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23 sats \ 3 replies \ @k00b 10 Apr 2023 \ on: Discussion: How much will the average person know about Bitcoin? bitcoin
I generally agree with most of your wonts/musts which uses the rule "they will know the least possible."
They might not know why but I think they will understand that you can't just print bitcoin. People understand, generally, that you can't just create gold. They might have vague ideas about why you can't create gold, but they understand it's difficult/expensive to acquire at least.
If we are hyperbitcoinized, I worry that most people won't be able to save on-chain as is. I do suspect there will be savings and checking equivalents, but I'm not sure we can predict the underlying tech.
Yeah it does seem like gold will be a common analogy, and I would imagine "you can't print bitcoin" will be a common phrase as well. Honestly, it's going to be super interesting to see what political and media narratives will be once this really starts shaking the earth. I know Elizabeth Warren and a few others already see it as a threat, but it's still very much shrugged off as not serious.
Out of curiosity, why do you think most people won't be able to save on-chain?
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Transaction throughput.
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That's why I wrote this guide about "community LN banks".
https://darthcoin.substack.com/p/bitcoin-private-banks-over-lightning
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