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TheRamblingThoughts: Unit of account and you've probably already won
853 sats \ 7 comments \ @TheWildHustle 15 Dec BooksAndArticles
Bitcoin is a medium of exchange, store of value, and unit of account. The unit of account piece really throws people through a loop.
Freaks say, but its too volatile, mimicking the financial advisors of yesteryear, not acknowledging the evident decay of their trusty accounting method, the method that dilutes your reality with the notion of inflation vs deflation. We live in a deflationary world, its only inflationary if your accounting metric sucks. If your not using bitcoin as a method to view prices, your method of viewing prices has been skewed, and skewed on purpose.
What's really interesting is how, our unit of measurement is exactly backwards. The fiat way of viewing finances is 180 degrees away from the reality of sound money price deflation that bitcoin brings. And at this point I would say that it is unstoppable. if your stacking bitcoin but pricing it in dollars and making dollar type moves, your stack will diminish due to your own inability to adapt. You'll give in to leverage schemes and strange loans, your attitude towards risk and gain will be off kilter. In a lot of cases people will fail to realize that they've already won, and now they just need to pull a satoshi, leave their life stacking to go on and do other things. We've been conditioned to be on a hamster wheel where we need to constantly think about growing our money at all cost and no matter how much we stack it will never be enough. I find bitcoin to be the exact opposite, where at some point, you might have stacked too much, you might find yourself with wealth so large that it breaks your mind, it might enlarge your ego, destroy your family. This sounds suspiciously like absolute power corrupts absolutely, which is something that I've become a bit more awry of, but to a certain extent......how much is enough anon? At what point does the ring of power consume you.
In conclusion "God Candle Approacheth" staying humble and stacking sats, while accounting for your stack in dollars, will give those freaks a rush of exhilaration unlike any they've likely had before. They will be awash in fortunes gained through the lazy doubt of haters, they will be vindicated and in most cases the fortune that they earned will be just and because they followed truth and because they had discipline and foresight and sugar and spice, and everything nice. The acceleration from lower middle class to top 1% will be a whiplash strong enough to sway the humbleness of most men.
In conclusion again (and hopefully this is the last one) Use bitcoin as a unit of account. You likely have already won the game. Stay humble and brace for impact on the moon.
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30 sats \ 0 replies \ @Rothbardian_fanatic 15 Dec
Using BTC as the unit of accounting is the same as using any other stable thing as a unit of measure. For instance, an ounce of gold is an ounce of gold now, before and forever! The same with an ounce of silver. In terms of an ounce of gold you could by a nice bespoke suit and all the accoutrements, right now. In the times of the Roman Empire an ounce of gold could by the nicely tailored toga and all the accoutrements. What you could get now and what you could get then are the same in terms of a stable commodity. BTC is a stable commodity, whereas fiat is a diminishing promise.
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53 sats \ 0 replies \ @DarthCoin 15 Dec
This is how I use it.
Most of people still do not understand that without earning in sats, you cannot think how to price things in sats. You start by evaluating your work / labor / effort / energy consumed in sats. From there you build up the price you pay for things you need for doing your work.
But we are living in a world dominated by fiat maxis, that sees in Bitcoin only fiat gains.
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20 sats \ 0 replies \ @cryotosensei 15 Dec
leave their life stacking to go on and do other things.
I think this is the crux of it. We need to articulate clearly to ourselves what other things we would rather do if Bitcoin were to get us there. As you said, no point stacking n stacking n feeling like you never have enough. That’s not living life
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0 sats \ 0 replies \ @BallLightning 15 Dec
You can't really use bitcoin as unit of account, until things you buy start being priced in sats. Up until now the only thing I have seen priced in sats was the defunct wallet mutiny's mutiny plus subscription.
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0 sats \ 2 replies \ @Solomonsatoshi 15 Dec
Very optimistic and perhaps naive. Do you honestly believe that the fiat debt slavery bankers cartel that owns your government will surrender its global monetary hegemony so passively?
No- they have already positioned Bitcoin for a GREAT FALL. They have already comprehensively, slyly and successfully obstructed use of Bitcoin as a MoE. They have allowed its use as a speculative commodity- in the process capturing ownership data via KYC and accruing over 10% of the entire Bitcoin issuance into the institutional custody of COINBASE.
The FDSBC is not sitting on its hands- it has already gained control of the Narrative- resulting in almost all hodlers speculating on what they perceive as a commodity- a taxed, KYCed and increasingly held in institutional custody.
As long as BTC is not used for MoE- P2P Payments- the FDSBC does give a fuck as its MoE hegemony is safe and secure.
Yes they control how we all interact in the exchange of our labour and goods and service by controlling the MoE...via the monopoly fiat money enjoys in MoE. They dont care if BTC is used as another speculative commodity- that only makes it easier for them to capture and control. And they have.
You think you are winning because price goes up-think again- its all part of their strategy to capture and control BTC by redefining its use as a harmless speculative commodity.
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41 sats \ 1 reply \ @ChrisS 15 Dec
I use bitcoin as medium of exchange every day. Nothing is obstructed.
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0 sats \ 0 replies \ @Solomonsatoshi 15 Dec
So do you comply with tax obligations to record what capital gains you made on the disposal of your BTC every time you spend it? The tax reporting requirements make use of Bitcoin as a MoE impractical unless you ignore them, and then you are a tax evader.
If you are a business and want to accept BTC on the other hand you risk your bank closing your access to fiat banking. The number of consumers prepared and willing to ignore tax laws to spend Bitcoin is so small why would any rational business then risk debanking to reach such a small customer base? They wouldn't and they don't.
The combination of tax requirements on consumers and the risk of debanking has absolutely obstructed and prevented the use of Bitcoin as a MoE payments protocol.
You may still be able to use it as a MoE on SNs but where else can you use it and where else does anyone else use it? Bitcoin is not generally used as a MoE - it is almost exclusively used as a speculative commodity...because that usage is being allowed while MoE is being slyly but comprehensively, obstructed.
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