Great reply! It’s all simply baseless assertion :-) but your response raises some very interesting questions.

The first question, “Could a nation operating on The Bitcoin Standard enjoy a superior economy to the same nation on fiat?” is one of the most important macroeconomic question of the 21st century. We will not see large scale results for another 20 years at least here, maybe 40.

Anecdotal small scale rural circular economies do appear to be more efficient, as they are often replacing physical cash transported over large distance. In say, the economy of an alpha city, there is already efficient fiat and credit rails, so it will take longer to see. I would like to say, yes, but i think we have insufficient data.

I agree with your observations of how Bitcoin, the abstract asset, is used and treated today outside of ‘bitcoiners’. But this is just another phase, and by no means the last. I have no evidence of smart money settling this way outside of rumor.

What I will say is that is no real way to stop someone from using it as a p2p MoE, so all supplemental use cases are additive. BTC ETFs? Great, do like-for-like and wrap coins and put them to sleep. Same as long term Hodl. Treasury company to preserve capital? Likewise for Hodl. The stock tends to trade for a premium over spot, good for the issuer! Use it to generate “accretive strategies”. Make bonds more palatable by adding Bitcoin component to restricted buyers, great! They all seem pretty smart right now.

None of this has any impact on how I generate txs or interact with Bitcoin. There are many more use cases not thought of yet! None of this is close to a final form. Bitcoin will work the same way even if Blackrock holds 2M coins, I welcome Larry to Hodl and transact with me onchain.