Bitcoin is much more than only a store of value. It’s money and thus it’s also a medium of exchange.
It’s not dump to have a circular Bitcoin economy, because than the producer gets something accurate for his/her work as well.
And when you stack more than you usually would and spend it with people who sell their goods or services for Bitcoin, than we can speak of hyperbotcoinization bc everything is valued in Bitcoin.
Your theory is still a fiat world with #Bitcoin as savings technology, not really a revolution bc we had the same with the Gold Standard.
What would be the difference when everyone is holding their coins in hardware wallets for eternity and not spending a single day than with holding gold in vaults?
CarlBMenger / Carl B Menger
npub10w…4v22x
2023-05-23 07:20:58
in reply to nevent1q…844h
Author Public Key
npub10wv37amdqnv8edw5yktgsxr62g8k4lqkk2u66fk6c6uwuakzssxsf4v22xPublished at
2023-05-23 07:20:58Event JSON
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"content": "Bitcoin is much more than only a store of value. It’s money and thus it’s also a medium of exchange.\n\nIt’s not dump to have a circular Bitcoin economy, because than the producer gets something accurate for his/her work as well. \n\nAnd when you stack more than you usually would and spend it with people who sell their goods or services for Bitcoin, than we can speak of hyperbotcoinization bc everything is valued in Bitcoin.\n\nYour theory is still a fiat world with #Bitcoin as savings technology, not really a revolution bc we had the same with the Gold Standard. \n\nWhat would be the difference when everyone is holding their coins in hardware wallets for eternity and not spending a single day than with holding gold in vaults?",
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