An asset underpinning a broken monetary system provides a very different view of #bitcoin than an open protocol emerging in layers.
This is what most people still pricing bitcoin in pieces of paper miss.
Discussion
I see your perspective and I also can't pay my bills with magic Internet money just yet.
Lots of people are suffering and looking for a solution. If Bitcoin does not increase in purchasing power against pieces of paper it's not a solution.
It doesnât need to increase in purchasing power AGAINST anything. The adoption is what unfolds it as a medium not the fiat gains. A lot of people came for the NgU but once the properties of bitcoin are understood itâs irrelevant. I can provide you a service and request a payment in sats that has no bearing to its âconversionâ into fiat. Everyoneâs numbers are different just like everyone charges different amounts for similar services. Just because you canât pay for existing bills in bitcoin doesnât mean those services couldnât be provided by someone who allows bitcoin as medium of exchange. Itâs just in the very early stages.
The future reality you are envisioning sounds nice.
I'll look forward to that happening one day.
Today a vast majority of what I need to live costs fiat.
You can pay for some bills using bitrefill or the bitcoin co.
Yes there are many work arounds, but the suppliers of a vast majority of goods and services are requesting fiat (for now).
That transition could happen faster than many anticipate.
I mean, that is fiat that youâd be giving them. Or are you referring to cash?
Yep but youâre still paying in fiat. Itâs not a p2p transaction.
Theyâre still counting worthless paper while weâre stacking sats, building layers of freedom, and watching fiat crumble #Bitcoin unstoppable
Thanks for your consistent reminders of this Jeff đ thatâs the only way to transform the fiat mindset we have known up until now
Why does my steak in 2021 and in 2025 still cost roughly the same amount of bitcoin though? Iâm measuring btc in goods and services and the deflationary collapse in bitcoin terms isnât revealing itself.
Is it because bitcoin is sniffing out the deflationary tech/ai/robotic collapse and the existing monetary system is just delayed in that realization so prices havenât collapsed yet?
Something is breaking my brain and I canât figure it out! đŤ
That is exactly it Matt. Lag time + greed and fear. As a small indicator of what youâre talking about - many PE funds in real estate have halted redemptions because if the assets were marked to market -insolvency would reign. While the market âwaitsâ for more liquidityâŚ.ie - money printing. Trying to measure it in shorter time horizons, against an increasingly chaotic insolvent credit based system is what keeps us stuck.
In time, it will be clear.
đĄthanks Jeff
This is absolutely understand.
There's a difference between measuring bitcoin in fiat and measuring fiat in bitcoin.
In a free market everything has relatively value to everything else and there is no moat against opportunity cost. What matters is where one places their focus.
Well, the price of steak in banker's permission slips went up 22%...
I think Bitcoin is giving true signal.
We also have to factor in the fact that destruction, waste and chaos are inflationary forces even for hard money. The real deflation is when the world actually gets richer in real terms, while the money stands firm.
All the destruction of fiat malinvestment... waste, destruction and chaos will sap out real wealth gains for now. Bitcoin is more like a lifeboat when the fiat world is still crumbling. But it truly takes off as a deflationary rocket when real wealth creation takes over again.
We're in our benedictine phase. Charlemagne is yet to come.
đŻ
It behaves like a volatile stock in fiat terms because thats what most people see it as..
It will reveal itself to everyone with time .
"Perception is reality, until you know differently"đ§Ą
Impossible to explain it better