Unspent Bitcoin is not useless:
1. My HODL'd Bitcoin prevents my long term savings from being debased.
2. My HODL'd Bitcoin decreases the reservation demand for the US Dollar, making it slightly less easy for them to get away with money printing.
3. My HODL'd Bitcoin means they can't steal *my* purchasing power to fund immoral things like wars, welfare, subsidies, the ATF, and much more.
As for actually spending sats, the main factor is Gresham's Law: I will always spend dollars before sats (even if I have someone like Strike instantly convert those dollars to sats to pay a Lightning invoice). If/when I can no longer convert dollars to sats, then I'll earn and spend sats directly.
As for when I'll spend my long-term savings (which would be the same question if the stack was instead gold, or real estate, or stocks, etc.), that is an open question. I'm not really a fan of "retirement", I don't intend to quit working, so the goal is to cashflow even most large purchases I might want to make. Otherwise maybe I'll come across something that I'm willing to trade a small portion of my stack for: a small business, a 2nd/3rd/4th house, or a private island lol. Anything left over I can give away or pass on to my future kids.
ImmutableManty /
npub16h…2jpsu
2024-03-23 16:30:20
in reply to nevent1q…0n5g
Author Public Key
npub16hnr97hysrldu07jm6q0uduqj3c8p5sxqkt4c0muu8mjg0k5acasf2jpsuPublished at
2024-03-23 16:30:20Event JSON
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"content": "Unspent Bitcoin is not useless:\n1. My HODL'd Bitcoin prevents my long term savings from being debased.\n2. My HODL'd Bitcoin decreases the reservation demand for the US Dollar, making it slightly less easy for them to get away with money printing.\n3. My HODL'd Bitcoin means they can't steal *my* purchasing power to fund immoral things like wars, welfare, subsidies, the ATF, and much more.\n\nAs for actually spending sats, the main factor is Gresham's Law: I will always spend dollars before sats (even if I have someone like Strike instantly convert those dollars to sats to pay a Lightning invoice). If/when I can no longer convert dollars to sats, then I'll earn and spend sats directly.\n\nAs for when I'll spend my long-term savings (which would be the same question if the stack was instead gold, or real estate, or stocks, etc.), that is an open question. I'm not really a fan of \"retirement\", I don't intend to quit working, so the goal is to cashflow even most large purchases I might want to make. Otherwise maybe I'll come across something that I'm willing to trade a small portion of my stack for: a small business, a 2nd/3rd/4th house, or a private island lol. Anything left over I can give away or pass on to my future kids.",
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