Damus

Recent Notes

darnzen profile picture
Started my first wheel thrown teapot. Many ways this can still fail but we'll see. Nature of #pottery is to take the leap and hope for the best.
note1ksc7p...
darnzen profile picture
My wife got me one of those PCB art from you for Christmas. I've been scratching my head on how to mount it for framing. How did you secure it to the matting? I don't want to ruin it with the wrong glue!
calle · 55w
Bitcoin is no longer legal tender in El Salvador https://image.nostr.build/018da7d59895f3bcfa41317f1629536126f85014ec9ca92b88e2040d8ba3f434.jpg
darnzen profile picture
"legal tender" is a hammer where the government makes it a legal requirement to accept a currency for contract settlement, or for goods and services.

Fiat requires "legal tender" designation because it is worthless paper.

Bitcoin does not need "legal tender" because it is "real money" and in a free society people should be free to accept it or not. If bitcoin is a better money, people will prefer it, or suffer.

Eventually people will only accept fiat when they are forced to because of legal tender laws. They will preferentially trade for hard assets or barter or "favors".

At some point, they will choose to not comply and refuse transacting in fiat. At that point the currency gets reset. This has happened 4 or 5 times in past 50 years in Argentina for instance.