Damus
gsovereignty profile picture
gsovereignty
@gsovereignty
Paper bitcoin is a thing because our territory of freedom has no exports.

Even worse, our territory of freedom is completely dependent on imports from the fiat dominion.

Whoever produces the stuff you need decides what form of money you will pay with.

To pay for goods and services produced in the fiat dominion, you must use fiat. That's where fiat gets its power - if you want access to the global economy you must go through fiat as a gatekeeper.

So even if you pay with bitcoin for imports from the fiat dominion, you don't get what you're paying for until someone settles the trade in fiat. By paying in bitcoin you're actually just creating demand for fiat.

That's why most people are actually better off with custodial bitcoin. It's not about the difficulty of self custody, it's about a guaranteed offramp into the fiat they need to access the economy that produces the stuff they want.

A bitcoin standard just means the net producers in the economy are bitcoiners, and so you need bitcoin to access the economy.

Right now it's the exact opposite.

We fix this by becoming better than the fiat dominion at improving the human condition.

103❀️8πŸ€™2πŸ’―1πŸš€1πŸ€™πŸΌ1
Cardinal · 39w
Right now, demanding bitcoin as the only medium of payment for our products makes us less competitive in the marketplace where consumers want convenience. Perhaps if more businesses offer large discounts for payment in btc, we can slowly incentivize more people to hold and pay with btc .
stacktoshi πŸš€ ∞/21m · 39w
Nice note. A couple quibbles though. Fiat took over because it was superior in some ways to paper and physical gold, and government forced it down their citizens throats. Bitcoin will take over because it's superior to both of those, and government can't easily stop it. But it will definitely tak...
Short Fiat · 39w
If we pay for bitcion audiobooks with bitcoin, then we have an entirely digital economy
Richard · 39w
IMHO we’re beyond the point of worrying about exchanging bitcoin for fiat; or for anything else, for that matter. Self-custody should be the default, and as a community, it’s our responsibility to make that a reality through awareness, education, and better tooling. Bitcoin circular economies a...
Achilles · 39w
Bitcoiner citadels in the making πŸ§‘πŸ—½πŸ°. Where we going?