Toby McMann
· 6d
The treasury company model, at least in its current form -- loaded up with preferreds -- requires NGU, and by a lot.
Are you saying that, for the price to increase a lot, we need bitcoin to be used f...
Like gold - if you build derivative games on top of bitcoin (inflationary money) and people use it, and try to get higher interest rates in it to keep up with prices going up, many people will choose that (they need the income to support prices unnaturally rising and it “seems” like a safe bet. That centralizes bitcoin and the store of value ceases to be a good store of value because the rules change (Like gold)
Fortunately, this is protocol and the nodes matter. When that day arrives- and it surely will if this continues, there will be a fork and the coin that has the leverage on top of it versus the one being used in the economy will likely fail (as will all claims on top of it. (like bcash)
Just the long and winding road we must go through to for bitcoin to move us from a zero sum game to an infinite game.