ewok on Nostr: For a high #bitcoin price, all you need is corporations, banks and countries to take ...
For a high #bitcoin price, all you need is corporations, banks and countries to take bitcoin seriously, which they are. This is all that is needed for Saylor’s vision, where bitcoin is a new, highly valuable class of property/capital to engineer more USD fiat from, but only that, and it never acts as the people’s currency.
In one scenario, you could get a fast 1M driven by oligarchs before regular people even notice. And at1M it won’t be viewed like a Veblen good by people, it’ll be viewed as “too expensive”, and they’ll continue to lock themselves out.
For the actual revolution, you need to onboard these people to the concept of bitcoinization, and this truly doesn’t seem to be happening in the near or medium term (eg before 1M), even with the US president talking about it every couple of days. It really is mind blowing to me but maybe this is fundamentally how society works 🌝
Gm
In one scenario, you could get a fast 1M driven by oligarchs before regular people even notice. And at1M it won’t be viewed like a Veblen good by people, it’ll be viewed as “too expensive”, and they’ll continue to lock themselves out.
For the actual revolution, you need to onboard these people to the concept of bitcoinization, and this truly doesn’t seem to be happening in the near or medium term (eg before 1M), even with the US president talking about it every couple of days. It really is mind blowing to me but maybe this is fundamentally how society works 🌝
Gm