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Its money.. But its the most volatile money I've ever seen
Depends on your point of view. It’s not volatile for people living in Bitcoin circular economies, because having goods and services priced in sats at the very least places some inertia on volatility.
Many like to proclaim they are living in the Bitcoin standard because they can pay of their coffee using sats because of square or whatever, but in reality they are still living in the fiat standard, spending fiat denominated fractions of Bitcoin is not, IMO, “living the bitcoin standard”.
Same logic applies for fiat denominated BTC salaries, nothing more than a pair of bitcoiners settling fiat prices using BTC as a payment network, not as money.
I know there are legitimate reasons for all of this, the square merchants couldn’t care less about your bytecoins, the worker has to pay fiat denominated rent, utilities and groceries etc.
Though on that note, some would argue that “real bitcoiners” should be willing to absorb the opportunity costs when it comes to online services at least, ignoring the fact that running a server is most likely to have fiat denominated costs.
It’s not easy or quick to transition currencies without some central planner forcing everyone’s hands into unfair transactions, see how the Brazilian Real came to be.
proclaim they are living in the Bitcoin standard because they can pay of their coffee using sats because of square or whatever, but in reality they are still living in the fiat standard, spending fiat denominated fractions of Bitcoin
Its really difficult for 99.9% of people to live on a bitcoin standard, its almost impossible to be 100% the fact people can use bitcoin at all to pay for things... Still amazes me.
IMO the best thing we can do is go use bitcoin, the more we use and embrace it the more normalized using it becomes.
It’s not volatile for people living in Bitcoin circular economies, because having goods and services priced in sats at the very least places some inertia on volatility
Maybe so, but this would be very difficult today to achieve at any scale with so much volatility.
Difficult, but not impossible. You can already find circular economies sprinkled around places where fiat has met its ultimate demise.
I don’t think these people care to compare Bitcoin with their failed state issued colored paper anymore.
So again, volatility against what? Dollar price is volatile against gold, but not many people put it that way… somehow dollar is still seen as a a stable currency.
Without state intervention, fiat currencies would be reacting to market forces just like Bitcoin. This kind of perceived stability is most likely only possible under coercion.
Without state intervention, fiat currencies would be reacting to market forces just like Bitcoin.
True
Why are you worried about taxes if bitcoin isn't a currency, it's money? It's easy to use and always will be, regardless of the price. Now, if by "easy" you mean the number of people using and accepting it, the more people use it, the more valuable each sat will be, and the "easier" it will be to find someone who accepts it as a form of payment.
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