Jordan on Nostr: As far as the primary debate goes I agree that Fiat is a poor tool to use as a ...
As far as the primary debate goes I agree that Fiat is a poor tool to use as a measure of value.
Secondary side debate replies
Value - The inherit worth, or utility use case of something to the individual acquiring the asset, or commodity.
Value isn't speculative as most things have a baseline value, however the prices which reflect the value changes, prices don't always reflect value properly but they do tend to be correlated.
I don't think Bitcoin will stop asset speculation like house purchases to use for financial appreciation/gains, or gold as a hedge against inflation, however I will agree that bitcoin might slow down the rate at which both of these behaviors occur.
My argument of negative value being "absorbed" by Bitcoin may have not been the most flushed out since few if anyone appears to mention the theory of current debt under a Bitcoin standard since the current economy is bigger than its actual liquid value.
Bitcoin is hard money, and I agree with that, lightning is not hard money as its not secured by The Blockchain, Lightning is a collaterized debt backed by Bitcoin, luckily the protocol functions but to me, it's not how I want to build an economy.
Monero has all three, speed, total confirmation, and settlement on blockchain takes 20 minutes, security you're unable to spend funds until 10 blocks have been unlocked, & scalability since block size is adaptive.
Secondary side debate replies
Value - The inherit worth, or utility use case of something to the individual acquiring the asset, or commodity.
Value isn't speculative as most things have a baseline value, however the prices which reflect the value changes, prices don't always reflect value properly but they do tend to be correlated.
I don't think Bitcoin will stop asset speculation like house purchases to use for financial appreciation/gains, or gold as a hedge against inflation, however I will agree that bitcoin might slow down the rate at which both of these behaviors occur.
My argument of negative value being "absorbed" by Bitcoin may have not been the most flushed out since few if anyone appears to mention the theory of current debt under a Bitcoin standard since the current economy is bigger than its actual liquid value.
Bitcoin is hard money, and I agree with that, lightning is not hard money as its not secured by The Blockchain, Lightning is a collaterized debt backed by Bitcoin, luckily the protocol functions but to me, it's not how I want to build an economy.
Monero has all three, speed, total confirmation, and settlement on blockchain takes 20 minutes, security you're unable to spend funds until 10 blocks have been unlocked, & scalability since block size is adaptive.