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Old man, young bitcoiner

Sounds likely. Gold will surely have its place in the future, but it will likely not be a monetary instrument, just a raw material like any other, used for jewellry and industrial applications.

Am I really understanding this correctly? To adapt to pre-coiners outside our echo-chamber… the suggestion is to abandon the number 1 metric to lure in pre-coiners? Abandoning the powerful NgU metric all people know as one bitcoin?

Replying to Avatar Lyn Alden

I’ve always been amazed that people go cashless, meaning they literally walk around and even travel without cash, and just rely on cards to pay.

Credit and debit cards are centralized and can be shut off or denied for all sorts of reasons, or can run into technical issues. BTC/LN is better because it’s decentralized, although it still needs power+internet and merchant acceptance. Cash as physical bearer asset money is great. Of course I wish cash was redeemable for something sound, but maybe in the future that’ll be the case again. In the meantime it’s good to have a few meals or taxis or hotel rooms worth of cash on hand.

I always have a diverse mix of digital and physical payment methods on hand, so I never get caught unable to pay.

So far in life I have only had one instance where I couldn’t pay. I was at a restaurant in Cairo a few years ago and their card machine/connection was down, and were only accepting cash. I had physical US dollars but they were part of a bigger corporate restaurant chain and so didn’t have the flexibility to accept them. My husband normally carries Egyptian currency but didn’t have any on him that day, and since he carried it, I previously did not. Neither did our friend that was with us. So we had to go on an awkward search for an ATM for a while and then come back and pay. And from that point I iterated, so I always carry Egyptian currency in Egypt as well as my other methods. And it has come in handy a bunch of times, when my husband needs some spare cash for tips or something I always have a little stockpile ready to go since I am a stickler about always having a certain amount whereas he is more flexible.

I always have a kind of “prepare for everything” type of mentality and like to be in control of my situation, and thus always have like backups for my backups in various contexts, including payment or being able to access various types of value anywhere, even when such preparation is not really needed.

Personally, I’m almost always cashless. Can’t say it’s the most sensible thing to do, but yet I do. Probably because card payments are very convenient. Especially when cards are used with Apple Pay, which means that the actual plastic cards are more of a backup. I can only remember one time last year that I had to rush from a store to an ATM due to some kind of network issues… but it’s very rare. I wonder what would be the equivalent of physical cash in a hyperbitcoinized world? For situations where there is no internet or mobile connectivity available 🤔

No, but based on the interviews I’ve heard about his thesis, I believe his ideas are somewhat stuck in the era of nation states.

Will there be wars in a hyperbitcoinized future? Who would fight them and why?

Teamwork is overrated

One day closer to hyperbitcoinization

Humanity as a whole is astronomically more capable than the hunter-gatherers were when it comes to harnessing energy and engineering new technology. We now possess knowledge and computational capabilities in our pockets that were unimaginable just decades ago and would have been deemed godly centuries ago.

A lot of this points to the fact that we seem to be on an exponential growth curve in terms of capability and intelligence. At the same time, ironically, we do not seem to be any wiser than the ancient greeks were. We still look to Sokrates, Plato and others for wisdom, and we ask the same big questions about life and the universe - and a lot of them time, the answers (or lack of answers) are still the same, despite our godly knowledge.