jacklesser on Nostr: jack talked about in a Citadel Dispatch with ODELL that if Bitcoin is unable to come ...
jack (npub1sg6…f63m) talked about in a Citadel Dispatch with ODELL (npub1qny…95gx) that if Bitcoin is unable to come to fruition as digital cash then the project has "failed". This has raised questions of how to onboard new bitcoiners and focusing on its payments or store of value characteristics.
I don't disagree with Jack at all, but think that using Bitcoin's qualities as a way to accelerate its adoption as a Store of Value provides a unique value proposition to help channel more capital into bitcoin that ultimately enables the innovation towards future payments and transfers of bitcoin in everyday purchases.
But, if this capital is parked in a "digital rock" as skeptics argue (like the ETF), then it could stifle the innovation of self custody and having a digital cash to grow the circular economy. Or worse, if all bitcoin holdings are in centralized institutions then we haven't democratized the financial system that Bitcoin has enabled across the world.
This is a chicken and egg problem of what is the most effective way to Orange Pill new users because both approaches have strengths and drawbacks to the future of bitcoin.
For me, I tend to fall on the store of value and savings side of Bitcoin as the first step of taking the Orange Pill. I think getting people off zero for what they are personally accountable to will create a curiosity towards self custody and P2P transactions of using bitcoin.
Business owners that begin with using bitcoin as a store of value for their profits can gradually accelerate their digital transformation towards a Bitcoin Standard. It starts with getting off zero and solving their short term problems for a long term solution.
#DailyDose #DigitalTransformation
I don't disagree with Jack at all, but think that using Bitcoin's qualities as a way to accelerate its adoption as a Store of Value provides a unique value proposition to help channel more capital into bitcoin that ultimately enables the innovation towards future payments and transfers of bitcoin in everyday purchases.
But, if this capital is parked in a "digital rock" as skeptics argue (like the ETF), then it could stifle the innovation of self custody and having a digital cash to grow the circular economy. Or worse, if all bitcoin holdings are in centralized institutions then we haven't democratized the financial system that Bitcoin has enabled across the world.
This is a chicken and egg problem of what is the most effective way to Orange Pill new users because both approaches have strengths and drawbacks to the future of bitcoin.
For me, I tend to fall on the store of value and savings side of Bitcoin as the first step of taking the Orange Pill. I think getting people off zero for what they are personally accountable to will create a curiosity towards self custody and P2P transactions of using bitcoin.
Business owners that begin with using bitcoin as a store of value for their profits can gradually accelerate their digital transformation towards a Bitcoin Standard. It starts with getting off zero and solving their short term problems for a long term solution.
#DailyDose #DigitalTransformation