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101 sats \ 6 replies \ @Lumor 12 May \ on: Maxis lost the plot bitcoin
Not all maxis are NgU-fanatics.
Wrong, Bitcoin is money... Money = ngu
If you're not for ngu you're a jpeg hoarding shitcoiner
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Jumping in there just to say that "NgU fanatics" means hodling the sats as there was no tomorrow and never using them in the fkng real life.
People do not use bitcoin to pay for stuff, which is very very very very dangerous for our industry. Do you think that merchants all of a sudden will start accepting bitcoin just because we hang about saying that is good money? Bitcoin is good money, but not anyone gets that, and if the farmer that should sell you the meat is not getting the Bitcoin gist, then no meat for you mate.
Financial-bitcoin is liquid, very liquid. Huge volumes for that potentially, so the bag holders can sell their damn KYC bitcoin to ETFs and back.
But real-life-economy-bitcoin? Is it liquid enough? Will I be able to pay for a pizza, hotel, groceries with bitcoin in 2030? Will I be able to actually spend my good, very good money in the future?
So yeah, NgU is inscribed in the idea of money, but let's not forget that money eventually needs to be spent. If you can, than that's good money. If not, than what are we talking about?
PS. Collateralizing UTXOs in order to get new brand printed fiat shitcoins is not the future I imagine, even though that's a use case. But still, at the end of the chain the sats should have a real-economy value in transactional economy.
End of the rant of a bitcoiner that tried for years to talk about adoption and spend&replace.
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This sounds like a time preference grief.
I came into Bitcoin as an agorist interested in MoE, but thats a latter act in the story.
The farmer needs to save in Bitcoin otherwise he has no reason to exchange for it.
Stingy people exist in fiat too, there's far more of them clutching their shekels earning yield below the rate of inflation.
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Appreciate your time preference horizon, you may be right.
I don't think in Act terms because I see things as more complex than a simple n-step evolution, mass MoE shall happen before the mass adoption as SoV, otherwise mass SoV withouth MoE means full bag holders with no use case.
Farmer may start receiving bitcoin and then start studying it. From studying he/she maturates understanding and starts saving the bitcoin that he receives from time to time, when before he/she was selling to get fiat. This is not a necessary path, but is how 90/95% of merchants accepting bitcoin actually understood bitcoin, at least from my experience.
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Sure there's no true line if demarcation, but general adoption waves
The bigger issue is when people gripe about anyone with an SoV focus, that's always a first principle and not mutually exclusive to MoE
The MoE tools I build are only possible because they bring the prospect of being monetized with a SoV
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