that was interesting and here is my main thought about it:
the thing is, as best as i currently understand, bitcoin only goes up for two reasons:
people buy more of it, or, there's an increased demand for it.
but my main problems with this, are as follows
- cbdc is emminent, and when that occurs it will change a lot. stay with me a sec.
- when people globally "hypothetically" want to use bitcoin, but cant get any, how does that help any of them? are we hypothesizing that the entire world, is just going to use whatever liuidity is in the lightning network. and adjust the price of everything, based on an ever changing metric of how many scraps are in the digital bucket?
-are we to assume that bitcoin will only be valuable because if the holders of it are the only ones who can get it, in a post cbdc economy, this somehow makes the people holding it more useful, or more valuable somehow?
-on the last point, i would argue that it doesn't make those people more useful, primarily because human nature is such that people are greedy, and only self serving, MOSTLY and by most i mean about 90% of the global population. so you have people who cannot afford to buy food, because they are having cbdc, and their money got turned off, expired, or they went outside of their 15 minute city, or they lost too many social credit points , or what have you. and they need bitcoin to buy food and pay rent? how is this fair or even possibly imaginable, in anyones wildest dreams? it simply wouldn't take. they'd be rioting in the streets, for bitcoin to increase the market cap, so they could have a chance at having some money. even with all the halving, which just eventually brings it mathematically close to error divide by zero, there still wouldn't be enough to satisfy global liquidity needs, based on how people currently live.
where i'm going with this, is while bitcoin is a nice idea, and has a lot of cool things about it, i dont think in my wildest dreams as its presently configured, that it would *ever* satisfy the requirements for a global currency.
not today, not tomorrow, not next year. simply put, never.
and i do realize most of the things i mentioned above are largely left -out- of all the popular hype and books and stuff, unless i've missed these details.
thoughts welcome.
ringo /
npub13r5…tqd7
2023-03-15 08:36:58
Author Public Key
npub13r5ny6sc2jyqwfyququr62tg7lp0r0rnaaadnxvlgqz9nt7q20wqq3tqd7Published at
2023-03-15 08:36:58Event JSON
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"content": "that was interesting and here is my main thought about it:\nthe thing is, as best as i currently understand, bitcoin only goes up for two reasons:\npeople buy more of it, or, there's an increased demand for it.\n\nbut my main problems with this, are as follows\n\n- cbdc is emminent, and when that occurs it will change a lot. stay with me a sec.\n- when people globally \"hypothetically\" want to use bitcoin, but cant get any, how does that help any of them? are we hypothesizing that the entire world, is just going to use whatever liuidity is in the lightning network. and adjust the price of everything, based on an ever changing metric of how many scraps are in the digital bucket?\n-are we to assume that bitcoin will only be valuable because if the holders of it are the only ones who can get it, in a post cbdc economy, this somehow makes the people holding it more useful, or more valuable somehow? \n-on the last point, i would argue that it doesn't make those people more useful, primarily because human nature is such that people are greedy, and only self serving, MOSTLY and by most i mean about 90% of the global population. so you have people who cannot afford to buy food, because they are having cbdc, and their money got turned off, expired, or they went outside of their 15 minute city, or they lost too many social credit points , or what have you. and they need bitcoin to buy food and pay rent? how is this fair or even possibly imaginable, in anyones wildest dreams? it simply wouldn't take. they'd be rioting in the streets, for bitcoin to increase the market cap, so they could have a chance at having some money. even with all the halving, which just eventually brings it mathematically close to error divide by zero, there still wouldn't be enough to satisfy global liquidity needs, based on how people currently live.\n\nwhere i'm going with this, is while bitcoin is a nice idea, and has a lot of cool things about it, i dont think in my wildest dreams as its presently configured, that it would *ever* satisfy the requirements for a global currency.\n\nnot today, not tomorrow, not next year. simply put, never.\n\nand i do realize most of the things i mentioned above are largely left -out- of all the popular hype and books and stuff, unless i've missed these details.\n\nthoughts welcome.",
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