LogicallyMinded on Nostr: Even if you believe that the medium of exchange use case isn’t important to ...
Even if you believe that the medium of exchange use case isn’t important to #Bitcoin because you want to save rather than spend your #BTC. You’re probably missing the fact that if Bitcoin can’t supersede the fiat system as a medium of exchange it makes it more vulnerable to “paper attacks” from the banking system which consist in printing paper bitcoins. This type of attack is made possible in part because people don’t regularly utilize bitcoins making it for many people a decent instrument to hold with their traditional financial institution.
Published at
2024-09-20 19:03:37Event JSON
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"content": "Even if you believe that the medium of exchange use case isn’t important to #Bitcoin because you want to save rather than spend your #BTC. You’re probably missing the fact that if Bitcoin can’t supersede the fiat system as a medium of exchange it makes it more vulnerable to “paper attacks” from the banking system which consist in printing paper bitcoins. This type of attack is made possible in part because people don’t regularly utilize bitcoins making it for many people a decent instrument to hold with their traditional financial institution.",
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