State of Bitcoin

[gscharton]

Still a noob, posting in hopes that it gets moved to the general discussion.

I'm a business owner in the Midwest. I accept Bitcoin in a very old world industry; transportation. I'm joining the conversation because what I lack in technical expertise I hope I've gained in business acumen and learning things the hard way.

Money lives on a spectrum. Store of value is on one far end and medium of exchange is on the other end. If you want Bitcoin to be a great store of value, it must continue to increase its utility as a medium of exchange. Someone mentioned "virtuos cycle" and that's what has already begun. +1 for bitcoin

There is little advantage for the unsophisticated to adopt this currency today. However, the everyday consumer will continue to come around. Thank the VC's and Silicon Valley types for this.

My next opinion is a bit more complex but ill do my best

My fiat money is assured debasement. Without question, my per dollar purchasing power will be less tomorrow than today. I have a strong incentive to spend.

Bitcoin doesn't work like fiat. With Bitcoin I have a free option at price neutrality, and pay a small fee for the upside potential

The worlds largest economies are consumption based. What Bitcoin will continue to dismantle is the consumer's incentive to spend frivolously. For the US in particular, this is positive. However, it will take time.

In the end, Bitcoin wins. It is perfectly logical. Bitcoin is the winner. If Bitcoin were more noble it might offer fiat a draw.

So if today you know Bitcoin wins eventually, then your future decision-making should regress to current day and you should be bullish as ever. I am.

As a businessman I have watched more efficient systems devour less efficient systems time and time again. So ask yourself, which system is the more efficient? Fiat or bitcoin?

[itsunderstood]

Fiat is as useful as the crap leaders who get offered as "candidates".  If politicians are worthless, which they are, then their fiat will eventually be debauched and destroyed as is being done right now by those overseeing the destruction of the US dollar.

BTC is like a bucket which will hold a lot of water, when all other buckets have sprung leaks.

As for BTC being useful by governments?  No, it is anti-government by its nature.  They must go away, bitcoin will stay.

I believe in gold, silver, iron, rolled steel, primers, bitcoin, gasoline, canned food, root cellars and milk cows and butter churns but I don't care one dry turd for a politician.