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Brett Phillips
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Brett I. Phillips My initials are bip 🤔 I like to play devil’s advocate and take the contrary position.

In your said future, bitcoin is used to buy goods and services. You intrinsically understand the value of an hour of labor or a loaf of bread. With those being priced in bitcoin, you will quickly make the connection of the value of a satoshi at that point in time.

Replying to Avatar Zaelus

I see constant talk about how Bitcoin is the way of the future, how it's the answer, the solution to the corrupt and mismanaged fiat system, a revolution, a way to put the power back in the hands of the people, digital capital, how it has so much utility, how it is the perfect money...

But I never

ever

ever

see anyone talking about how we'll actually value it in a future where it has achieved the goal that everyone idolizes. Why? Why does it feel like there's no true long-term plan?

Lots of people say "don't value your Bitcoin in fiat", but they just stop there. They don't even bother with trying to extend that thought. I feel like this is a mistake to not take it further.

Imagine a future where Bitcoin has become our new primary store of value and we no longer value Bitcoin in fiat. How will we value it at that point? What will one BTC be representative of?

How will we determine this new system of value? How will we arrive at a consensus for it? Will this somehow naturally and organically grow out of the decentralized nature as the system becomes more and more widespread and adopted and used, similar to the dynamics involved in the emergence of the first currencies? Or will there need to be some form of committee formed to make a decision about how we value BTC? Will governments play a role in this?

All the talk of "0.1 BTC is all you need" and "whole coiners" is all purely based on fiat, and doesn't address anything about the long term future of Bitcoin.

I was wondering if people can tell me if any thought is actually being put towards this. I'd like to read about any progress towards this, or about thought experiments for it, or see videos or listen to podcasts that discuss it. So any kind of recommendation of reading materials or other information would be greatly welcome.

Memes and pithy hype quotes aren't going to do shit for us. If this truly is a revolution, we need plans, and we need to ask the hard questions and deal with the tough discussions and start to think about the goal we all dream of actually being realized. Memes and parroting "stack sats" are the lowest of the low hanging fruit.

#Bitcoin

You’re really over thinking it. How do you value a banana when in a foreign country?

It honestly reads like they need to grow up. Being disillusioned with the industry you work in is par for the course for most adults.

If you don’t want to work on Mutiny, that’s your prerogative; just say so. You don’t get the right to shift blame onto what you see as a shift in ideals of a community you only pose to represent.

Password managers have been hacked/leaked…see LastPass.

You are facing the same risk in a different form every time you hand it to a waitress or bar tender, swipe it on a payment kiosk (possibly fake), or use the card details on an e-commerce site.

The price falling here does not signify the majority is not using self-custody. It’s a possibility but a just as equal a possibility is that 99% is self custodial and there is a very small circulating supply contributing to large price movements.

Pacific Bitcoin 2024 cancelled?!

The “influencers” we need. Keep pushing.

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I would like to see this in Primal where you can zap a post.

It’s when exceptional ability combines with remarkable vision. Many have one or the other. I was thinking about this not too long ago.

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🫡

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You don’t. It’s part of their journey. Others must be allowed to make the same mistakes that you did in order to be enlightened as well.