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28 sats \ 3 replies \ @optimism 6h \ parent \ on: Market Prices Are Truth: What is BTC/USD Telling Us? bitcoin
Everybody know of bitcoin (it's hard not too), nobody just have a clue what it is and don't really care?
I subscribe to this. The "what it is" part is obscured by: Exchange narratives, "crypto" narratives, Greenpeace narratives, ETF narratives, Sen. Warren narratives and now SBR narrative.
The number one thing I deal with in talking about Bitcoin with people is that the raison d'être isn't even known. In the normie mindset I mostly encounter is that its a speculative virtual casino thing. I can't remember a single normie ever telling me that Bitcoin fixes something.
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100 sats \ 2 replies \ @denlillaapan OP 6h
that is sort of the best reasons, I think, that it won't succeed: you have no more people/money to move into. Peeps want more fiat, now a better world. So, who's gonna buy this thing to 100k, 1mil, 10mil?
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0 sats \ 0 replies \ @optimism 3h
I personally don't see NgU as a first principle. Its a potential (and likely, and thus far proven-ish) effect of programmatically sidelining the peeps at the monetary controls with a consensus enforced fixed supply.
Because its consensus enforced it only works if Bitcoiners are willing to defend it (the supply limit). This answers your question:
So, who's gonna buy this thing to 100k, 1mil, 10mil?
Bitcoiners.
This is not a battle of exchange rate, its a battle of merit to having something the Fed doesn't control. They definitely control the exchange rate with the dollar tho, because that's half of the trade pair. So NgU vs the dollar will have to be in the face of adversity. After all they can shred and they can print. Manipulate both ways
The ultimate question is: what appeal does the orange pill have? And perhaps that answer is sovereignty more than NgU at this moment. At least that's what I personally pitch: freedom.
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0 sats \ 0 replies \ @028559d218 4h
i believe that 'people' have no choice but to partake in systems that are more energy efficient. fill a seed phrase up with bitcoin, put it in a safe... and the mining hashrate keeps going up requiring more and more energy (which is the trend) and you have a fantastic 'digital battery' of sorts.
or you put that seed on a smartphone... open channels with it and pay + get paid over lighting from anywhere in the world 24/7 at any time.
everyone with economic capital will want and need such a system eventually
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