Pawn Dev on Nostr: You know, I am all for privacy and using bitcoin as a medium of exchange and whatnot, ...
You know, I am all for privacy and using bitcoin as a medium of exchange and whatnot, but sometimes it looks like some libertarians are a little off in the discussion.
I understand, you don't want nation states and multinationals to enter the bitcoin ecosystem. Neither do I, because that can make prices skyrocket and obliterate my ability to stack fat sats. But we have to understand something: it really doesn't matter the slightest bit what "we want" or "would like to happen". It also doesn't matter what we think bitcoin should be all about, but only what can be done with it under any circumstances. Hell, not even what Satoshi Nakamoto himself thinks of bitcoin really matters. A system's purpose is what it does. If governments start strategic reserves, that is what bitcoin is for; if people start black markets with it, that's what it's for; if BlackRock and the financial sharks launch etfs and all that shit, that is what bitcoin is for. If it can be done, it will be done, and like Ivan Drago said, "if he dies, he dies". This is true for everything. Think about using gold for industrial purposes, jewelry, coins, black markets, central bank reserves... Gold is what it is, and people will use it as they intend to, as long as gold in itself permits it. This is the beaty of bitcoin. Only bitcoin itself imposes limitations to its users. Not you, not the american government, not the fucking chinese communist party.
If we had the power to stop nation state adoption, we would have already lost bitcoin, for it would be just another software like any other, where we can arbitrarily establish rules and impose our whims. The same thing applies to the "store of value or medium of exchange" problem. If people use it to trade, it is for trading, if they store it, it is for storing. "Oh but it was hijacked", so stop using it. You can't have your cake and eat it. If you like an altcoin, but it sucks and nobody wants it, and you wanted bitcoin to be like it so you could use it like that, maybe you would be making bitcoin shitier, and nobody would want it anymore, just like they don't want your shitcoin.
Nothing is a "store of value" or a "medium of exchange" in and of itself. These are just accidental characteristics that things can have, and they even might have them one day, and not in the next. The debate doesn't even make sense. Not even gold is a store of value per se. We use it that way, that's all. To say bitcoin must be one or the other is like saying a shoe must be used either for protecting our feet or for warming them, but that it can't be both. If you are cold you can use them for warmth, and if you don't like to walk barefoot you can use them for protection.
A shoe is a shoe, gold is gold, and bitcoin is bitcoin. Understand what it is and stop wishing for it to be what it is not.
#Bitcoin #StoreofValue #MediumofExchange #BSR #BitcoinStrategicReserve #ETF
I understand, you don't want nation states and multinationals to enter the bitcoin ecosystem. Neither do I, because that can make prices skyrocket and obliterate my ability to stack fat sats. But we have to understand something: it really doesn't matter the slightest bit what "we want" or "would like to happen". It also doesn't matter what we think bitcoin should be all about, but only what can be done with it under any circumstances. Hell, not even what Satoshi Nakamoto himself thinks of bitcoin really matters. A system's purpose is what it does. If governments start strategic reserves, that is what bitcoin is for; if people start black markets with it, that's what it's for; if BlackRock and the financial sharks launch etfs and all that shit, that is what bitcoin is for. If it can be done, it will be done, and like Ivan Drago said, "if he dies, he dies". This is true for everything. Think about using gold for industrial purposes, jewelry, coins, black markets, central bank reserves... Gold is what it is, and people will use it as they intend to, as long as gold in itself permits it. This is the beaty of bitcoin. Only bitcoin itself imposes limitations to its users. Not you, not the american government, not the fucking chinese communist party.
If we had the power to stop nation state adoption, we would have already lost bitcoin, for it would be just another software like any other, where we can arbitrarily establish rules and impose our whims. The same thing applies to the "store of value or medium of exchange" problem. If people use it to trade, it is for trading, if they store it, it is for storing. "Oh but it was hijacked", so stop using it. You can't have your cake and eat it. If you like an altcoin, but it sucks and nobody wants it, and you wanted bitcoin to be like it so you could use it like that, maybe you would be making bitcoin shitier, and nobody would want it anymore, just like they don't want your shitcoin.
Nothing is a "store of value" or a "medium of exchange" in and of itself. These are just accidental characteristics that things can have, and they even might have them one day, and not in the next. The debate doesn't even make sense. Not even gold is a store of value per se. We use it that way, that's all. To say bitcoin must be one or the other is like saying a shoe must be used either for protecting our feet or for warming them, but that it can't be both. If you are cold you can use them for warmth, and if you don't like to walk barefoot you can use them for protection.
A shoe is a shoe, gold is gold, and bitcoin is bitcoin. Understand what it is and stop wishing for it to be what it is not.
#Bitcoin #StoreofValue #MediumofExchange #BSR #BitcoinStrategicReserve #ETF