Maybe I should give up? and stop trying to 'splain my lil selfie and just causing confusion amongst the peeps? Maybe that is one of PlanB's problems, too? Me and PlanB share something in common. too wordy.. PlanB the wordyman.
I sometimes find it hard to understand what you are saying but I do not think you should stop or change your habits based on me not understanding. I enjoy reading your posts as do many other people here in this thread I am sure. I sometimes find myself reading your posts multiple times to try and understand because you talk about a lot of things at once. That is not your problem but mine for not understanding. I hope I did not cause you to doubt or change your habits because you are one of the reasons WO is great
Of course, I was exaggerating a bit..
Since I am a bit over 23k posts, you probably should be able to reasonably conclude that I cannot really stop posting unless someone were to pull the plug to the main server
(whoops).
This is the catch-22 of bitcoin, and one of the more interesting topics of thought, in my opinion.
Some of the factors:
Some believe people will not want to SPEND a deflationary hard money, but rather will SAVE into it.
As long as purchases with crypto are taxable events it disincentivizes commerce.
Gresham's vs Their's laws... how does that play out?
My thoughts...
Even if Bitcoin was not "spent" much it would be useful. Currently in the west people are "saving" in the stock markets. You can't use stocks to buy things, and trades out are taxable events for most of us. And yet the stock market continues to flourish.
Same with gold. Gold is property. And people hedge with it.
But Bitcoin is a better hedge than either really. And the world is *juuuuust* figuring that out right now.
And here is the kicker. Bitcoin's properties make it the most natural electronic money ever. It is DESIGNED for commerce. So once people are in it they will start to move it around. I.E. SPEND it.
So... that's where it gets interesting. How will that unfold? Yes, I *do* think eventually people will spend their Bitcoin. I am just not sure about the path to that future.
Everything you said is on target.
But one thing to keep in mind: The wealthy elite that buy bitcoin will never spend theirs as they view it as an asset. They will hodl btc and borrow fiat against it. The currency of the wealthy elite is debt (free money).
They mean to set up a system whereby "spending bitcoin" is for the plebs, so that the wealthy elite can get a cut of every transaction. Moar easy money for them. Also as the plebs spend their bitcoin, then more btc will flow into the coffers of the wealthy elite over the long term. Which they will continue to stack.
So with regard to bitcoin, should we do what the wealthy elite do with it, or should we act like the pleb masses?
You should tailor what you do to your own situation..
fuck the wealthy elite
and
fuck the plebs.
Be your own man.
Woman and bots count, too, #nohomo.Do you guys really think people will use their BTC to pay for cinema halls, paying their Mortgages and shit? No fucking way.
Wrong.
If you mine btc as your sole source of income you will spend a lot of btc and stack some.
Right
If you buy and hodl.
Even if you buy and HODL, there is likely going to come to be some points in which you are going to start spending some, and spending some BTC is actually in your interest.
Let's say that you bought around 400 BTC in 2014/2015, and your average price per BTC was about $300.
That would have cost about $120k.. and is totally not unreasonable given that the price of BTC was in the mid-$200s for the overwhelming majority of 2015.
Anyhow, if your goal was to get to $2million value for fuck you status, but now your stash is worth $18 million.. Are you going to give too many shits if you sell a few BTC here and there? You shouldn't -even though other peeps might be telling you not to sell any of your BTC.. .
Fuck those other peeps trying to tell you what to do with your bitcoin. Spend some of your BTC if that is what you want to do.. you happen to be 9x over your own personal target, anyhow... which means you have excess.. and you can do whatever you like with that excess or don't do anything with it, if that is what you want.. that is what excess is all about.. having too much.. so you give few shits about getting rid of something that you have excess of.. there is no need to change your goals or to up your lifestyle or any of that.. unless you personally decide that you want to up your goals or up your lifestyle...
Poll
