life, that’s just naive.

Bitcoin Tom⚡️🧡 2y ago

Great points, I do not want folk to hodl forever. I believe that will harm the progress of hyper-bitcoinization. I believe that sats need to circulate and continuously between hand for commodities for Bitcoin to be successful.

My main issue is that there are so many large accounts on here and Twitter that seem to only care of the fiat price point. Though I understand that is main on ramp - I am not seeing proper development of a market place that utilizes #Bitcoin as the ONLY currency. I would love to help that vision for Bitcoin but at the moment the vibe in the Bitcoin space is to become fiat wealthy, not lay the foundations for a circular Bitcoin ecosystem.

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Discussion

burns 2y ago

Bitcoin is inextricably tied to price performance.

As a result, many bitcoiners came from finance and economics, so of course a large part of the content will be price-focused. Especially in a world where we’re all scrambling to escape currency devaluation.

However, there are many people and companies building out the infrastructure necessary to achieve the bitcoin economy.

If the accounts you follow only talk about price, you should expand who you’re following because there is much more to this movement and that is not the focus on my feed.