pull down to refresh
21 sats \ 5 replies \ @clr 6 Nov \ parent \ on: How would you feel if btc was made a reserve asset? bitcoin
How does gold protect you from government? It has been pretty much useless so far. Yes, you can own gold; how is that working for you?
The point of bitcoin is to replace fiat, not to replace gold (even though it will replace gold as well).
i was using gold as an example because it is both a reserve asset and it is something that individuals can hold and sell. this was in counter to darth's autistic hissy fit about not owing stuff.
also, while i don't own any, gold has not been useless as a means of protecting purchasing power, you can look at any fiat V dollar. you're as bad as people saying that btc has been useless. gold is also a bearer asset after all.
as for btc to replace fiat, i wasn't even talking about that. i was asking how people feel about it being used as a reserve asset. the question was not 'what is the true purpose of btc'
it's like you people can't read a question properly without spinning off into something else
reply
Tbh please STFU with the term "reserve asset", it sounds retarded af. The concept of a "reserve asset" is totally vestigial. FIAT MONEY IS NOT BACKED BY RESERVES. 1971. STOP SAYING NONSENSE WORDS, OK?
reply
I would reframe your question to how do you feel about governments, central banks, pension plans, corporations, etc. using bitcoin to try to keep themselves afloat while disparaging it?
You are already getting answers to your question. Please don't get angry at us just because you don't like the answers.
reply
im getting angry because of people projecting their own shite onto the question. i am fine either way, i actually don't mind the government using it as a reserve asset, in fact, i think it's inevitable.
i would rather people answer with their opinion but what happens is people like darth, start attacking me and projecting for asking a question, then you hop on and make a ton of presumptions.
you should have just answered:
'i hate it because it means central banks, pension plans, corporations, etc. will use bitcoin to try to keep themselves afloat while disparaging it'
simple as that.
reply
I am grateful for the mirroring.
What I miss in the conversation is a focus on the use as medium of exchange. Yes, the "reserve asset" is inevitable and will pump the price, sure, but if bitcoin is not adopted as MoE, then the "reserve" narrative is built on quicksand. Then, when the price crashes, they will attack us fiercely for it.
I prefer steady adoption and building on a solid foundation.
reply