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35 sats \ 1 reply \ @028559d218 18h \ parent \ on: Will you be happy if Bitcoin rises upon the decline of the USD? bitcoin
Bitcoin has performed incredibly well as a SoV/speculative commodity- but my fear is that this is due in large part to a process of capture and control orchestrated by the bankers- they have increasingly commodified our P2P MoE, taken custody of it, frozen a growing portion of issuance from any possible use as a p2p MoE and tracked and traced the vast majority of BTC that is still held in citizens private custody.
if citizens want to use it for moe and use it privately... they can. that is the important thing.
By 'The bond market begs to differ' do you mean Bitcoins exceptional SoV performance has provided an alternative to nation states (eg El Salvador has doubled the USD denominated value of its BTC Treasury) or something else?
yes nation states. but no not El Salvador, the united states. The united states adopting bitcoin as an alternative to the dying dollar (which is dying, slowly of course but it is)
I was hoping El Salvador might start to issue BTC bonds and demonstrate a viable alternative to endless dependence upon the IMFs fiat debt slavery,. but this does not yet seem to have developed.
Bitcoin is only 16 years old. it is not even an adult yet and can barely drive a car
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0 sats \ 0 replies \ @Solomonsatoshi OP 17h
if citizens want to use it for moe and use it privately... they can. that is the important thing.
In practice the tax obligations and implications make lawful MoE use of Bitcoin/LN for everyday payments effectively impractical.
Does anyone zapping on here comply with the absurd compliance implications of those zaps? Unless they are from El Salvador I very much doubt it.
'The united states adopting bitcoin as an alternative to the dying dollar (which is dying, slowly of course but it is)'
I see what you mean in terms of US adopting Bitcoin as an investment asset/speculative commodity - as a hedge against the decline of the USD - and yes in that sense Bitcoin adoption is advancing (as my post argues and with the possible consequences as well) - but with that US adoption of BTC as an alternative to traditional fiat bonds, I also suggest MoE use is at risk of getting sacrificed along the way.
'Bitcoin is only 16 years old.'
True!- amazing really- its still early days, but the changes Bitcoin has made already are incredible. I just hope we continue to make such incredible progress and do not get captured and controlled by the bankers/governments.
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