you have no Idea what I think or believe.
and for that matter you are in denial that Swiss fear btc rather than welcome it.
Paranoid, old, and diabetic. Let's not pretend these are traits of a scientist that is able to correctly interpret what something like a single event of failing to gather enough signatures without analysis could mean. Nobody with a working brain among the average people is "afraid" of BTC, the only ones that could have a reason to fear it justifiably are those that stand to lose power and control should it become more widespread (and those people are very few). Some Bitcoiners are so old that they themselves have started writing Bitcoin obituaries instead of learning a single lesson from the past obituaries.
This case here does not say anything at all about the reasons for which it failed and what the people actually do think or do not think about Bitcoin in said country.
Anyone with a working brain, or any scientific experience, would know that you would have to analyze this situation and gain a lot more data about it before one could even start to consider what it really means. Without such, you could throw 100 theories and they would all be equally valid.
Well in most cases not, but you have to be specific who you blame. Saying that the state adopting Bitcoin for whatever reason is not great is not the same as blaming individual users for applauding State adoption even when it is done for the reason.
Yeah, I agree. But the general tendency in these threads is "strategic reserve gud, we go moon!" (in reality, sometimes I get the impression some people want the State to be the "greatest fool" so they can dump their tokens for 1 million/BTC). I haven't really read nuanced posts in this thread unfortunately. So I reserve the right to counter unnuanced stuff with unnuanced stuff sometimes
Just to make people think a bit. Not every answer has to be a doctoral thesis.
You are absolutely right to criticize those and that those are common. Most users here are naive and do not have neither experience nor knowledge to evaluate these subjects. They are usually either fully pro or fully against, both of which are invalid positions in majority of things. Strategic reserve can be a good thing but it can also be a bad thing, and in conclusion to this part I give you the right to counter.
Where I'm however not nuanced is that it should be clear that a Bitcoin landscape with governments / central banks capturing too much of the supply (>5 million in total for all governments, I'd say) would be very risky regarding the dynamics of a possible "government cartel" influencing Bitcoin development. Even if a single government is pro-Bitcoin and adopts a strategic reserve as part of a pro-Bitcoin policy with strong protections to privacy and censorship resistance, if the political landscape changes, this reserve can turn into a risk. Basically, they'd need to approve a constitutional change for me to approve a millionary reserve for any government or central bank.
Exactly, until there is a big shift in the reasons for which Bitcoin is adopted there is always going to be a huge risk with these things. Naturally someone who adopts Bitcoin for the right reasons will call for self-custody, widespread distribution of Bitcoin and similar things. Someone who adopts it for the wrong reasons will not care about these things or will even actively fight against them.
But gradual Bitcoin adoption is fine and can justify a small strategic reserve, like in the case of El Salvador.
I do like these concepts more in the long run, some bigger countries could do even 100 Bitcoin per day.
People are very short sighted in my opinion. If this was the 'only way' to increase adoption then what happens if this initiative is successful? There is a point where the Bitcoin adoption rate reaches a peak. We have to accept that. Unlimited growth is impossible. So if no other thing can be done to increase adoption after their country adopts Bitcoin as a Reserve, what happens next? Do they become disappointed and sell their Bitcoin because no more can be done?
Yes, but also no. Fiat is infinite, as long as they keep printing more fiat there is no plateau on the amount of money that can be thrown into Bitcoin. Sure there will be diminishing in the value being thrown, but there already is. A point where we reach a real plateau is so far away and so utopian that it should not even be brought into discussion at all IMHO. It is like asking this question: Everyone in the world has the amount of Bitcoin that they want, nobody wants more and everyone has it. Will the price fall because people will start to sell as no more adoption can happen?
