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1074 sats \ 34 replies \ @SpaceHodler 13h \ on: Paolo Ardoino On Why Tether Is Necessary bitcoin
Tether is consolidating fiat economic value into the USD, which some argue is the first step in killing fiat.
They will buy it. It will be expensive (e.g. a sat for a house), but it's infinitely divisible.
Tether is consolidating fiat economic value into the USD, which some argue is the first step in killing fiat.
Agreed. In order to arrive at hyperbitcoinization, we must first pass thru hyperdollarization. That is most / all shitcoin currencies need to collapse into the dollar.
Once most nations face the destruction of their national currency and are exposed as being 100% economic vassal states, that is what creates the unified push for a "uncontrolled 3rd party currency".
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😂😂😂
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But spitting that commie bullshit will not be the solution.
The solution is simple: just don't use anymore fiat. Only Bitcoin.
Bitcoinization doesn't come in few days, it's a long process, of education, testing, building.
And btw...
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Nope we are not the same... that process it doesn't involve another crap like tether (Corporate Backed Digital Currency). That will be going back to fiat.
hyperdollarization = the most moronic thing
In order to arrive at hyperbitcoinization, we must first pass thru hyperdollarization. That is most / all shitcoin currencies need to collapse into the dollar.
Not an economist but this sounds like Marxist dialectical determinism. I don't buy it.
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Not everything is a conspiracy. Just because some groups can foresee how macro situations playout doesn't mean that they "control" those situations. They are simply moving towards where the ball will be....
It is in the US interest that stablecoins go 10x. Check out this chart and it will explain it better...
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Makes sense that stable coins are big buyers of USA bonds
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In order to arrive at hyperbitcoinization, we must first pass thru hyperdollarization
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I don't know. Strengthening and consolidating the most powerful fiat currency to kill it? It sounds like a long way to go to justify a strictly NGU mindset.
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You strengthen the most powerful fiat to kill all the other fiats.
What do you think happens after all the global fiats but one are dead? Do you really think China is going to just use Tethers?
They'll use the free-floating currency, Bitcoin.
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It's a theory I haven't given much thought to, probably because it seems illogical on its face to me. I'll think about it. Let me ask you- do you therefore embrace the whole Saylor/etf thing to get to this end, regardless of your commitment to self custody?
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It's unintuitive because other fiats more fictional than the dollar and the processes is therefore non-linear
The dollar is less of a fugazi than others because the world's debt is denominated in it, making it the world reserve while other fiats are basically vanity tokens
Now project out to a world where Bitcoin is the world reserve currency, what had to happen between the former and latter state?
Fiats would fall like dominoes, not all in one-shot, so it stands to reason there would always be a "last" fiat. Obviously the last fiat would be the strongest, thus dollarization is expediting us to that state.
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I do understand what you're saying. It is a logical progression.
But it also rubs me the wrong way. Similar to the view that we need SoV first, and MoE will follow as a result.
I feel like these are all just excuses for Bitcoiners to not try.... not revolt. To be lazy.
The tech is ready. With Lightning and Fedimint..... we can build global Bitcoin economies NOW. What's this obsession Bitcoiners have with supporting the dollar? It's time to end this fiat-brained bullshit that's crept into Bitcoin.
I agree with @DarthCoin 's comments here. Your logic is sound.... IF we are okay with being lazy and don't give a shit about the virtues in @Svetski 's book.
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What's this obsession Bitcoiners have with supporting the dollar?
There are 2 basic conversations happening here:
Group 1: We want everyone to use bitcoin and we want that NOW
Group 2: Yes, I agree....but the market hasn't chosen that yet, hardly anyone is buying anything with it.....so we have to live within the limits of reality as we find it.
Group 1: Well then you're an asshole who supports fiat!
Group 2: ok.....
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Bitcoin adoption comes from the bottom, not from the top macrobullshit economies.
When all mom&pop shops, small merchants, small producers will sell their products and services for Bitcoin, slowly creating a PARALLEL economy using Bitcoin.
The only way forward is to get the fuck out from this system, not sustaining it as long is possible. DON'T BE A FUCKING PUSSY AND USE THAT DAMN BITCOIN WALLET.
Forget about waiting until your crap politician will make some bullshit paper saying that now you can trade with bitcoin, or a fucking Saylor or Tether mogul saying that you can use Bitcoin by putting it into a bullshit reserve and they will give to use a fucking token named tether. That's the old trick the banksters will use again and again on you.
FUCK'EM'ALL use only bitcoin.
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I would posit that the reason "hardly anyone is buying anything with it" is because of the same complacency and laziness that makes the original argument (dollar-milkshake-theory) compelling to Group 2 to begin with.
If we decided to stop being lazy, stop using fiat, only patronize Bitcoin-accepting merchants, and move to Bitcoin-accepting jurisdictions.... the pressure would start to build against fiat. Globally, we ARE a large enough group to make a difference. The problem is, we are very spread out, so we feel like minorities in our local community. But we are not a global minority. We can do 100x more than we currently are. We're just not doing much. The devs are doing the hard work, giving us the tools we need... and we're choosing NOT to support them... not to use those tools.... to support NGU only.
EDIT: I'm generalizing Bitcoiners with my comment above. Many ARE doing a lot. Many have moved to El Salvador. Many do run their own Lightning nodes and frequently use BTCmap.org. But I'd say 90% don't. It's up to the 10% of us who are doing those thing, to also demand more from the other 90%. To lead by example. To stop using fiat.
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Many have moved to El Salvador.
I don't. But I am still running multiple nodes and I onboarded enough merchants around me so I can live peacefully on Bitcoin standard.
(Bitcoin standard it means as you said, paying and being paid in bitcoin directly and NOT using those damn shit visa cards)
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Yea, exactly.
This is the point I'm trying to make in this thread. DarthCoin is doing the bare minimum. People act like he's extreme. But he's just doing the basic stuff, and living what he preaches.
The Revolutionary War was fought over similar monetary enslavement stuff. Those muthafuckas literally went to war to get off the King's money. Bitcoiners here can't even be bothered to run a damn Lightning node.
The lack of doing even the simplest things is why I'm so frustrated. We don't have to go to all out kinetic war, but FFS can we do a little more than what we've been doing lately? Can we at the bare minimum stop acting like using dollars is innocent?! Stop acting like Tether is A-Okay? Can we stop this fucking madness and get back to overthrowing fiat instead of supporting it?!
BCH and XMR bros are doing 10x more toward those goals then Bitcoiners are in 2025. And we should be ashamed.
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I think that's my problem.... Bitcoiners aren't even grabbing the low-hanging fruit. Maybe full blown, kinetic revolution is too much to ask.... but can we start demanding that we start doing the easy stuff?
But what about simply patronizing merchants accepting Bitcoin and trying our hardest not to use fiat unless necessary? For example, on BTCmap.org, there is only one restaurant in my large US city accepting Bitcoin. EVERY Bitcoiner in a 20 mile radius should simply REFUSE to go out to eat anywhere else. That restaurant should be swarming with Bitcoiners. But it's not. When we have our monthly Bitcoin meetup at said restaurant, not even the hardcore Bitcoiners there are paying with Bitcoin. Even they take out their fiat plastic to pay. It is shameful.
How many Bitcoiners make regular purchases from merchants on Oshi.tech or Airbtc.com?
In large cities, Bitcoiners could come together to approach local farms/ranches to source produce, dairy, meats. When a large enough group promises they will go direct to source, instead of going to their local grocery store, you can bet the farmers/ranchers will learn how to use Bitcoin.
There's just no urgency in the community to use Bitcoin as a MoE. This strengthens the dollar. Bitcoiners are a bunch of Stockholm Syndrome survivors. They can't seem to understand how bad and dangerous the dollar is, and that its short-term convenience should not be the reason we use it instead of Bitcoin whenever possible.
We should stop paying with our credit cards in Bitcoin meetups
but it's infinitely divisible.
You mean Bitcoin is? If so you're incorrect... Bitcoin is not divisible at all, which is why Austrians and an-caps think it can't work because of their appeals to Mises authority, who said money has to be divisible.
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