I'm not sure. I'm just a random guy who tries to understand the economy and Bitcoin and think about the future. So maybe I am. Mainly the part that confuses me is all the people who say "don't value your BTC in fiat" and "1BTC=1BTC". How do these sentiments fit with price discovery? I think this is the core of what bothers me, people in the community just seem to accept this and shower it in praise and likes. But I don't agree with that, I want more details.

I think that this applies more to a scenario where a currency is first being created. But we won't be in that scenario, we'll be shifting out of a deeply corrupt and mismanaged centralized system of fiat to something new. The new system will not be completely unaffected by this transition.

I agree that it will be this way at a high level, but I was curious to see if people had tried to hash out any more specifics on the subject.

It's different because of the core narrative of 1BTC=1BTC and "don't value your BTC in fiat". All I'm trying to do is think about what that can actually seriously mean from a logical perspective.

At some point if the current system dies, a new system must replace it, and 1BTC=1BTC is completely meaningless.

Even if we don't need a grand plan, do you just refuse to even think about it? All I'm trying to do is think about what the future may hold, and I noticed that there's an overabundance of memes and stupid quotes and a lack of any kind of questions like this. I get it that it ruffles peoples feathers, but maybe that's an indicator that it should be discussed more.

So would it be logical to say that it would likely just naturally evolve out of the value system we currently use? So like... purely hypothetical here, BTC goes to 10 million USD per coin and that coincides with the "switch over" point to where we start using BTC as the monetary system... we'd use the current value of things as the basis for starting out the new value system? Like, okay my $1M house now only costs 0.1BTC.

I can see you're part of the pithy hype quote squad.

Infinity divided by 21 million. So you think all of existence falls under the reign of Bitcoin, huh? So if there's 21 million universes, 1 BTC = 1 universe?

I'm trying to get some actual level-headed and serious discussion on what I wrote. I'm not a fucking troll. I've identified a gap in the discussion around Bitcoin and I wanted to try to see peoples thoughts on it. You reply with this bullshit because you somehow took offense to what I wrote. This is why you need to reevalute what your long term goal is for Bitcoin.

I'm not talking about a place that we're even close to getting to yet, I'm sure this would be decades, if not more. But eventually if Bitcoin does what it is meant to do, it will not be represented by fiat currency, can we at least agree on that?

I'm asking if anyone has considered how we will value it at that point. Maybe it would be in terms of units of energy?

Please feel free to help me gain perspective and see the correct way to think of it. So far I've gotten a few replies to this that all say absolutely nothing of any substance and seem to be purely emotional reactions.

Why do you feel like this is any kind of sufficient answer to anything at all?

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

How do we get the majority of Bitcoiners to stop posting memes and pithy hype statements and spend time focusing on actual important issues like this?

Agreed, it's UI/UX is still definitely rough and awkward in a few places. I like to actually swap between it and Gossip. Gossip feels even more weird, kind of like an application from the 90s or something, but I appreciate the amount of lower-level info it provides.

Thanks for the info... I guess in these specific cases it's probably like you said, they haven't really had a reason.

Both noStrudel and Gossip give feedback on the status of every event generated from your key.

Oh shit, look, the identity of the special guest is finally revealed!!! 💩

https://www.4029tv.com/article/trump-bitcoin-event-delayed-due-to-security-concern/61738786

I just made a post about this a couple days ago: nostr:note1ka3pp0gc83cflnnhd58j3pehnk5z8g6f4evd4hjjtgcpvwkmwj2qjqp7w2

Using noStrudel, it will show you the status of every event generated from your account. I've started noticing that with any event whether it be a reaction, zap, note, etc. just as you mentioned, there's always at least a few relays that don't accept it for one vague reason or another.

The thing that really bothers me about it is that with most of them you can't go and see what rule you broke or what the specific cause was if they don't include it in the 5-6 word error.

Awesome, thanks! I'll check these out.

Completely agree on all counts.

When you buy BTC on an exchange and then want to send it to another address but they block your transaction, call you on the phone, make you confirm your name, birth date, address, and verbal confirmation of the address you are sending it to and that you understand what you're doing prior to allowing the transaction...

Wouldn't they be logging this information and using it for some form of reporting to some other organization? Because I know they sure as fuck don't actually care about the safety of your assets. Is it for liability? "You can't complain about us if you lose it because you gave confirmation" type of thing?

Would you be willing to post some educational resources - links/books/articles/etc. - you think can provide what you're describing here?

I think the core of what we were all truly hoping for in our hearts from hearing Trump speak was just a shred, an iota, just a CRUMB of evidence that he truly understands Bitcoin's higher purpose and potential for the future.

Do you feel like that's what we got?