You can use them to save and spend for a few months or up to a year, but you shouldn't expect them to maintain their value over any period longer than that, and you could wake up one morning to it all being worthless.

I would put the best "alternative coins" (a.k.a. "shitcoins"), such as monero, ethereum, etc. in the short-term savings category, along with fiat cash bills (euro, dollar, franc, yen), private debt notes for precarious companies, junk bonds, factoring certificates, etc.

And, if you are already using something for your reserve, it makes sense to build at least one of your savings vehincles from the same base, for simplicity's sake and to maintain the primacy of your reserve asset by promoting its velocity.

The reason why Bitcoin even beats gold as a reserve is because you can keep information about it to yourself (so that you feel confident taking on a loan, for instance), you can store and transport it yourself, and you can publicize its existence by merely proving ownership of a particular key (so that someone else is reassured of your solvency).

That is why the ability to spend Bitcoin easily is not required to make Bitcoin the best reserve currency. Ease-of-spending is not a requirement of a money you never plan on spending.

In finance, we have the concept of

* short- (less than a year),

* medium- (1 to 5 years),

* long-term (5+ years) savings,

* and reserve (no plans for spending).

🍿

Thank you for your assistance.

TL;DR

The case for Bitcoin (including its second-rails) is not that you HAVE to use it for everything. It's that you COULD use it for everything.

If you are looking for a personal reserve currency, #Bitcoin is simply unbeatable. All of the arguments against it don't matter, if you hardly ever interact with it and it merely sits in cold storage to prove your solvency.

If you just want to buy a cup of coffee, pay your taxes, or order a flight online, you can use a second-rail of Bitcoin to do that, like Lightning.

Or use dollars or poker chips or frequent flyer miles or a pack of cigarettes or a silver coin or wash the dishes... or whatever they'll accept in exchange.

None of these things negate the importance of Bitcoin, nor are they generally more-efficient or effective than something like Lightning.

For the record, Bitcoin is the only digital currency that I endorse because I have audited the source. I feel confident recommending my friends and family purchase it.

Everything else I have seen has not been a better solution to the problems Bitcoin is solving.

If I didn't trust Bitcoin, I would simply buy more gold.

nostr:nevent1qqs07dtg9tah8r7ve5xmxp29a6rw50fygs8vdh5vd574zcnlq4dkd4spzamhxue69uh5ummnw3ezu6r4vfkkz6m9wghxjmczypaj6uar4jt3fvr9qqq9g493kf8ly4fsf66gspmgygfzzqwslnm6yqcyqqqqqqgxpszns

Hello

Yes, this is the case. My initial account allows delete.

Do you use multiple accounts? I have a bunch of them.

Perhaps it's giving me the "read only" menu.

Same in English. 🤷‍♀️

#m=image%2Fjpeg&dim=679x1506&blurhash=%5B56a%23Q%7Eq%25M%25M00D%25IUD%25-%3B-%3A-%3B-%3BIUD%25D%25M%7CWAxu%25Mt7RjM%7BRjWBa_j%3FRja_xut7t7t7E0M%7BM%7BM%7B&x=cce4597062ea8ea6ea1d6f7b1c720f1be2e356cf0d17f961cc7423c1957e6542

I have "Block/Report" as the last item. Perhaps because of some oddity with translated menus?

#m=image%2Fjpeg&dim=872x1653&blurhash=%5D25OKc%7EqITIUD%25Io%25M-%3Bozt79EWBxut7xu%3FbRjM%7Bt7RiD%25Rjx%5Dt7t7RPofs%3At7t7M%7BRkWVoffk%25Nj%5DRjWBt7RjWBoft7s%3A&x=a1dd432af279119d66ce928581121264c9e5794c8bf1b394b28b7530e280e2c8

GM

Generally don't like that you need to maintain a channel, so that you have to stay online. Seems inefficient.

I think there are some teams working to solve for that.

Forced closure. Some of the connections are unstable.

I tend to see "shitcoins" as experimental projects for possible second-rail technology.

Bitcoin is very good at being a monetary reserve asset and it can't be invented twice.