Earnest Holden on Nostr: Completely agree with everything Derek says, and would add one incremental point. ...
Completely agree with everything Derek says, and would add one incremental point.
This is also a micro case study of the broader fiat system v. sound money.
The fiat system, for a very long time (in my opinion, probably a magnitude longer than most here think), will be able to “pay” you to participate in it. It will be up to each individual to determine (1) where their time and energy are best rewarded and (2) in which savings vehicle they then place their excess time and energy.
For Joe (and many others, almost everyone) it is still much more lucrative to mine in fiat and save in Bitcoin. Twitter is just one example of this.
Of course, this it will change over time.
This is also a micro case study of the broader fiat system v. sound money.
The fiat system, for a very long time (in my opinion, probably a magnitude longer than most here think), will be able to “pay” you to participate in it. It will be up to each individual to determine (1) where their time and energy are best rewarded and (2) in which savings vehicle they then place their excess time and energy.
For Joe (and many others, almost everyone) it is still much more lucrative to mine in fiat and save in Bitcoin. Twitter is just one example of this.
Of course, this it will change over time.