1) It's nearly lost its place as a SoV for anything longer than a year or two, and that only in the form of cash bills. But most people have no value to store.

2) I could see Bitcoin gaining fastest in the business realm, where they often need to store reserves for years at a time and Bitcoin offers a tax advantage in some countries, like Germany.

3) Inspiration for this 🧵 View quoted note →

* If you hold gold or Bitcoin for at least 1 year, it is tax-free, in Germany.

True. 99.999% of people aren’t going to run a self sovereign lightning node. So bitcoin needs to be more efficient than fiat also, Bitcoin outperforms fiat because a farmer in Kenya can sell his goods to some random dude in west. Can’t do it with fiat. So majority of people are slowly gonna adopt bitcoin.

Yeah, a lot of us got into Bitcoin to save money on international wires. That's the obvious, more universal use case, so far.

If they start using it to trade oil, for instance, it could become the premier currency within that realm.

I know everyone here hates democracy 😜, but I think better-functioning democracies like America or Germany or Japan will Bitcoinize faster.

True, central banks can make their fiat work efficiently in their local regions but will never make it work efficiently for international trades or remittances. That’s why bitcoin will always have an upper hand over fiat.

If enough people use it for that, they may eventually start to complain that it's so hard to use at the grocery store. That was my path, so it's the one I always think about, first.

The use of Bitcoin is also nearly tax-free, here, so long as you do not earn profits over the €1000 limit per year.

Bitcoin und Steuer: Das gilt beim Handel mit Kryptowährungen | Steuern.de

Für den Verkauf von Bitcoin und Co. gelten spezielle Steuerspielregeln. ✅ Bei Verlusten lassen sich mit Kryptos sogar Steuern sparen. ✅ Jetzt ...

I think people are initially scared of this technology. But when more and more people start using it, they realize it’s way easier to use it than fiat. Like it’s so tough to open a bank account now and with CBDCs, they are gonna add more friction to it, meanwhile a 10 year old can just download a lightning wallet and start sending and receiving money. And with time the UX/UI are gonna improve more dramatically.

This means Bitcoin is great as a SoV and for small purchase or zaps, but terrible for paying your rent.

You're right. I do hate democracy. 😎