bitvestor on Nostr: Thoughts on #bitcoin as a medium of exchange… This will start in the extremes of ...
Thoughts on #bitcoin as a medium of exchange…
This will start in the extremes of the bell curve, where some #zap on #nostr and buy coffee, and where nation states transact energy in #btc. Then it’ll become more normalized to purchase housing/hard assets in btc IF the US eliminates a taxable event in purchases made in bitcoin. How you’d prove this would be some sort of hashed invoice from the seller that you present to the IRS, if that exists by that point.
Anyway, once bitcoin’s fiat value stables under +/- 20% annual volatility, then the middle bell curve comprising all goods will start to be purchased. At this point energy to btc will be so common that most items may also be priced in #sats and/or two prices will be given where sats would be lower than their fiat equivalent for the same item. The free market would detect this and it would slowly transition our economy to be built atop bitcoin.
A much more peaceful flip than the violent economic collapse as many bitcoiners gravitate toward.
This will start in the extremes of the bell curve, where some #zap on #nostr and buy coffee, and where nation states transact energy in #btc. Then it’ll become more normalized to purchase housing/hard assets in btc IF the US eliminates a taxable event in purchases made in bitcoin. How you’d prove this would be some sort of hashed invoice from the seller that you present to the IRS, if that exists by that point.
Anyway, once bitcoin’s fiat value stables under +/- 20% annual volatility, then the middle bell curve comprising all goods will start to be purchased. At this point energy to btc will be so common that most items may also be priced in #sats and/or two prices will be given where sats would be lower than their fiat equivalent for the same item. The free market would detect this and it would slowly transition our economy to be built atop bitcoin.
A much more peaceful flip than the violent economic collapse as many bitcoiners gravitate toward.