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11 sats \ 1 reply \ @mallardshead 26 Jul 2023 \ on: The Future is now: Shitification of pizza. tech
The future of payments: biometric 👁️🗨️, requiring nothing. My Whole Foods just installed palm print readers. People love it. Apple with ApplePay is a walled garden. Most debit cards have NFC. CBDC's people will use faster than bitcoiner's ran to verify themselves for a blue check. Venmo, PayPal, now Twitter getting in on the payments game. It's really a fucking mess. Here's the thing though, all that convenience doesn't mean the underlying money being used is improving linearly with the convenience. So while they compete with one another for payments, bitcoin is happy to let them take larger steps away from its value proposition as both hard money, and as an open source global payment network. The bitcoin thesis will improve with fiat's slow debasements
people will use faster than bitcoiner's ran to verify themselves for a blue check.
So a concern i have is that the people with good judgement one can trust will eventually wittle down to so few, there won't be enough to restart civilization once this experiment with trusting others with your data goes wrong. The circle gets smaller and smaller as these obvious attacks are presented.
It may just be a guy who can code living under a tarp and another who can bake bread and a few women in a coma on life support popping out babies. /s
The bitcoin thesis will improve with fiat's slow debasements
Bitcoin has gotten better as fiat has gotten worse, i agree. The Austrian principals are strong with Bitcoin. History shows that fiat currencies eventually devalue.
#BUT
We are in the digital age. A new age unlike any other. CBDC's are a new solution for a new age. They present a solution alongside technologies that did not exist in roman times or in the weimar republic; supply creation/destruction,insurance and digital fiat. The state is internationaly coordinating creation/destruction of the money, commodities (food,oil,silver,gold) in real time in response to real signals a few days if not hours old.
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