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If people started using silver coins as a 'medium of exchange'... and silver was 'adopted' as a reserve currency... What would happen to the price of silver?
It would 'go up' and a lot... and the Silver hoarding and trading would commence.
See the issue?
Now pretend a group of people did elect to use silver (ie silver coins) as a day to day 'currency'...
Is it still shiny metal? Is it still a commodity? Yes and Yes?
So it's a 'commodity-money' not necessarily a currency. Now pretend that silver was fixed in supply and also digital... what what it be worth as a store of value?
If everyone 'adopted it' for the world's currency the value of it would explode, hoarding would commence, it would be a massive store of value, and eventually people would spend it but provided all of those things had happened people would spend their worthless paper money first.
What if silver was adopted to stop the Bankers from debasing savings with their bank fiat currency, how is hoarding silver so you can use the debasing currency any solution to the problem?
It's literal self-enslavement in some sort of deferred life hypothesis.
The silver is not the wealth indicator. It's roads, hospitals, railways, more happy marriages, more children, going back to the moon, etc and these cannot happen if you remain on a fiat currency standard even if you worship your silver hoard for that "eventual liberation" when it is "high enough".
You're trying to imagine the world the way you 'want it to be' not the way it is.
People dump the money they think is losing value the fastest.
Bitcoin has a long, long way to go before it's understood even as a 'store of value'...
99% of people have no real idea what Bitcoin is, they don't know how to accept it they have no idea what a wallet is, they don't know how to 'transact' and 99.9% even those 'financially savvy' have never heard of Lightning.
The 'adoption' imo will happen eventually but people on Stacker News are 1% of 1% of people.
I agree but my point is this idea of dumping to switch to a new money is an idea from this world of fiat. It doesn't reflect positive monetary innovation.
So dump Venezuelan cash for USD to Dump USD for BTC but why were you holding the inferior money in the first place?
Saylor is now giving people a chance to hold his company's cash and not Bitcoin.
Wonder when they'll dump it for BTC, when Bitcoin has advanced even more and catching up is so hard? I guess.
That's why in the OP I wondered out loud when we shall have a true Bitcoin company.
FYI, they're all doing this now. XXL, Gemini, its the game.
Strategy is just the fearless leader at the head of this run.
Oh well, I guess it's the nature of the times.
It will be fun, at the very least. Adrenaline pumping.
No boredom in store.
I hope he is so he can try to answer for when his shenanigans will end.
I want to know his actual plan, the one grounded in real engineering principles and not that rocket engine I saw (looked cool, but I'm not here for fads). Don't give two sats for his private thoughts.
What is he selling the investors anyway? Really? Multisig on the coins?
To what end? Hodl to the 4th generation?
I want some real hope and I cant bear to watch any more of "you will be paid forever better than people with jobs because we bought Bitcoin with your investment".
"Also, Bitcoin is not money/currency"
He actually believes this. I wonder why. Are we on different planes of thought right now?
Or does he think humans love 1s and 0s that much?