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7 sats \ 2 replies \ @kepford OP 24 Apr \ parent \ on: Bitcoin is Digital Gold! This isn't Wrong: Its like a DIGITAL Gold bitcoin
Why did I suggest you might be a troll. Stuff like this.
Kepford ignores how the Bitcoin as Gold narrative encourages use of Bitcoin as a speculative commodity and discourages use as a MoE. Kepford cannot see how a world where Bitcoin is mostly used as a speculative commodity tracked and traced and taxed substantially reduces the threat it poses to fiat as fiats power comes primarily from its state backed monopoly over MoE.
I ignore this? I literally describe what people think of when they compare bitcoin to gold. I then go on to explain why their view of gold is wrong. Then I say this
My belief is that people that think bitcoin is only a viable store of value don't really understand bitcoin.
I'm not ignoring anything. You seem to either not comprehend what I write or just don't read it.
I go on to say
So what am I saying? Bitcoin isn't digital gold but its a good analog. If you could make gold digital is would be great money. Bitcoin is a great store of value for the same reasons gold has been. Bitcoin however can be sent across great distances with ease and at the same time it can be stored for long periods of time at low cost. It is better than gold in both ways.
I then literally say what you say I'm ignoring.
It is better than gold in both ways. As a store of value and medium of exchange. I can't send an oz of gold across the globe in seconds. I can't validate the authenticity of my gold with a simple computer.
Yes the state is going to try to keep their monopoly on MoE as long as they can. That's not what this post is about. Its about gold and how it was once a MoE and why it isn't any longer. And also why bitcoin is like a digital gold. One that doesn't have the same weakness that led to gold being only a SoV.
Does that make sense? I think we mostly agree and you just want to argue. LOL.
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0 sats \ 1 reply \ @Solomonsatoshi 24 Apr
I agree you have addressed some of the issues and I may have missed some and more responded to the name calling as tends to happen when name calling starts and reasoned dialogue suffers as a result.
It is probably more a question of emphasis that is the issue for me.
I prefer to emphasize the risk involved in the 'bitcoin as digital gold' narrative- the risk that people do not see where the real power and importance of Bitcoin is- as an alternative to the nation states monopoly over money and our MoE.
I believe that is a real risk- as I acknowledged at the start- sure you can say Bitcoin is digital gold and that is not untrue- but what I want to emphasize is that the digital gold narrative plays into a perception of Bitcoin that enables capture by bankers and governments by reducing the awareness and emphasis on P2P payments.
P2P payments is where we are going to have to fight to gain the right to use Bitcoin.
It is already quasi banned in most 'liberal' western democracies - How many p2p LN payments do I make that are legally compliant? Almost NONE -certainly not when I zap or by a coffee or kebab at a LN accepting merchant (which I do often as I can!) - because the law is such a fucking ass and requires unreasonable and extraordinary recording and reporting obligations. Most people however are not wanting to expose themselves to such risk. They do not see the right to use Bitcoin as a MoE as such an important issue. They blindly accept the state banker monopoly over MoE. I do not take law breaking lightly either- it is only where the law is obviously and extremely unjust that I believe it is sometimes justified.
How do we remove such unreasonable and undue obligations that have been imposed on all Bitcoiners wishing to use Bitcoin as a MoE?
Not by ignoring the problem.
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21 sats \ 0 replies \ @kepford OP 24 Apr
We fight back by using the tech. Using it as a MoE. Doing what I can on that front.
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