I’m currently working on products to sell at Bitcoin Tokyo. I plan to engrave some text on keychains and sell them, so if you know of any good phrases, please let me know.
As for myself, I’ll be engraving the Bitcoin Genesis Block address: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. Does anyone have any other requests?
I would like a more detailed explanation regarding the relationship between Bitcoin and Zakat. Last year, when the earthquake occurred in Herat, I made a donation in Bitcoin, but was there any issue with that?
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Reflections on the 2011 Great East Japan Earthquake.
Of course, in the aftermath of the earthquake, companies and workers from across Japan gathered to fully commit to the restoration efforts, rebuilding the buildings and infrastructure that had been destroyed. However, we must not forget that volunteers, clergy, humanities scholars, and artists also gathered to help restore the spirit of the Japanese people, who had fallen into despair.
If we compare the earthquake-affected areas to a human body, the reconstruction of infrastructure corresponds to physical healing, while prayers and art are akin to the treatment of trauma and PTSD.
I think it would be very difficult to achieve something like that, so I believe it's better to use Bitcoin to address individual issues in each region
I think there’s a fear of deflation as we are so used to living with currencies which are, as a matter of government policy, supposed to lose value at a steady rate (2% inflation target).
One interesting view is that if Bitcoin succeeds it will give people more time to discern what to spend their money on.
Are you aware of nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe ‘s work? It gives good reasons to welcome technology’s ability to make lives better and not to fear deflation.
I personally don't think society will change in that way.
Even now, intelligent and moralistic individuals are manipulating stocks and real estate to accumulate vast wealth.
While they are engaged in social charity work, they are also unconsciously hacking harmful systems even more.
Therefore, I believe that what those who feel there is a problem with this should do is to temporarily modify the existing system to a parallel state.
1. Maximum Bitcoin supply: Approximately 21 million BTC (actually using 20.5 million BTC for calculations)
2. Current world M2 money supply: Approximately $100 trillion (estimate)
3. Required proportion to function as a reserve currency: At least 20% of global M2 (conservative estimate)
Calculation:
1. Required total value = $100 trillion × 20% = $20 trillion
2. Required value per BTC = $20 trillion ÷ 20.5 million BTC ≈ $975,610/BTC
This means that for Bitcoin to have sufficient liquidity as a reserve currency, it would need a value of about $1 million per BTC (more precisely $975,610).
According to data tracked by ETC Group and Glassnode, entities with no liquidity currently own 14.61 million BTC. Re-evaluating the situation based on this data:
1. Total Bitcoin supply: Approximately 20.5 million BTC
2. Owned by entities with no liquidity: 14.61 million BTC
3. Remaining liquid Bitcoin: 20.5 million - 14.61 million = 5.89 million BTC
Updating the previous calculation with this new information:
1. Required total value (same as before): $20 trillion
2. Liquid Bitcoin: 5.89 million BTC
3. Required value per BTC = $20 trillion ÷ 5.89 million BTC ≈ $3,395,585/BTC
This result reveals the following points:
1. Need for price increase: A value of about $3.4 million per BTC (more precisely $3,395,585) would be necessary. This is about 113 times the current price.
2. Extreme price surge: Compared to the previous calculation ($975,610/BTC), this requires more than a 3.5-fold increase.
3. Accelerated wealth concentration: Wealth would be further concentrated among holders of the 5.89 million liquid BTC.
4. Market vulnerability: The low liquidity could lead to increased market volatility.
5. Accessibility issues: Such high prices would make it even more difficult for average people to own Bitcoin.
6. Increased deflationary pressure: The effective reduction in supply would further intensify deflationary pressures.
While fiat currencies have their own set of contradictions and issues, such as the risk of inflation due to unlimited supply and potential political interference in monetary policy, the concept of Bitcoin as a global reserve currency faces significant challenges that make it unrealistic in practice.
The primary issue lies in Bitcoin's fixed supply and current distribution. With approximately 74% of the total Bitcoin supply held by entities with no liquidity, the amount of circulating Bitcoin available for global transactions is severely limited. This scarcity would create an enormous and unsustainable deflationary pressure if Bitcoin were to be adopted as a global reserve currency.
To function as a reserve currency, each Bitcoin would need to be valued at millions of dollars, far exceeding its current price. This astronomical valuation would lead to several issues:
Extreme wealth concentration among a small group of early adopters.
Practical difficulties in using fractional amounts for everyday transactions.
A severe deflationary spiral as people hoard Bitcoin, expecting further price increases.
Economic stagnation due to delayed spending and investment.
These factors combined make Bitcoin, in its current form, impractical as a global reserve currency. While it may serve other valuable functions in the financial ecosystem, its fixed supply and current distribution patterns create insurmountable obstacles to its adoption as a primary global currency.
Exactly. That's why everyone must continue their efforts for the post-fiat standard. We shouldn't stop at the idea of the Bitcoin standard.
I believe that Bitcoin can help solve specific problems in various regions, but I can't agree with the Bitcoin standard. There's a discrepancy between Bitcoin's functionality and the rhetoric promoting the Bitcoin standard
It's not that easy to come up with new design ideas. Also, due to the limitations of 3D printer performance, we can't print fine textures, which restricts the design possibilities
I'm currently having a discussion with a friend about identity, but has everyone ever thought about who they really are?
Feel free to mention your thoughts on this
What do you think of Bitcoin when viewed purely as a financial product?
Do you find it attractive enough to include in your own financial portfolio?
In this case, there's no need to discuss the philosophy behind things like the Bitcoin Standard.
Product and Company Branding Discussion
A brand concept refers to the core beliefs of the brand. When we talk about the brand concept, we mean the MVP (Mission, Vision, Purpose).
Vision, in particular, is crucial.
Thank you very much. However, connecting humanitarian aid with my business would make me just an economic animal, so I will keep this as a personal matter
However, since I'm not hiding my own bleakness at all, so the photos leave a very pure impression as works of art
I'm looking at some old photos I took a long time ago, and they're shockingly bleak. I hesitate to show them to others
That's true, but since yesterday I've been chatting with Palestinian acquaintances living in Gaza. They naturally have no sovereignty as they have no place to live. They need not only a place to live but also human dignity at the same time.
I've been thinking lately about how to connect these issues to my own business.