pull down to refresh
0 sats \ 0 replies \ @clr 15h \ parent \ on: If Bitcoin’s onchain throughput 100x’d today, it wouldn’t even double adoption. bitcoin
Thanks for sharing your point of view. I just would like to understand if you want to answer:
- I imagine that coming from gold, you view Bitcoin as an improvement to gold — digital store of value. But gold already failed as medium of exchange and unit of account. Fiat is better for those two purposes (you cannot make digital transfers with gold).
- Circular economies as socialism: I don't disagree, and Satoshi himself was a socialist under that lens: he donated his time, wrote the software, gave up riches, fame, recognition, etc., for bitcoin to succeed. I think comparing the circular economies with a Ponzi is not correct because bitcoin itself is valuable worldwide, even outside of their circle.
- Telling family and friends: when I discovered bitcoin, I couldn't stop talking about it. I had the same thought, but I also thought that they didn't have enough money as to alter the price significantly.
- When I see this point of view, it always seems to come from people who live in "developed" countries and have fiat privileges: I don't know about you, but I assume you have several bank accounts, credit and debit cards, and whatnot. If your fiat privileges were revoked for whatever reason (bank accounts closed/frozen), maybe you would like to be able to spend bitcoin easily and have a wide bitcoin acceptance in society. That's why I want bitcoin to be accepted as MoE and ultimately UoA and I don't think that makes me a socialist (it's ultimately for selfish reasons).
- How will you flourish in a society where transactions are surveiled, tracked and blocked and using bitcoin is heavily punished? The "rational" economic analysis never accounts for tyranny. You will probably be among the richest guys in the prison and you will be able to purchase tuna cans, a radio, pay for phone calls... but is that really the future you want for yourself?