Gold makes a poor form of currency for several reasons. Divisibility, portability, ease of use/acceptance, counterfeit resistance, etc. Yes, but that doesn't mean there isn't a best one, of which Bitcoin absolutely is.
Delete…I don’t care enough about this to get into the argument that I’m sure would be coming had I not deleted lol
Also proof of reserves is important and much easier to verify with Bitcoin. This is a heavily debated topic, but leveraging and lending/borrowing against Bitcoin at an institutional level will be a thing. Not everyone has the reserves they claim to have but there is no way to prove it. This comment mostly applies to central banks.
So gold 2.0 then? Having a monetary supply that can grow to meet the demands of a society is pretty important. There’s a reason things were so much more boom and bust before fiat. It’s just interesting how confident you in a monetary system that is still very much an asset class right now and has none of the features of a currency.
If 'growing to meet demands' is important to you should be the biggest Bitcoin backer in the world. (Unless you mean inflation growth lol) BTC has plenty of features of currency. Portability, divisibility, verification, etc. The struggle right now is purely based around how fast transactions clear and finding places to use it, which are both problems that will be solved in time with tech advancements.
Which is different than Bitcoin welcoming government cooperation from my perspective. I do. The role of the government evolves, especially as we change from an agrarian society to an industrial one. Seems optimistic. If the US, much less the whole world is using Bitcoin I would assume many awful things happened.
On paper is way different in practice. I can’t say that Bitcoin has any current features of a currency. You can’t just flip on a switch from asset class to currency.
You are correct. There will be extreme pain and suffering during the transition (not Bitcoin's fault, btw). Of course there will be extreme pain and suffering regardless because centrally controlled currency has left a trail of bodies a mile wide throughout history, but at least in this instance the strife would be for a purpose and not just arbitrary and circular/cyclical. You can't? Really? That's funny, because I can name a few off the top of my head: Portability - can be moved quickly and easily Divisibility - can be infinitely divided into smaller increments Resiliency - can't be debased, can't be counterfeited Uniformity - easy to verify/recognize Scarcity - fixed supply Durability - never expires It's kind of like looking at this gradient and asking "when does this change from white to black"? Nobody really knows where the tipping point is when people will consider Bitcoin more of a currency than an asset or investment. All I know is that time is certain to come.
Huh..... well that's a crazy statement. Feels like I'm discussing religion and not economics. It is funny you completely ignored what I typed...... I'm talking about the difference between thoughts and prayers and real applications as I literally said "on paper is different than in practice". No one is using BTC as a currency besides folks trying to keep their actions hidden and small countries that are barely functioning. Good luck with all that. Which is like saying I'm certain my god is real and yours isn't.
History has many tales of economic calamity and the suffering that follows.... only for the same mistakes to be repeated again. If we have a collapse that is followed by the adoption of a superior currency that prevents this cycle from repeating, I'd say that's a good thing. I ignored what you typed because it didn't make any sense. I just gave you several good examples of why Bitcoin makes a good currency that are already in practice right now. Lol, reminds me of this common BTC meme. Spoiler It's more like saying "I'm certain my theory is correct and yours isn't". When it comes to the unknowable, one guess is practically as good as another. This, however, is not such a problem.
If someone uses bitcoin as as currency thinking they are anonymous, they are a dumb criminal. non-kyc bitcoin is very valuable. Anyone holding non-kyc bitcoin intentionally is certainly not using it as a currency.
Very likely never, or certainly long, long after we're all dead. Second layer or complimentary technologies may be added, but it's impossible to recreate the circumstances that gave birth to it.
at what point do you give up on trying to make BTC the thing? I would think another 50 years of this....yall are going to sound like a bunch of crazies no?
Doesn't take much effort on our part, because the fundamentals on the ground support BTC adoption. The real question is how many more years are you going to devote to attacking BTC with your ignorant hot takes while it just keeps gaining value and popularity. This is what you look like to the rest of us:
right. it's a US elitists vs. ignorant fools using credit cards and dollars.. ok bro. You elitists haven't given me a single practical thing I can use BTC for now. Never have I thought, man if I can pay for my dinner in BTC, I would be happier. It's always "decentralize" everything but again, how does it help the average joe. not the nerds online.
