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JackTheMimic
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Hoch die anarchie. CTO at Sovreign.io

High energy:

E-book patient Zero (a Joe ledger novel)

Podcast: Rick Glassmans's Take your shoes off

Low energy:

E-book Anatomy of the state Murray rothbard

Podcast: "what is money" by Robert breedlove

Oh shoot! Are we supposed to tell everyone when you do that? Damn, I missed all the glory.

You said it is currency, it is not, definitionally. Also this isn't a narrative. It is a fact based observation. Bitcoin literally cannot handle the financial transaction load unless abstracted to another layer. Money is an asset and capital. There's not distinction in kind between the two.

Yeah, there's a bunch of misconceptions in this article. But a good heuristic for you might be that if someone is LITERALLY more invested in something than you, they might understand it better than you think.

The semantic "iT dOeSn'T sAy CaPiTaL in ThE wHiTe PaPeR?!?" argument is just a fundamental misunderstanding of money, capital goods, currency and financial systems.

Assets and capital are what determines final settlement. Is bitcoin settlement, final settlement? Yes? Then it's capital. Is lightning utilized as a medium for timely exchange to ease the use of the underlying asset? Yes? Then it's currency. Is there a promise to repay in exchange for interest or equity? Then it's credit. This is how money works.

Bitcoin is a capital asset. It needs a currency to meet it's transactional demands. This is beyond debate. A digital dollar is stupid. A currency pegged to bitcoin is not stupid. Lightning, Liquid, and e-cash are currencies built on bitcoin.

If someone knows exactly where your bitcoin is, and your physical body is. It is easier to get that bitcoin. Research executive order 6102.

Replying to Avatar guadatech

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https://video.nostr.build/8809b0e0be76d98e9b447de11dac6d87e623573eeb54d3b47710bc246bf5fd69.mp4

Recognizing the support of the nostr users who have made posible the first Bitcoin Chess Tournament in history

Cool. Happy to help.

Well, fiat is an "uncollateralized coupon." That's what make them so dangerous to use as a currency. Collateralized coupons are things like goldbacks or the lightning bitcoin tokens. Things redeemable for the underlying monetary asset.

Replying to Avatar ODELL

She's making a classification error. You AREN'T holding any bitcoin when you have shares of an ETF. But single SIG is not the best hodling solution, but you own 100% more bitcoin than anyone with shares of an ETF.

No, money doesn't scale any other way. Collateralized coupons are how you use an asset most efficiently. Surveillance is up to you. Do you want a layer 2 coupon with a custodian? Then you've chosen surveillance. You use liquid or e-cash you have a multi-custodial model reducing surveillance. You use lightning you have the least surveillance and most control. Base layer assets can either be secure or a fast medium of exchange, not both.

That applies to anything though. So, don't give anything to your wife on Christmas and see how that does for your marriage.

Their names are Thunder and Lightning. Whether in dutch "Donder & Bliksem" or in German "Donner & Blitzen" just anglicized pronunciation. It's whatever is most heartwarming to you.