Michele Degli Uberti on Nostr: Serious risk indeed. Without becoming a useful and widespread means of payment (as it ...
Serious risk indeed.
Without becoming a useful and widespread means of payment (as it seems to be now), Bitcoin's store of value proposition is very weak in the long run. #Gresham's Law has no exceptions when it comes to #Bitcoin.
With a "hodling only" approach, the centralization of ownership and custodial services is increasing rapidly. Fractional reserve banking is just around the corner, along with strict regolatory limitations on #self-custody.
Eventually, we could find ourselves back in the #matrix we tried to escape.
Prove me wrong!
P.s.: I love Bitcoin, but we cannot be blind with love and lose our adversarial/critical thinking. Every passing day I dislike more Bitcoiners' cargo cult tendencies and group thinking.
Big blockers warnings and Schiff's valid arguments shouldn't be discounted as defeatism and heresy.
Without becoming a useful and widespread means of payment (as it seems to be now), Bitcoin's store of value proposition is very weak in the long run. #Gresham's Law has no exceptions when it comes to #Bitcoin.
With a "hodling only" approach, the centralization of ownership and custodial services is increasing rapidly. Fractional reserve banking is just around the corner, along with strict regolatory limitations on #self-custody.
Eventually, we could find ourselves back in the #matrix we tried to escape.
Prove me wrong!
P.s.: I love Bitcoin, but we cannot be blind with love and lose our adversarial/critical thinking. Every passing day I dislike more Bitcoiners' cargo cult tendencies and group thinking.
Big blockers warnings and Schiff's valid arguments shouldn't be discounted as defeatism and heresy.
quoting nevent1q…6095Featuring adam (nprofile…f0fe) jack (npub1sg6…f63m)