The discussion around #Bitcoin as a Medium of Exchange has resurfaced again for the 10,000th time. Anytime on-chain fees spike, the MoE crowd comes out of the woodwork.
It's inconsequential IMO.
I never would have bought #Bitcoin if it were presented to me as a "more spendable" form of money because of speed, low fees, easier to make cross border payments, etc. I simply don't have any problems with the spend-ability of my money. I am not suggesting that there aren't millions of people who are looking for those attributes. But in the scheme of things, they are a tiny minority of the global population.
There are 150 or so fiat currencies in the world today. Most are only useful within the borders of the issuing country with the exception of the Dollar, Euro and the CNY. Despite the lack of global network effects for most of the currencies, the problems that people encounter with their local currencies is less often about speed, fees, risk of confiscation or spend -ability. The problem is almost always excessive money printing which debases (and debauches) the currency.
Working your whole life, only to have your life's energy stolen based on the decision of some unelected bureaucrats is indistinguishable from slavery IMO. We have the illusion of freedom in many parts of the world, but our life's energy is being stolen from us. We, as a species, cannot stand for that any longer. The solution to so many of the world's problems lies in our ability to collectively wrestle the control of money AWAY from the central banking cartel and restore it to the people via a decentralized form of hard money that they cannot stop. Bitcoin is the only tool that can free humanity from debt slavery because it is the only form of money that no one can stop.
Sorry, but your big block, blockchain with 5 data centers (cuz no pleb can afford to run a node) will be shut down by a government who feels threatened. But good luck shutting down Bitcoin.
Besides, how much of your net worth is sitting in your checking account? Speaking personally, it's less than 1%. I care a LOT more about ensuring that the 99% is crushing the inflation rate. When it comes to local currency, I don't give a damn about whether I need to swap some dollars or #BTC for Colombian Pesos when visiting Medellin, or Thai Bhat when I'm in Phuket, or Brazilian Reais when in Rio. It's inconsequential.
What appealed to me was Bitcoin's ability to not only remain resistant to inflation, but to action absorb fiat money printing and turn that into a huge financial benefit. When you own #Bitcoin , you're almost rooting for the Fed to continue printing money. You turn the source of pain into a profit. You take the weapon the bankers use to steal from you, into more purchasing power. This is a total game changer not just for me, but for everyone on the planet.
This is why Bitcoin is important. And there is no other technology that can do what Bitcoin does, better than BTC. It's the fastest horse in the race to beat inflation. There's a tsunami of fiat coming, and I for one, want to be protected.
The house is on fire, and Satoshi is offering us fire-insurance.
danieleripoll / Rip VanWinkle⚡️
npub13g0…vg79
2024-05-20 12:42:54
Author Public Key
npub13g07ylkcawqjdkwwzhzm8swdwzmnknqpeh2qejumrqzvv6njqtds8evg79Published at
2024-05-20 12:42:54Event JSON
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"content": "The discussion around #Bitcoin as a Medium of Exchange has resurfaced again for the 10,000th time. Anytime on-chain fees spike, the MoE crowd comes out of the woodwork. \n\nIt's inconsequential IMO. \n\nI never would have bought #Bitcoin if it were presented to me as a \"more spendable\" form of money because of speed, low fees, easier to make cross border payments, etc. I simply don't have any problems with the spend-ability of my money. I am not suggesting that there aren't millions of people who are looking for those attributes. But in the scheme of things, they are a tiny minority of the global population. \n\nThere are 150 or so fiat currencies in the world today. Most are only useful within the borders of the issuing country with the exception of the Dollar, Euro and the CNY. Despite the lack of global network effects for most of the currencies, the problems that people encounter with their local currencies is less often about speed, fees, risk of confiscation or spend -ability. The problem is almost always excessive money printing which debases (and debauches) the currency.\n\nWorking your whole life, only to have your life's energy stolen based on the decision of some unelected bureaucrats is indistinguishable from slavery IMO. We have the illusion of freedom in many parts of the world, but our life's energy is being stolen from us. We, as a species, cannot stand for that any longer. The solution to so many of the world's problems lies in our ability to collectively wrestle the control of money AWAY from the central banking cartel and restore it to the people via a decentralized form of hard money that they cannot stop. Bitcoin is the only tool that can free humanity from debt slavery because it is the only form of money that no one can stop. \n\nSorry, but your big block, blockchain with 5 data centers (cuz no pleb can afford to run a node) will be shut down by a government who feels threatened. But good luck shutting down Bitcoin. \n\nBesides, how much of your net worth is sitting in your checking account? Speaking personally, it's less than 1%. I care a LOT more about ensuring that the 99% is crushing the inflation rate. When it comes to local currency, I don't give a damn about whether I need to swap some dollars or #BTC for Colombian Pesos when visiting Medellin, or Thai Bhat when I'm in Phuket, or Brazilian Reais when in Rio. It's inconsequential. \n\nWhat appealed to me was Bitcoin's ability to not only remain resistant to inflation, but to action absorb fiat money printing and turn that into a huge financial benefit. When you own #Bitcoin , you're almost rooting for the Fed to continue printing money. You turn the source of pain into a profit. You take the weapon the bankers use to steal from you, into more purchasing power. This is a total game changer not just for me, but for everyone on the planet. \n\nThis is why Bitcoin is important. And there is no other technology that can do what Bitcoin does, better than BTC. It's the fastest horse in the race to beat inflation. There's a tsunami of fiat coming, and I for one, want to be protected. \n\nThe house is on fire, and Satoshi is offering us fire-insurance.",
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