seha on Nostr: Agree the variance around circumstances is large, but those that can responsibly get ...
Agree the variance around circumstances is large, but those that can responsibly get close to zero are the exception, not the norm. You’d have to be willing and able to make sudden and significant changes to your lifestyle, which itself would result in a sense of uncertainty.
Saving in bitcoin is meant to help deal with future uncertainty, but that alone won’t be the case until after bitcoinization takes place. Getting on zero during the transition can itself be a source of uncertainty and introduce the very problem we hope sound money helps us avoid in a bitcoinized world.
It doesn’t become prudent to move towards zero fiat until a significant portion of the world’s cash balances are in bitcoin and where it starts to factor into the unit of account for most goods and services in the world.
The path to get there is to be productive, thrifty, and prudent in asset-liability management while growing one’s cash balances in bitcoin. Over time, if bitcoin does what we think it will do, it should move bitcoiners to zero naturally. For instance, OG bitcoiners with large stacks are already effectively on zero even if they hold an epoch’s worth of modest fiat expenses.
Saving in bitcoin is meant to help deal with future uncertainty, but that alone won’t be the case until after bitcoinization takes place. Getting on zero during the transition can itself be a source of uncertainty and introduce the very problem we hope sound money helps us avoid in a bitcoinized world.
It doesn’t become prudent to move towards zero fiat until a significant portion of the world’s cash balances are in bitcoin and where it starts to factor into the unit of account for most goods and services in the world.
The path to get there is to be productive, thrifty, and prudent in asset-liability management while growing one’s cash balances in bitcoin. Over time, if bitcoin does what we think it will do, it should move bitcoiners to zero naturally. For instance, OG bitcoiners with large stacks are already effectively on zero even if they hold an epoch’s worth of modest fiat expenses.