pull down to refresh
54 sats \ 48 replies \ @Undisciplined 19 Dec \ on: Barber Shop Bitcoin Babble bitcoin
Most people won't be here for the revolution. That's fine. Bitcoin is for them, too.
what do you mean?
reply
I mean that bitcoin does many valuable things.
Some people will primarily value it as a great savings technology (even if they're thinking of it as a speculative vehicle), while some of us are here for the revolutionary effect it's going to have on the world.
reply
OK.
This remind me of why I wrote this guide... about 5 stages.
https://darth-coin.github.io/beginner/5-stages-became-bitcoiner-en.html
reply
I think many people will be perfectly happy staying on step one, but, as you note, that's the hardest step.
Most people aren't passionate about their principles. They just want to keep what they've earned.
reply
You could also say the fear motivates a lot of people to try to keep what they have and not lose it. However, they don’t fear enough, IMHO. It is the platforms, exchanges and FTXs of the world that are ripping them new ones. If they held it themselves they would do better with less fear, I think.
reply
They just want to keep what they've earned.
What they really earned if their mind is only fixated on fiat gains?
reply
Fair enough. I think of it as keeping what they've earned, because I think of bitcoin as money. They are probably thinking of it as a speculative investment, though, and therefore seeking gains.
reply
It looks like you may be right. They are still in the fiat set of mind.
reply
self custody
run a node
use lightning and liquid
reply
I suspect the first two will always be unusual, but most people will use L2's for daily transactions.
reply
I think we went through this a week or so ago, BTC has both SOV and MOE properties. It is useful in many ways besides making a profit, in terms of fiat.
I notice that it is also a great ego booster for those that had the foresight to get in early.
I notice that it is also a great ego booster for those that had the foresight to get in early.
reply
It's hard to put a price on the smug sense of self satisfaction.
reply
Yes, I guess it is priceless! Just wish I had that feeling.
reply
one million dollars!
reply
Hardly
reply
Shallow
reply
Early is relative, no?
Many folks here are 'early' and and are 'in profit' - 'deep in the green' as the traders say.
The problem of course is... what do you trade out to? Paper money? Why?
That would be nuts.
reply
Commodity traders usually say, “Deep in the money.” Not green.
You trade out to goods and services by using BTC as MoE.
reply
I agree. BTC directly to goods and services.
BTC exchanged for paper money... to spend on goods and services is a scam in most cases in my opinion.
Having said that, the etfs do not allow for spending on 'goods and services' not really.
And people need more education before they are ready/educated enough to spend on goods and services. A large number of people (strangely) think Bitcoin is a scam, a 'crypto' thing they don't understand you can actually send and receive bitcoin.
reply
Why are you in an ETF? You can self-hodl and not have to worry about all the problems with platforms and exchanges.
Early is before most people get in, because most people will get in eventually.
You trade for goods and services that you use. That's the entire point of money.
reply
People don't see it that way.
Especially if they use ETFs.
They trade out to... dollars and paper money.
Trading for goods and services requires sending and receiving to addresses, or at least the remedial use of lightning.
Which ETF users don't actually know exist.
On top of that, most government policy disincentivizes spending directly on goods and services... because that would remove the need for fiat to begin with.
Today total Bitcoin adoption is something like... 1%? maybe much, much less? Are we 'early'?
reply
Yes, we are early adopters, not innovators. Folks like @DarthCoin are the innovators that got in near the true bottom.
By that time, BTC will be for everybody not willing to be skinned alive.
reply