70 sats \ 2 replies \ @0xBTC OP 13 Jul 2023 \ parent \ on: Opinion: Why BTC can't become the reserve currency bitcoin
I totally understand what you are trying to say, but it seems that in this world, only things that are needed will survive. I understand that the invisible hand has its place, but humans are not robots, they want to be able to spend their money right then and there, and BTC discourages that.
It may take a generational shift in culture to shake this out of people, but most people can't even afford an emergency fund let alone make good financial decisions about frivolous goods. I agree in theory, but in practice it is much harder to see it happening.
I think people with bad spending habits would learn wuickly. Also banks will be much more reticent to give out loans since they can just get the return from holding btc. Meaning to actually qualify for a house you need to actually have your shit together which would have let us avoid the 2008 crisis and subsequent printing
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It took about one year as a bitcoiner for this mentality to be shaken out of me, and I went from no emergency fund to a modest one in the process. It may take less time than you think.
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