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we have to USE it.
oh yeah? by giving them away to Saylor in exchange for crap fiat ? That is the future in your vision?
FUCK THAT SHIT.
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giving them away to Saylor in exchange for crap fiat ?
No one said anything about Saylor, it seems you didn't read the article I wrote. You can use BitEscrow to deposit them into a contract.
I have been building it for 3 years with my CTO so that you don't have to use a bank at all. BitEscrow is noncustodial and open source. I encourage you to have an open mind and check it out.
https://www.bitescrow.app/
My Vision is the following:
- Deposit Bitcoin into a contract from any source you want; it's your money. This can be from Coinbase or wherever else.
- Hey THIRDPARTY I have 1 Bitcoin in a non-custodial deposit account, can I get a credit card backed by that? Or a loan in fiat? (anything else you can imagine)
- Let's assume it's a credit card: "sure thing, here you go. This card works at any point of sale, by the way!"
- you are now using the existing rails of fiat to use Bitcoin.
What do you think? I really encourage you to think about the implications of Bitcoin as collateral.
Furthermore, I don't think very highly of Saylor. His lack of contributions to developers is disappointing.
How is it bullshit?
How so? What does adoption look like to you at scale with onchain fees? What about lightning infrastructure? Developer adoption? VCs funding these tools? Developer education? Is it so bad if we used fiat as a bridge to onboard millions to Bitcoin?
The end goal is to onboard to people to LN Wallets and such, but until then, this is the next best thing imo. The closest thing we have to this today is people using cash app, but even then, how many people USE the Bitcoin they bought?
Definitely not. This is a very realistic future.
If Bitcoin is the future of money, we have to USE it.