POLL: What's the 'end state' for bitcoin? \ stacker news ~bitcoin

pull down to refresh

POLL: What's the 'end state' for bitcoin?

1524 sats \ 26 comments \ @birdeye21 1 May bitcoin

Despite the respect I may have a for any given person/entity within bitcoin, they never fail to broadcast certain messaging that rubs me the wrong way...

When thinking about the end state for bitcoin--when it's fully realized its purpose--what does that bitcoin look like?

I'm trying to see somethin.

"DUAL MONEY": SAVE BTC, SPEND CASH21.4%

ONE MONEY FOR ALL: SAVING + SPENDING69.0%

OTHER (EXPLAIN)9.5%

42 votes \ poll ended

view all related items

229 sats \ 2 replies \ @DarthCoin 1 May

21 sats \ 1 reply \ @birdeye21 OP 1 May

You have a beautiful way with words darth <3

0 sats \ 0 replies \ @Solomonsatoshi 1 May

Darth is just as dependent upon The State for his wealth health and security as everyone else is. Without the states protection and provisions @DarthCoin would be a shivering gibbering wreck within days, begging for a blanket and a Big Mac. The State is a crucial factor in the wealth of nations.

120 sats \ 3 replies \ @fiatbad 1 May

If the goal isn't to bring an end to fiat money, then what are we really doing here?

Everyone here should be inclined to click option 2. If you you're part of the 17% who clicked option 1, fuck you. Seriously.

While I was inclined to click option 2, I selected option 3 because I'm beginning to doubt that Bitcoin will ever be able to scale enough, from a technological perspective. Every L2/L3 solution seems to come with a large amount of centralization and the potential for paper-Bitcoin, re-hypothecation, and state-control. They also come with a lot of extra learning/overhead for normies. If we can't make it as easy to use as Visa/Venmo, it's not going to succeed because the average person doesn't care about financial mumbo-jumbo and will always choose convenience even if it's bad for them.

So, I'm in camp option 2 with the caveat that we still need to make it technologically possible to accomplish.

12 sats \ 1 reply \ @fiatbad 1 May

it's not going to succeed because the average person doesn't care about financial mumbo-jumbo and will always choose convenience even if it's bad for them

Shit, not only the "average person" has this problem, but the average Bitcoiner as well!

If this crowd won't even to go out of their way to stop using fiat, how can we ever expect it to propagate to the average person?

12 sats \ 0 replies \ @Solomonsatoshi 1 May

Most people are herd animals. They will sell out their freedom for the price of a Big Mac and coke.

The fiat operators know this and have slyly and successfully corralled most Bitcoiners into the DCA HODL KYCed, taxed, tracked and traced speculative commodity narrative.

An analogy is Linux. Largely captured although still able to be used - but only used directly by a minority of individuals.

Hopefully we can still use Bitcoin as a P2P payment protocol into the future but mostly it will be held and controlled by institutions as a speculative commodity plaything. This process is well underway though most Bitcoiners even here on SN are in denial...because the speculative commodity narrative works best when drenched in blind hopium...rather than confronting reality.

0 sats \ 0 replies \ @birdeye21 OP 1 May

FIAT 👏 BAD 👏

33 sats \ 3 replies \ @Solomonsatoshi 1 May

Realistically probably as an alternative to state sponsored CBDCs.

7 sats \ 2 replies \ @birdeye21 OP 1 May

Yes agree but are you saying cbdcs will always be around?

0 sats \ 0 replies \ @Solomonsatoshi 1 May

To put it another way would a nation operating The Bitcoin Standard be more or less likely to be capable of fending off military aggression from one that operates on a CBDC/fiat standard?

CBDC super charges the states ability to leverage citizens monetary capital and thus super charges its ability to project power.

How does Bitcoin or a nation operating under The Bitcoin Standard effectively respond to this?

0 sats \ 0 replies \ @Solomonsatoshi 1 May

As long as nation states are the dominant power structures under which humans live then fiat money seems likely to remain in place...and most likely CBDC fiat as it gives the state the most monetary power and leverage.

33 sats \ 1 reply \ @quark 1 May

More and more it seems it is dual money, save btc, spend cash. Now that the rich embrace it and it is not just a weird thing by a few cyber anarchists, I know the future of Bitcoin is great.

0 sats \ 0 replies \ @birdeye21 OP 1 May

i've witnessed many bitcoin brains break when they witnessed enemies liking bitcoin...

In the short term i agree it's feeling that way, but I can't imagine that dual money dynamic lasting indefinitely into the future. I stand by that it's a necessary transitional stage

33 sats \ 0 replies \ @JesseJames 2 May

there is no end :-) We can however end the state or at least convert it to the real "we the people" land.... One can dream, can't I? :-)

22 sats \ 0 replies \ @Solomonsatoshi 1 May

22 sats \ 1 reply \ @justin_shocknet 1 May

I've dedicated a decade now to MoE and still think that will be relatively niche, organizations be they states or otherwise will continue to exist and have their own "internal" accounting systems

Mars bitcoin vs. spacex cafeteria coin for example

17 sats \ 0 replies \ @birdeye21 OP 1 May

hard to say when we're only 16 years into this thing

22 sats \ 0 replies \ @grayruby 1 May

Unknown

22 sats \ 0 replies \ @SatsMate 2 May

While I would prefer one money for all, I think the most likely route is dual money. I can never see the state losing control of their shitcoin USD, and with that people will be spending the worse currency and saving the money/commodity that is bitcoin. Kind of like we have now. My opinion would change on this though if they started calling bitcoin money, removed cap gains taxes, and more avenues opened up to spend in bitcoin in the U.S.

It just hasn't happened yet, as much as I would like it to.

0 sats \ 2 replies \ @denlillaapan 1 May

ALso, strange options because "dual money" for a temporary period (i.e., now); and "One money for all" in a future, ideal, period

7 sats \ 0 replies \ @birdeye21 OP 1 May

Well that’s what I was getting at..will it’s end state stop at “dual money” or will it go all the way

0 sats \ 0 replies \ @Solomonsatoshi 1 May

Assuming the nation state is forced to surrender its fiat monetary power and leverage. Hard to see how this could happen realistically. Huge gap between the hopium and reality.