pull down to refresh
84 sats \ 0 replies \ @SatoshiNakanodo 23 Apr 2023 \ on: Spending Bitcoin - A Weekend Discussion bitcoin
I don’t know if it was Carl Menger or someone else who pointed out the four steps to becoming “money” but I believe Bitcoin will need to follow this path on its way to becoming a widely accepted currency. That is it will need to be 1) collectible, then 2) a store of value, 3) a medium of exchange, and finally 4) a unit of account.
So the sentiment among our forum here that Bitcoiners will need to move onward from 2) HODLing to 3) exchanging would seem to be correct.
Those of us who are having this discussion are the ones to light the path ahead. But we need to be aware and understand that this progression–like all social movements–cannot be forced.
Bitcoin will become money as water finds its way down from the mountains. Use it, share it with others, respect it. But in general, just get out of its fucking way.