In 1790, would you trade a few blocks of manhattan for...a steak? Would you sublet a room of yours in manhattan for a year...for a steak? Think about it...
Phundamentals's avatar Phundamentals
Circular bitcoin economies are what make diamond hands. Spending your bitcoin at Burger King doesn’t make much sense - you might as well sell it to an exchange - but I get why people think these are different. Spending your bitcoin on a friends time because you want them to see how valuable spending that time on your task is - this bitcoin isn’t sold off right away. This bitcoin is HODL’d within a community that wants to direct each others time in a particular and focused way. Bitcoin circular economies isn’t about buying soap or trinkets - though they may do so strictly for the fun and the ritual. It’s a deep agreement amongst the members that Bitcoin is crucial to their way of life. These communities and economies will outlast the Microstrategys and Blackrocks of the world by centuries. What are you building now anon? Who are you building for?
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If the world lost all of its real meat and I found people who could feed my family steak in perpetuity - it’s a no brainer. (Hypothetical - of course). Would I sell the only home I’ll ever own for a meal? No. If you cannot earn bitcoin then you are destined for Michael Saylors propagandized world designed to turn you back into a debtor. You can’t add value to an economy if you can’t earn as part of it.
So I was thinking about this. NON KYC #BTC are more valuable than exchange bought. Therefore if your friend accepts #BTC for payment, why not swap some FIAT for BTC and pay at a discounted rate. He/She now has Non-KYC coin technically tied to your account but effectively gone. And you got a job done at say a 10% discount. If there is in the future IRS/FINCEN/BANKING reporting requirements, then you can discontinue the practice.
It is a moot thought experiment People just piling up assets are going to be subordinated to those who build the circular economies. You can’t even live inside your Bitcoin and you can’t trade it for food unless you find a vendor who wishes to do so with you. Beats the current system for people who are parasitic but it’s pretty obvious that those who don’t see the value in spending it in the manner I’m describing are parasitic. Eating enough fiat money to buy bitcoin doesn’t make one productive.
Cpt. Charisma's avatar
Cpt. Charisma 11 months ago
The circular economy gets me a coffee. Hodling gets me rail roads, nuclear reactors, factories and homes.