bitman on Nostr: The latter option makes you a speculator, not a true consumer. Spending Bitcoin ...

The latter option makes you a speculator, not a true consumer. Spending Bitcoin instead of hoarding it shifts its role from a mere asset to actual money. Every time Bitcoin is used in place of fiat, the monetary demand for Bitcoin increases while demand for fiat declines. This creates a feedback loop where Bitcoin’s value grows as its use in exchange grows.

This is not just theory but historical pattern. When gold became widely accepted in trade, its purchasing power surged. When silver was demonetised, its value collapsed relative to Gold. The monetary premium vanished.

If gold were used as money today, its fiat price would almost certainly be far higher. Bitcoin is no different. Its long-term strength comes not from speculation, but from increasing monetary utility. The more we use it as money, the more it becomes money.