Bitman #FixTheFilters
4d ago
Bitcoin stands on two legs: Store of Value and Medium of Exchange.
Most people only use the right leg, treating it like digital gold while ignoring the left. Not because they can’t use both — the tech is ready — but because they choose not to. Some even argue it’s smarter to limp. 🤨
But a one-legged Bitcoin isn’t sovereign. It’s crippled.
Most people only use the right leg, treating it like digital gold while ignoring the left. Not because they can’t use both — the tech is ready — but because they choose not to. Some even argue it’s smarter to limp. 🤨
But a one-legged Bitcoin isn’t sovereign. It’s crippled.
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Replies
2Pac
@2PacStackur
4d ago
The sovereignty comes from using the free will to make the decisions on how to use your bitcoin. Who are you to say how people should or shouldn’t use it? The network does what it’s intended to do the users decide for themselves what is best for them, that is the free market working as it should.
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Bitman #FixTheFilters
@bitman
4d ago
The users mostly decide what other influential figures told them to do and think. Take you for example - if you understood the implications of monetary demand, you wouldn’t be arguing with me about free markets and you would be looking for ways to spend and replace your Bitcoin.
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2Pac
@2PacStackur
4d ago
You can make whatever assumptions you want about me but I do spend my bitcoin. The only rules in Bitcoin that matter are the rules written in code. I do not concern myself with other users I do want is best for me with my Bitcoin.
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Bitman #FixTheFilters
@bitman
4d ago
What if I tell you that you can have more Bitcoin while you spend it daily and that you can verify this for yourself in just two months?
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2Pac
@2PacStackur
4d ago
Yea if you buy more bitcoin than you spend then yes. Pretty simple.
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04 more reply(ies)
Neal
@hylomorphic
4d ago
I understand and agree with the point that we should encourage people spending day to day.
But the leg analogy is off though.
Philosophically, money has 3 formal properties: MoE, SoV, UoA - MoE being its essence.
Anything people exchange, is money, the act of exchanging it brings money into being, and all three formal properties are there necessarily.
it makes no sense to say a money could be missing a leg.
It would be like saying a person doesn’t have a height or width, just because they are short or skinny.
We can compare material characteristics to say this money is better than that money.
Formal properties are on/off
material characteristics admit of more or less.
But the leg analogy is off though.
Philosophically, money has 3 formal properties: MoE, SoV, UoA - MoE being its essence.
Anything people exchange, is money, the act of exchanging it brings money into being, and all three formal properties are there necessarily.
it makes no sense to say a money could be missing a leg.
It would be like saying a person doesn’t have a height or width, just because they are short or skinny.
We can compare material characteristics to say this money is better than that money.
Formal properties are on/off
material characteristics admit of more or less.
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Bitman #FixTheFilters
@bitman
4d ago
The third leg is between the other two 😏
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Neal
@hylomorphic
4d ago
even if it’s a little smaller, it’s there 😆
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Bitman #FixTheFilters
@bitman
4d ago
I certainly hope so 😆
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