Damus
Azz · 2w
Bitcoin maximalist falsehood #2: “Never sell your Bitcoin.” Bitcoin is money. Holding $100 worth of Bitcoin may support scarcity, but it does little to establish Bitcoin as a medium of exchange o...
SatsAndSports profile picture
"You cannot build a monetary system by treating the money as too sacred to use"

Well actually, this is the plan for bitcoin, and it's the right plan

It's the most ambitious plan

It's the only way for bitcoin to be the world's MoE

We make an asset that nobody wants to spend and which can be transferred easily and quickly with final settlement (Lightning)

If you think that contradicts the "world's MoE" goal, think about the game theory some more
1
Azz · 2w
I have thought about the game theory. The strategy you describe is to make Bitcoin the world’s only medium of exchange by persuading everyone to hoard it until competing currencies disappear. That allows those who accumulated Bitcoin first to gain from the labour of everyone who must acquire it la...