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200 sats \ 2 replies \ @cryotosensei 18 Oct 2023 \ parent \ on: _Broken Money_ book club, part 2 bitcoin
I think that as much as we would like to think of BTC as an independent entity, it is not entirely uncoupled from conventional assets at this point in time. Hence, if something devastating were to happen to the macroeconomic environment, traditional assets like stocks will take a hit, and along with it, Bitcoin. A price drop in Bitcoin will not necessarily mean that people are losing faith in this trustless digital money.
Also, this year, something just clicked in my mind - and I want to live the Bitcoin Standard as some Stackers do here. It will be a tall order for me because I am based in Asia and can’t receive my salary in BTC as of now. But selling fiat to buy BTC is such a worthy ideal to work towards, so I will start my journey by buying gift cards from Bitrefill. I guess what I want to say is that if we spend sats to save spend invest share in our everyday lives, we then remove ourselves from the clutches of the fiat system and have no reason to be bothered by any price implosion of Bitcoin xP
I guess what I want to say is that if we spend sats to save spend invest share in our everyday lives, we then remove ourselves from the clutches of the fiat system and have no reason to be bothered by any price implosion of Bitcoin xP
And yet that decision -- to dive more deeply into a btc economy -- is still a function of believing that it's a sensible thing to do, which in turn is based on a host of factors. But it's not like believing in the laws of physics, right? Or do you think that it is? Is it a pure determinism play for you?
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Great question! I don’t think it’s like believing in the laws of physics - those are immutable. Whereas the blockchain technology governing Bitcoin is cast in stone and won’t mutate and throw curveballs at us Bitcoiners, diving deeper into a BTC economy requires a leap of faith. Things like trust in my ability to get paid in Bitcoin, trust that the merchants who accept Bitcoin payments will only increase with time (Thank you, Ferrari!) etc. but I think it’s about making a choice at the end of the day. Once we decide to live the Bitcoin Standard with conviction, we are determined to overcome all challenges associated with it, come hell or high water
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