I tend to disagree. Measuring Bitcoin in something that is fundamentally rotten only casts a bad light on the measuring stick, not on Bitcoin itself.
Imagine this: two or more large players control the majority of a fiat currency. They can trade the underlying asset among themselves and drive its fiat price effectively to whatever they want it to be. That does not mean the underlying asset is broken; it means the system that allows this behavior is.
I understand what you’re trying to say, and for most of humanity this is the reality we live in today. However, once you see the rot and truly understand it, any rational thinking person should reject the system entirely. That includes pricing Bitcoin in USD.
This again highlights that the real driver behind Bitcoin ultimately prevailing is adoption and education. The more people understand what’s happening, the more will opt out, and the more stable Bitcoin circular economies will become.
NGU is fun and appealing in a fiat world, but if you actually want to escape fiat’s grip, you have to reject it completely. In my view, NGU’s main function is to attract new people, with the hope that they eventually see the rot for themselves and choose to opt out.
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Of course you disagree 🫠
The fact that Fiat is rotten means nothing. It’s still the measuring stick of most things.
Property = measured in Fiat
Gold = measured in Fiat
Rice = measured in Fiat
Silver = measured in Fiat
Wheat = measured in Fiat
Iron Ore = measured in Fiat
Cotton = measured in Fiat
Rubber = measured in Fiat
Coffee = measured in Fiat
Cocoa = measured in Fiat
Copper = measured in Fiat
Aluminium = measured in Fiat
Platinum = measured in Fiat
Agricultural Machinery = measured in Fiat
Weapons = measured in Fiat
Just because Fiat is rotten and just because you choose not to use the measuring stick oh the world does not mean my premise is incorrect.
It merely means you are avoiding the truth and avoiding reality.
Accepting fiat while knowing what it is and what it does is, to me, accepting defeat. I’m doing the opposite.
I see reality for what it is, and I don’t want that system for my children. I’m not avoiding the problem, I’m fighting it. Big difference.
If no one pushes back against the system, the system will never change. You can choose to accept fiat, or tell yourself that Bitcoin can only succeed through NGU, but I choose to believe there is a better alternative. That belief is the hill I’m willing to die on.