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I can't say I agree 100% with your entire post, but you raise good issues that I sometimes have difficulty resolving, such as the hodl/spend paradox.
Thanks for a thoughtful write up.
I don't see the hodl/spend as a paradox. If we want that bitcoin is available to be used as a tool when we really need it, we need to start building stuff. There won't be stuff if people just stack and don't buy stuff with bitcoin.
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