Jeff Booth on Nostr: Thanks Tankred and happy to connect anytime to go deeper. I agree that stable coins ...
Thanks Tankred and happy to connect anytime to go deeper. I agree that stable coins will be preferred (because most people don’t understand the game and will sacrifice short term for long term and the big money is in that game - so the incentives are too). That in itself - a stable coin is guaranteed to lose value to bitcoin at the same rate as currencies - will consolidate L2 and then provide an attack vector through a highly centralizing force with AI to essentially play the same game as humans have played throughout time. Prisoners dilemma through extraction and control. Could see the attack coming from a mile away because it was necessary to maintain the control structure. As store of value, Bitcoin would look like gold today, and then be suppressed through layer 2. In other words, for bitcoin to bring truth, hope and abundance to our world, it MUST also be used as a medium of exchange.
That’s the game I’m playing and the stakes are very high!!
Published at
2024-07-09 18:49:32Event JSON
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"content": "Thanks Tankred and happy to connect anytime to go deeper. I agree that stable coins will be preferred (because most people don’t understand the game and will sacrifice short term for long term and the big money is in that game - so the incentives are too). That in itself - a stable coin is guaranteed to lose value to bitcoin at the same rate as currencies - will consolidate L2 and then provide an attack vector through a highly centralizing force with AI to essentially play the same game as humans have played throughout time. Prisoners dilemma through extraction and control. Could see the attack coming from a mile away because it was necessary to maintain the control structure. As store of value, Bitcoin would look like gold today, and then be suppressed through layer 2. In other words, for bitcoin to bring truth, hope and abundance to our world, it MUST also be used as a medium of exchange. \n\nThat’s the game I’m playing and the stakes are very high!!",
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