OmniFinn on Nostr: Listen up. #Bitcoin is not scarce (for the majority). Let me explain. Bitcoin will ...
Listen up. #Bitcoin is not scarce (for the majority).
Let me explain.
Bitcoin will not be scarce to most individuals because they won't care if it's held by a custodian or if they have control of their keys. This will keep real bitcoin prices suppressed.
Those who value self-custody can accumulate real bitcoin at a discount while the ignorant majority engages in a game of musical chairs.
The situation won't be much different from the current #fiat system, except for one crucial aspect: the possibility to opt-out. Bitcoin offers an alternative for those who want to escape the legacy financial system.
Most people will never care how their money operates, just like they don't care about the inner workings of their cars. Number go up, but it's mostly due to bitcoin being denominated in hyperinflating fiat currency rather than the immediate adoption of hard money standard.
We're unlikely to witness hyperbitcoinization during our lifetimes. So, take a breath and remember that bitcoin's path to widespread adoption will be gradual. Don’t worry about missing out on bitcoin before it "moons.”
Bitcoin's true value lies in its potential to disrupt the existing financial system, offering more control, security, and autonomy to individuals. Who even cares about the dollar price?
The concept of scarcity in bitcoin extends beyond its trade value. It's about having sovereignty over your finances and securing generational liberty.
In conclusion, bitcoin's scarcity for individuals will be determined by their time preference, level of awareness of and desire for self-custody.
Stop waiting for the rocket ship, stack in silence, wield your freedom… and build the moon.
Published at
2024-09-09 23:19:30Event JSON
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"content": "Listen up. #Bitcoin is not scarce (for the majority).\n\nLet me explain.\n\nBitcoin will not be scarce to most individuals because they won't care if it's held by a custodian or if they have control of their keys. This will keep real bitcoin prices suppressed.\n\nThose who value self-custody can accumulate real bitcoin at a discount while the ignorant majority engages in a game of musical chairs.\n\nThe situation won't be much different from the current #fiat system, except for one crucial aspect: the possibility to opt-out. Bitcoin offers an alternative for those who want to escape the legacy financial system.\n\nMost people will never care how their money operates, just like they don't care about the inner workings of their cars. Number go up, but it's mostly due to bitcoin being denominated in hyperinflating fiat currency rather than the immediate adoption of hard money standard.\n\nWe're unlikely to witness hyperbitcoinization during our lifetimes. So, take a breath and remember that bitcoin's path to widespread adoption will be gradual. Don’t worry about missing out on bitcoin before it \"moons.”\n\nBitcoin's true value lies in its potential to disrupt the existing financial system, offering more control, security, and autonomy to individuals. Who even cares about the dollar price?\n\nThe concept of scarcity in bitcoin extends beyond its trade value. It's about having sovereignty over your finances and securing generational liberty. \n\nIn conclusion, bitcoin's scarcity for individuals will be determined by their time preference, level of awareness of and desire for self-custody.\n\nStop waiting for the rocket ship, stack in silence, wield your freedom… and build the moon.\nhttps://m.primal.net/KlSd.jpg",
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