I think nostr:nprofile1qqszzfn37zgjjwv2mtdqsyhapgf8f3m5xvd6t7mev7j7ahherk9g2fqppamhxue69uhh5cts9emkzarrdqq3vamnwvaz7tmhda6zuumgv9mxjmn89e4kjamfsh6da3 may be interested to see this. ☝🏼

We generally think of the Bitcoin adoption path as first store of value, then medium of exchange, then unit of account.

But… with Taproot Assets and stablecoins, I think we are going to see an adoption path that goes medium of exchange, then store of value, then unit of account.

The Free Market Is Deflationary, but you will only notice that if #Bitcoin is your Unit of Account.

#HosKasi Adi 🫵🏾🇸🇴

One of the reasons we do accounting is we want to know if we generate profit or if we are losing money. The benchmark for this is just holding money, which is defined in the accounting as having zero risk.

The choice of this unit of account is based on our goals, preferences and often the type of money we use in life. Why? Because in the situation of profit, we want to have higher purchasing power. That's why I've been doing all my personal financial planning and accounting in gold, even before Bitcoin came to be. That was a better reflection of purchasing power.

But here comes opportunity cost. Do I want to make 10% p.a. on fiat tokens when I could have bought Bitcoin? Or do I want to make 3% p.a. in bitcoin terms? Using fiat coins for accounting is just useless, it does not tell you anything about your purchasing power (discounting with CPI does not work). And it completely hides away opportunity cost of holding BTC (risk free - in your own cold storage.. Here I'm not talking about price risk, price does not matter if you want more BTC).

For many people and even companies, Bitcoin is already de facto unit of account.

It's not all unicorns and roses though. It is extremely hard to get Bitcoin denominated yield from entrepreneurial work. The benchmark is hardcore. For many it just means saving resources of the society (also known as hodling - deciding not to use scarce resources you can use and hold only money), and having more free time. But you can also do things where you get return on your time but not money. You save money and turn time into more money. Or you can borrow (short) fiat and invest that.

One thing is certain - any entrepreneur not thinking in Bitcoin terms does not see the full picture. That does not mean they have to switch their unit of account, they at least need to be aware of the trade-offs though.

BIP177 proposes redefining Bitcoin's base unit by making 1 satoshi = 1 bitcoin.

Currently, 1 bitcoin = 100,000,000 satoshis.

This change aims to simplify transactions and reduce confusion.

Hundreds of years ago, the best technology for money was gold and the limited technology of the time forced 3 functions in to money: medium of exchange, store of value, and unit of account.

And then some genius invented currency, severing the link between medium of exchange and store of value + unit of account.

Bitcoin does essentially the same thing, except that it severs store of value from unit of account. Sure, one can use bitcoin as a means of exchange (although liquid and lightning function far better in this regard) and one could use bitcoins as a unit of account (good luck paying back a bitcoin denominates loan!) but you don’t _have_ to.

So what is the future here? Perhaps you can have a government defined unit of account still dominate in the new bitcoin world order. Money and currency have coexisted in some form since the Medici family…

Happening during Bitcoin 2025 May 27-29.

🌟 Calling all Nostriches! 🌟

We're excited to announce a potential next Nostr.world event in Buenos Aires this March! Before we lock in the final details, we'd love to know who might join us.

📅 Tentative Dates: March 17-25th (exact dates TBD)

📍 Location: Buenos Aires, Argentina

Please react to this post with:

💜 - I'm definitely coming

🍊 - I might come (50/50)

✨ - I'm interested but need more details

🫂 - Can't make it but want to show support

Additional Info:

- This will be a community-driven event

- We're in the early planning stages

- Your input will help us finalize the venue and schedule

- More details about activities and schedule will follow

Drop a comment below if you have any questions or suggestions!

#asknostr #BuenosAires #growNostr #nostrCommunity #plebchain #nostrgentina

I’m going to end up doing a full year without going to bitcoin conferences, by design.

I skipped Nashville, skipped MENA, skipped all the European ones. Nothing against them. Just wasn’t feeling it.

I did the Oslo Freedom Forum in June, but that’s not a bitcoin conference. The last actual one I did was Madeira in spring 2024.

Sometimes it’s good to take a break and refocus rather than phone it in and say the same things again. The things I said before are still valid, so why say them again, you know?

I’ve been traveling to visit family and friends instead.

Ok, but shouldn't a medium of exchange be USED? That's my main concern. A strategic reserve makes sense for a Store of Value, but as a Medium of Exchange, I'd want it circulating in the economy.

I want more than "number go up" from Bitcoin. It can't be a medium of exchange or unit of account if it never moves.

So I don't believe that a US Strategic Reserve should be set to "NEVER SELL" because that eliminates the entire PURPOSE behind Bitcoin in the first place. Or at least 2/3rds of the purpose.

What don't I understand here?

#asknostr

gave away couch, chairs, desk, and most of my stuff. feels great

life is better without stuff. less friction. good people & outdoors is all you need

I need to follow more plebs on here.

Please shill your favourite nostriches. Bonus for < 1,000 followers

It is a lot of double handling but I find it worth to live on a bitcoin standard. My exchange where I do most of this will be issuing a credit card soon that will pay off with bitcoin automatically. In the meantime, I do the extra work based on first principles.

Personally I’m leveraging my software development team to build more tools that will support bitcoin as a unit of account that will work with the financial solutions that will be forthcoming

It seems like a lot of double handling of the money and going through exchanges you might be hit with KYC. If you could buy a prepaid debit card in bitcoin, or have a credit card that accepts bitcoin, this would work much smoother.

GM Nostridges!

Anybody else beginning to mentally convert dollar prices to sats in their head?

$7... that's 10.5 kSats.

$20? 30 kSats.

kSats are almost at Dollar parity, feels good to see it.

I'm starting to actually feel like Bitcoin is my personal unit of account in day to day living.

Feels really good, I'm excited for the future.

I despise all FIAT and look forward to the day we can actually transact at any store in sats. That day is fast approaching.

#BitcoinStandard