jasontheoriginal on Nostr: So here's the thing. No to all of this. This is just ignorance talking. This is ...

So here's the thing. No to all of this. This is just ignorance talking. This is classic not reading history. Bitcoin is something new, it needs my help, it will die with out me and Jack. Nope it is money and it is the very best money there has or will ever be. Very smart people already figure some stuff out. Austrian economists knew what they were talking about. Let the free market go where it pleases. Free market economies crave free market money.

Bitcoin is better than any alternative, hence you should not spend it. Be a free market individual and do what makes sense for you not what you think is best for Bitcoin. Altruistic actions don't represent a free market and guess what Bitcoin doesn't need you, sorry bro. If it makes you feel any better it doesn't need Jack either!!!

Gresham's law:

Bad money drives out good.

Simple, but what does it mean. When US took silver out of the quarters everyone put those quarters in a jar and never spent them again. They weren't altruistic and spent them cause uncle Sam said to. Sovereignty in quarters is better than this new shit, imma keep it. Good move. That quarter is now worth $5.68. You stashed 100 quarters good for you that $25 is now worth $568. When the Roman's put less gold in coins people melted the old coins and kept the gold. Free markets at work.

So what?

So you spending BTC now to be altruistic takes it out of diamond hands and puts it into salad hand who dumps it on the exchange for whatever they can get. Maybe you spend and replace or maybe you would bought that replacement BTC anyway?

Well if no one spends it, it dies and isn't worth saving, bro!

Wrong.

Bitcoin is the best money. It will win eventually you doing something that doesn't feel right is not acting in a free market way; en mass it slows the inevitable.

Well if it's money when do I spend it?

Thiers' law (the conclusion of Gresham's law):
People will accept the money they believe to be of highest long-term value, and not accept what they believe to be of low long-term value.

What does this mean?

During extreme case like during the great inflation in the Weimar Republic in 1923, as the official money became so worthless that virtually nobody would take it, people simply stopped accepting the currency in exchange for goods. That was particularly serious because farmers began to hoard food. Accordingly, any currency backed by any sort of value became a circulating medium of exchange. In 2009, hyperinflation in Zimbabwe began to show similar characteristics.

This will eventually happen to all FIAT. Because FIAT is a flawd system that talks a bond paying intrest to make new money to pay back a bond that was paying intrest. Ending in the inevitable FIAT debt death spiral. FIAT will start to die faster and faster around the world. Starting like dominos in Nation States that would have naturally had a FIAT collapse anyway. https://www.hardmoneyhistory.com/history-of-fiat-currency-failures/
As BTC establishes itself more and more as demand for high inflation money will fall faster with an established alternative. As each fails the entire value of that nations economy is absorbed into BTC and that nation prospers as BTC grows. The alternative is to stand up a new currency which is guaranteed 30 years of shit economy or accept USD, Euro or other monetary system as yiur currency where you don't benefit from The Cantillon Effect. So the entire value of your nation is inflated away 5% a year into the coffers of the US, European Union, whomever you choose. This leads to never ending poverty. People won't give their gooberments the option. Hard pass.

In the meantime people that want to get there hands on KYC free bitcoin or avoid purchasing fees will offer discounts to customers to purchase in BTC.

That is how a free market works. Bitcoin is free market money. Understand economics before you listen to people like Jack that know Bitcoin is awesome but don't truly understand what it is or why it doesn't need anyone to be its advocate. It's bigger than your altruistic fantasies.