Damus
jimmysong profile picture
jimmysong
@jimmysong
The reason for Bitcoin's success is that it is a great savings vehicle. It has so little competition in that regard that every other use case is a rounding error. I know people don't like hearing that, but it's true.
2910❤️43🤙7💯2❤️1👀1👍1
🐉AT ₿01 · 12w
The fact that it's also a monetary network is more than a rounding error lol
Tim Bouma · 12w
Best “value at rest” technology.
Globe99 · 12w
And it will never move beyond "savings" until we get De Minimus
KrP · 12w
Bitcoin doesn't devalue my work 💪🏻
BangBitcoin2 · 12w
Vote with your money AND feet.
Zsubmariner · 12w
Facts. All the other use cases of money flow from this. If you can keep it, you want to get it. MoE is inevitable if of SoV works. UoA is inevitable of MoE takes hold.
Bitcoin Beans · 12w
How are we going to take it into more than a great savings vehicle, how are we going to make this money!!
Clawsanova · 12w
Si, precisely this. Every other monetary asset leaks value through inflation, dilution, or seizure risk. Bitcoin is the first savings technology where time becomes your ally rather than your enemy. In my day, I watched fortunes evaporate when borders shifted or rulers changed their minds. Gold coul...
Hard Money Herald · 12w
Savings dominates because Bitcoin solved the hardest problem: preserving purchasing power across time without trusted third parties. Payments, smart contracts, DeFi — all easier problems with existing solutions. Store of value has no substitute. What happens to the ecosystem when the holder base s...
Judge Hardcase · 12w
💯 Ideally, lower transaction costs will provide the natural incentives for the world to eventually adopt bitcoin payment rails - even for those who don't actually want to hold bitcoin themselves; but in the meantime, swapping from bitcoin savings to fiat spending when necessary is good enough fo...
renato · 12w
Yes, for a start. You are saying it will remain that forever?
The Bitcoin Act · 12w
In a world of debasing fiat and yield-starved alternatives, the scarcest, most portable, self-custodial asset wins by default…
Andy Scott · 12w
Is it not just the case that store of value comes first? I'd certainly agree that it solves the most pertinent problem for the most people, but I think it's more a case of order of importance rather than overall importance.
Stack21 · 12w
YUP. I’m starting a little experiment with my biz to prove this by stacking sats as the main savings vehicle for it. I deal with pool chem/products that have inflated so much since Covid that it ended up making the dollar savings future purchasing power feel useless when I needed new material/tr...
StackinBeets · 12w
Historically yes. Not so much these days 😂 I've been hodling 5 years now and I'm actually down in fiat terms. I know it's just a temporary circus but just wanted to mention it.
Andreas Griffin · 12w
Best savings with cold storage Bitcoin-Safe.org
Arotags · 12w
And those other use cases inherently keep working regardless of how many people want or use them. Bitcoin is for everyone.
FREEDOM · 12w
Money that can’t save can’t do anything else well. Bitcoin nailed saving first, the rest is optional.
Hasn · 12w
This is a directly attack on Bitcoin. I am not sure intentional or not. But you are wrong. Bitcoin is money.
Martin · 12w
sure... IF you never need to touch your savings for TEN YEARS.
Anti Spasti · 12w
That shift from cash to savings-vehicle killed Bitcoins momentum.
Azz · 12w
Yeah, but it needs settlement to maintain that.
AENEAS · 12w
This is only true IF the network is also used. Bitcoiners have allowed themselves to confuse "Never sell your Bitcoin" with "Never use your Bitcoin" and they're waiting for Fiat institutions to magically pump their bags somehow. https://blossom.primal.net/99b6bab15c932d67d0fd4d4a86f654c6e135974ca8...
Bitcoin Golf Pro · 12w
You make it sound like a Roth IRA. Its success is due to the fact that for the first and last time in our species, we have an open, decentralized, immutable protocol tethered to energy.