arthurfranca4d agoThis npub is over the top for being anon but this thought bizarrely aligns with what i've been thinking lately (I wouldn't pick electricity though). Maybe he's the genius he says he is hehe
I'll add that bitcoin (lightning in fact) for its huge network effect is a great bridge to get off of fiat because it kills the "Chargeback Monster". But you alway can (and need to) get off of bitcoin back to fiat, and that's what makes it forever volatile. Governments will never let us use solely bitcoin everywhere, like 1 sat will cost 1 sat.. no, 1 sat will most likely forever cost a dynamic USD (or other stable currency of the moment) value. It's very hard to justify betting your future in the stack sats NGU mindset. It's purely betting. [And at this exact part I lose half of my followers ^^]
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Dissident Sound4d agofor investment purposes the problem with bitcoin is that it doesn't hold a monopoly like US dollar does
you can ONLY pay taxes in US using dollars
you also can only buy oil in US dollars or you get bombed
but literally NOTHING prevents somebody from using a random shitcoin in place of BTC
so called "Dedollarization" that Putin likes to talk about is a real threat to the dollar and by the same token Cryptos should be considered a threat to Bitcoin and in both cases the only answer to these threats is going deeper into denial
US dollar doesn't need to be backed by anything because it's a monopoly
the digital money we need can't be a monopoly or it won't be freedom tech
if it can't be a monopoly then it must be backed by something in the real world
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0000 sats
arthurfranca3d agoIt would be interesting to read a contrary opinion, although unlikely.
A curious fact: I was just browsing the cashu repo and read a comment suggesting that in the future they may have to represent amounts in nanosats instead of millisats (which is already a unit 1000x smaller than what is officially considered the smallest unit of bitcoin) as if the price of bitcoin was going to rise to the moon.
Dishonesty or pipe dream?
0000 sats