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61 sats \ 45 replies \ @Undisciplined 19 Dec \ parent \ on: Barber Shop Bitcoin Babble bitcoin
I mean that bitcoin does many valuable things.
Some people will primarily value it as a great savings technology (even if they're thinking of it as a speculative vehicle), while some of us are here for the revolutionary effect it's going to have on the world.
OK.
This remind me of why I wrote this guide... about 5 stages.
https://darth-coin.github.io/beginner/5-stages-became-bitcoiner-en.html
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I think many people will be perfectly happy staying on step one, but, as you note, that's the hardest step.
Most people aren't passionate about their principles. They just want to keep what they've earned.
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You could also say the fear motivates a lot of people to try to keep what they have and not lose it. However, they don’t fear enough, IMHO. It is the platforms, exchanges and FTXs of the world that are ripping them new ones. If they held it themselves they would do better with less fear, I think.
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They just want to keep what they've earned.
What they really earned if their mind is only fixated on fiat gains?
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Fair enough. I think of it as keeping what they've earned, because I think of bitcoin as money. They are probably thinking of it as a speculative investment, though, and therefore seeking gains.
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It looks like you may be right. They are still in the fiat set of mind.
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self custody
run a node
use lightning and liquid
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I suspect the first two will always be unusual, but most people will use L2's for daily transactions.
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I think we went through this a week or so ago, BTC has both SOV and MOE properties. It is useful in many ways besides making a profit, in terms of fiat.
I notice that it is also a great ego booster for those that had the foresight to get in early.
I notice that it is also a great ego booster for those that had the foresight to get in early.
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It's hard to put a price on the smug sense of self satisfaction.
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Yes, I guess it is priceless! Just wish I had that feeling.
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one million dollars!
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Hardly
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Shallow
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Early is relative, no?
Many folks here are 'early' and and are 'in profit' - 'deep in the green' as the traders say.
The problem of course is... what do you trade out to? Paper money? Why?
That would be nuts.
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Commodity traders usually say, “Deep in the money.” Not green.
You trade out to goods and services by using BTC as MoE.
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I agree. BTC directly to goods and services.
BTC exchanged for paper money... to spend on goods and services is a scam in most cases in my opinion.
Having said that, the etfs do not allow for spending on 'goods and services' not really.
And people need more education before they are ready/educated enough to spend on goods and services. A large number of people (strangely) think Bitcoin is a scam, a 'crypto' thing they don't understand you can actually send and receive bitcoin.
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Why are you in an ETF? You can self-hodl and not have to worry about all the problems with platforms and exchanges.
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I'm not actually. But the 'barber shop' conversation has given rise to this conversation....
And it seems to me that the vast majority of the barber shop people have been given access to a technology that they absolutely do not understand. They have actually never used it (not really)
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Why should they? They have their brokers and advisors to take their slice in commissions. You will notice, however, they never take a slice of the losses!!
Early is before most people get in, because most people will get in eventually.
You trade for goods and services that you use. That's the entire point of money.
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People don't see it that way.
Especially if they use ETFs.
They trade out to... dollars and paper money.
Trading for goods and services requires sending and receiving to addresses, or at least the remedial use of lightning.
Which ETF users don't actually know exist.
On top of that, most government policy disincentivizes spending directly on goods and services... because that would remove the need for fiat to begin with.
Today total Bitcoin adoption is something like... 1%? maybe much, much less? Are we 'early'?
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Yes, we are early adopters, not innovators. Folks like @DarthCoin are the innovators that got in near the true bottom.
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Bitcoin in total is a... 130 year experiment. from 2009 to ~ 2140. About 130 years.
Next year will be about 16 years.
So that's about 12% through (counting next year). We're in total 12% into the Bitcoin experiment at 16 years (next year).
I think that provides important context.
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Why do you say a 130 year experiment?
Are you saying that FRN were an experiment rather than a control collar for the slaves?
What about the long running money called gold?