(*special to nostr*)
by Duncan Cary Palmer
13 December 2023
Though volatile, when properly understood, bitcoin is the protocol that will ultimately absorb and represent ALL the present and future wealth of humanity.
Even in the end-game—after the last satoshi has been mined and all bitcoin is in circulation—bitcoin will continuously increase in value as mankind, year upon year, creates and introduces new wealth into the world. While estimates of the annual benefit vary, a bitcoinized world will likely enjoy a minimum of five percent annual deflation, and more likely twelve percent or more.
Because of this, you know that EVERY transaction that involves your selling or spending bitcoin is a transaction that will ultimately benefit the bitcoin recipient infinitely more than it presently benefits you.
For many reasons, you will of course continue to transact...
One is necessity; bitcoin will have become the only money that most are willing to accept, all others being evidently inferior.
You will have to spend bitcoin for goods and services that you may need or want, or else have to barter or work for them.
If you have been prudent enough to retire on bitcoin, you may occasionally need to exchange it for some lesser currency, knowing full well you are on the losing end of the bargain, though it benefit you *in the moment*.
My point is this:
You need never feel ANY remorse for the other party when spending, exchanging, or selling your bitcoin. Even if its apparent momentary value may fluctuate wildly, bitcoin is as sure to rise as tomorrow's Sun. It's now up to the recipient to either HODL, or be on the losing end of the next transaction.
#bitcoin #philosophy #economics #worldview #viewpoint
