That's stupidity. What you talk about IS value and it is conveyed through price.
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Replying to @SoakerPatoshi @Moon__Rekt and
If bitcoin is 0% supply growth+tech, That would require governments to continuously *contract* the money supply to be on par
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Replying to @MustStopMurad @SoakerPatoshi and
Holding Bitcoin takes an insane amount of responsibility. Most people would rather a bank manage that. Only crazy assholes like us want to hold our own keys.
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Replying to @mi__maj @SoakerPatoshi and
Yes but holding Bitcoin at a bank is still holding Bitcoin. This guy was proposing we hold state fiat that’s pegged to bitcoin instead
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Replying to @MustStopMurad @mi__maj and
Is he really proposing that you hold one asset versus another? Or is he proposing that state fiat pegged to bitcoin is a likelihood, and provides a similar net impact as hyperbitcoinization in the purest sense?
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Replying to @FluidFluxation @MustStopMurad and
I think your missing the argument he's making
@MustStopMurad He's talking macro economic impacts, and your talking about individual asset preference.1 reply 0 retweets 3 likes -
Replying to @FluidFluxation @MustStopMurad and
If we have the premise that the value trends are the same, we cannot then say "but people will prefer one over the other" That the value trends are the same is an indication of equal preference.
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Replying to @SoakerPatoshi @FluidFluxation and
So 50/50 you think? Personally I can't see more then 20% of the population choosing to use BTC directly. But 20% of the population doesn't necessarily mean 20% of the value. 50% of the monetary value could be absorbed by BTC while only 20% of the people are using it directly.
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Replying to @mi__maj @SoakerPatoshi and
In 50 years, its possible that majority of population will be tech-savvy enough to use BTC directly. Strong monetary incentive to use it to avoid taxes/government friction. Many businesses are simply too large to transact under the table, but scale of enterprise is declining.
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Replying to @mi__maj @SoakerPatoshi and
If bitcoin absorbs 50% of the monetary value, central banks will then stabilize against bitcoin, which in effect results in full indirect hyperbitcoinization.
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why hold fiat pegged to Bitcoin if you can just hold Bitcoin instead? there is a rainbow of technological advantages and utilities that holding Bitcoin directly enables that this pegged Fiat probably will not
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