> Without state intervention, fiat currencies would be reacting to market forces just like Bitcoin.

True

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.

TechnicalDebt

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.

bitcoin

Does bitcoin have to 'go up' to be a good currency?

028559d218

> 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.