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0 sats \ 1 reply \ @028559d218 OP 13 Nov \ parent \ on: Bitcoin as Global Property: TL;DR Bitcoin should be 400-600,000$ / Bitcoin Today bitcoin
I respectfully, completely disagree.
Don't let the perfect... be the enemy of the good.
Bitcoin is already, albeit slowly, demonitizing other assets and doing quite well.
Is it a MoE on a daily basis? No it isn't and I wish it were. But I believe it needs to be a store of value first then MoE. It is still undergoing price discovery (which could take a while) and that also needs to run its course.
In the meantime, use lightning, buy things with Bitcoin reasonably speaking when you can and enjoy being 'early' to a new technology that the vast majority of the world isn't using yet.
If the perception of Bitcoin as a speculative commodity is even further entrenched then it will be a small step to impose a ban on private custody and require only authorised institutions manage its custody.
Even if a ban is not imposed the effect will be the same- used as a speculative commodity by the majority of hodlers Bitcoin poses very little real threat to the fiat MoE monopoly.
MoE monopoly is the basis of fiat monetary power- take a look at SWIFT.
You have not thought through the vested interests of the fiat legacy system and how they have already shifted the narrative and gained control over the market.
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