33 sats \ 9 replies \ @stack_harder OP 6 Nov \ parent \ on: How would you feel if btc was made a reserve asset? bitcoin
if the US gov made it a reserve asset, then people would still use fiat yes. same as they use fiat with gold being used as a reserve asset.
that's not the question tho. my question is , how would you feel if the gov did it, not should the gov do it.
as i understand, your feeling is that it would be a terrible thing, fair enough.
but it wouldn't change a person's ability to get into btc
How the fuck is "getting into btc" if they DO NOT OWN NOTHING?
As a "reserve asset" you own nothing, just a fucking IOU.
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darth , stop triggering yourself, gold is a reserve asset and people can still buy it RIGHT!!! So if btc was also used as a reserve asset people CAN STILL FUCKING OWN IT
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i was using gold as an example because it is both a reserve asset and it is something that individuals can hold and sell. this was in counter to darth's autistic hissy fit about not owing stuff.
also, while i don't own any, gold has not been useless as a means of protecting purchasing power, you can look at any fiat V dollar. you're as bad as people saying that btc has been useless. gold is also a bearer asset after all.
as for btc to replace fiat, i wasn't even talking about that. i was asking how people feel about it being used as a reserve asset. the question was not 'what is the true purpose of btc'
it's like you people can't read a question properly without spinning off into something else
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Tbh please STFU with the term "reserve asset", it sounds retarded af. The concept of a "reserve asset" is totally vestigial. FIAT MONEY IS NOT BACKED BY RESERVES. 1971. STOP SAYING NONSENSE WORDS, OK?
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I would reframe your question to how do you feel about governments, central banks, pension plans, corporations, etc. using bitcoin to try to keep themselves afloat while disparaging it?
You are already getting answers to your question. Please don't get angry at us just because you don't like the answers.
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im getting angry because of people projecting their own shite onto the question. i am fine either way, i actually don't mind the government using it as a reserve asset, in fact, i think it's inevitable.
i would rather people answer with their opinion but what happens is people like darth, start attacking me and projecting for asking a question, then you hop on and make a ton of presumptions.
you should have just answered:
'i hate it because it means central banks, pension plans, corporations, etc. will use bitcoin to try to keep themselves afloat while disparaging it'
simple as that.
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I am grateful for the mirroring.
What I miss in the conversation is a focus on the use as medium of exchange. Yes, the "reserve asset" is inevitable and will pump the price, sure, but if bitcoin is not adopted as MoE, then the "reserve" narrative is built on quicksand. Then, when the price crashes, they will attack us fiercely for it.
I prefer steady adoption and building on a solid foundation.
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.