I suspect Jeff Booth is correct that "Bitcoin as only a store of value will fail as a store of value." We already see this today with the virtually non-existent merchant acceptance of gold or silver. Sure, PMs still have value but practically-speaking, only in limited scenarios unless you're willing to trade it for well below the spot price goldbugs are fond of quoting.
On a recent episode of a podcast which I forgot to follow, the founder of ppq.ai discussed how TradFi overwhelmingly isn't interested in processing micropayments below about ~$10 and now the result is just about every icon on our home screens is tied to some overpriced monthly or annual subscription.
Bitcoin has the potential to fix this but it's gonna take more than the future promise of being able to trade it for 'muh Republic Credits' on some government-approved exchange that will boot your ass the first time you say something offensive online.
PaulAllen / Paul Allen
npub1m6…79dnn
2024-09-25 10:57:15
in reply to nevent1q…79la
Author Public Key
npub1m6x20f4n7uc5ayvjr4xut6g4ldau90fjz202d9nrythl5jq9p3xq579dnnPublished at
2024-09-25 10:57:15Event JSON
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"content": "I suspect Jeff Booth is correct that \"Bitcoin as only a store of value will fail as a store of value.\" We already see this today with the virtually non-existent merchant acceptance of gold or silver. Sure, PMs still have value but practically-speaking, only in limited scenarios unless you're willing to trade it for well below the spot price goldbugs are fond of quoting.\n\nOn a recent episode of a podcast which I forgot to follow, the founder of ppq.ai discussed how TradFi overwhelmingly isn't interested in processing micropayments below about ~$10 and now the result is just about every icon on our home screens is tied to some overpriced monthly or annual subscription.\n\nBitcoin has the potential to fix this but it's gonna take more than the future promise of being able to trade it for 'muh Republic Credits' on some government-approved exchange that will boot your ass the first time you say something offensive online.",
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