If Bitcoin is only used as a treasury asset, I will consider it an abject failure.
I still believe it can become the de facto currency of the internet, and then of the world, but success is not guaranteed.
We need to put the work in.
Discussion
Truth.
everyone will get the bitcoin they deserve. for some that will be digital shares, for others it's hard sats in self-custody 🤷♂️
Exactly. Early prospectors we're rewarded for their self determination with veins of pure gold.
Later, mass adoptors we're relegated to tiny amounts propagated down through coupons and certificates.
We're the prospectors.
Thanks for all the help with solutions like Zeus
Two reasons why #Bitcoin will be MoE, much lower friction than USD, and it will eat the USD. The only question is if there’s an overlap, or whether hyperbitcoinization will be explosive.
It will.
Failure for your preferred use case. If Bitcoin is for enemies it's for those with different uses as well and it may well be the best asset for many others.
This is the big dilemma. Will it remain a financial asset and a store of value or will it become a currency as satoshi would have wanted? Only time will tell. Obviously in my opinion it will become a world currency but it will still take twenty years in my opinion.
People like yourself are putting in the work to ensure the tools are in place for Bitcoin to not only be a reserve treasury asset. Thank you.
Fiat has to start sucking even more so that normies will start considering using it. But this might take a while...
I think the way of adoption is
unit of acount -> settlement of institutions -> direct payment
Bitcoin has a SOV is already here. And it's a huge win to have this tool outside government control.
As per the MOE, this could play out over decades, if not centuries.
So no if Bitcoin is not the universal MOE when you die, it won't mean it never will be
Vast majority of the people I know who own Bitcoin IRL have zero desire to use it as a daily medium of exchange.
While I want freedom, they want their slavery to be comfortable and convenient.
100% I have been talking heavily about this. We need to transition people from earning fiat and buying bitcoin for its SOV to businesses accepting bitcoin so bitcoin can be earnt, saved and spent. This will increase adoption massively. MOE and SOV need to work harmoniously together.
You people just don’t get it.
Absolutely! It requires on open mind, too.
That's why I think Kaspa might be a viable alternative. However, there is still a lot to do, such as scaling to 10 bps, which will happen on May 5th, and implementing smart contracts.
Since it is based on Satoshi's ideas, Kaspa is, in my view, the only conceivable alternative to Bitcoin that can effectively address the blockchain trilemma. All other projects are in my opinion failures, as they deviate significantly from Satoshi's original vision.
On the other hand, it is certainly conceivable that Bitcoin could potentially be used more effectively through Layer 2 solutions without fragmenting the network too much.
But only time will tell which currencies the masses want to use as MoE. Hopefully, we’ll use better money than fiat in the future.🫡🧡💚
What are 3 kinds of work that willing "foot soldiers" can do to help?
Write code or contribute to open source projects
There have to be more ways to contribute than writing code or financially supporting developers. What about ways to help onboard local merchants? If the goal is medium of exchange, then I feel like you need more boots on the ground.
Absolutely. Building that side of the circular economy is equally important.
Starting businesses is one too.
Your website getonbtc.com is awesome! I think I might use it to try to on board new merchants to BTC. What was your intention when creating your website? Any tips for starting the orange pill conversation as a non-salesman?
Thanks 🙏
The motivation behind the site: normies.
The average attention span is 8 seconds (a goldfish is 9)... and shrinking.
99% of all Bitcoin related materials... long and lengthy. And, poorly written.
Compound this by limited time (whether by choice or not), this is why lots bitcoin content FAILS.
Short sentences, easier to read. Simple language, easier to understand. Meet people where they're at.
With Get on BTC, it should educate the visitor in seconds. That's the aim.
For selling...
It's about solving problems. Their problems.
But you can't (convincingly) sell something you don't know about. This is where just about everyone fails here too.
The only use case many know is "buy and hold." Rarely use in commerce. But if you know how it works, then you can confidently speak about it to someone. You know it works because you use it.
Think about when you share a song or a restaurant with a friend. You know the song is good because you listened to it. You know the restaurant is good because you go there. Experience sells.
If you use it, you know it. If you know it, you can sell it.
Hope that helps.
Also, to help demystify it…
An easy book as a leave behind for these conversations.
Amazon:
https://www.amazon.com/dp/1304224864/
Lulu (discounted):
That's why #BitcoinCash.
And that's why #Monero if you want #privacy.
I've been in Bitcoin and related since 2017 and fairly deep into it as well. The fiat systems are definitely a rich man's game. Bitcoin offers a glimmer of hope.
From the prospective of the person who has no shoes, I'm sure they feel like they are trading one master for another.
If the day ever comes when people are more focused on helping each other rather than helping themselves, then Bitcoin might shine.
I originally thought Bitcoin could not compete with the likes of HBAR at the retail level of finance, but the L2 networks bring it into the ballpark.
We may just have a situation like we had with Javascript, where it became the dominant tool not because it was technically the best, but because so much money and effort was poured into it.
If I was a elitist control freak, I would pour my resources into an L2 network because I could control (and profit from) global liquidity at POS, whereas something like Hedera is much more difficult to do that.
I'm now forming the opinion that Bitcoin may indeed become the de facto currency, just not directly.
Bitcoin in the raw is fighting against Gresham's Law of currency where bad money always drives out good money. To be successful as a global currency, it needs an evil twin IMO.
Peer-to-peer electronic cash system. #bitcoin ‘s true purpose