Quote from: death_wish on June 07, 2022, 07:10:13 PM

Is this what “friendly fire” looks like? Although “go out and spend your coins” seems like overly simplistic poor financial advice, pushing for mass adoption of Bitcoin as money looks pro-Bitcoin to me.

Quote from: JayJuanGee on June 07, 2022, 05:53:16 PM

Quote from: Next-door on June 07, 2022, 05:26:02 PM

Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.

Source : https://twitter.com/BitcoinNewslet1/status/1534219159806132224?t=j2MkpAh36xmVn6vzikwTXw&s=19

Fuck off with any of those implied assertions that: 1) something is wrong with bitcoin, 2) bitcoin is not sufficiently being adopted (or fast enough), 3) people need to spend their bitcoin in order for bitcoin to be valuable... 4) if people do not spend their bitcoin, then bitcoin is not going to survive (or have enough utility) 5) we need to do something quickly in regards to being able to spend bitcoin, otherwise the competition is going to eat bitcoin's lunch...

Use of Bitcoin as money is what gives it fundamental value.

If a thing has no value other than the prospect of reselling it for higher to the greater fool, that is a textbook definitional Ponzi. [Edit: Similar applies as for anything that has no value other than hopes of gaining “passive income” from shell games tantamount to financial perpetual motion machines.]

>99% of altcoins meet that description. Of each coin, as yourself: “Why would anyone want to hold this, other than hoping that the price goes up?” If the answer is “no reason”, then it is a Ponzi-style red-letter SCAM, period.

Too many newbies who buy into Bitcoin as mystified to discover that some people actually use it as money. Yes, really: Bitcoin is money! I myself first got into it, because I wanted to use it as money.

Usage as money also deters the catastrophically detrimental error of treating Bitcoin as a sort of a quasi-stock. When you buy Bitcoin, your dollar equity is zero. You are exchanging one currency (USD, etc.) for another currency (BTC). The only value you have is denominated in BTC, at a rate of 1 BTC = 1 BTC, unless you bring your BTC back to market; then, you get whatever exchange rate is available on the crypto-forex market at that time. This is critical to Bitcoin’s sound-money properties—it is independent of other currencies—and incidentally, it is essentially why Bitcoin has never been regulated by the SEC, et al. Bitcoin is not a security, and I want to batslap the hell out of every new “Bitcoin investor” who thinks of it as a sort of a newfangled stock-like thingie.

Edit: With the foregoing having been stated objectively, and without regard to authorship, a check of Next-door’s post history is unimpressive. Roll Eyes

I think that I sufficiently made my points in my responsive post that I would not proclaim to be the only ones that I am allowed to make.

Of course, we have all kind of things going on in bitcoin at the same time in terms of what makes it useful and what makes it valuable and what kinds of liquidation avenues exists (and what kinds of onboarding ways exist). The mere fact that guys might not be searching ways to buy coffee with their bitcoin does not automatically translate into their ONLY "speculating" bullshit dichotomy that you suggested in terms of SCAM and inferences towards those other various dumbass talking points that we heard from the bigblocker nutjobs in 2017 and we hear them repeated from time to time.

We know that Bitcoin is multi-faceted in its use cases. We know that there is a lot of why not both.. and your attempt to suggest that there are some deficiencies with some guys if they might not be striving to spend their bitcoin (aka lil precious ones) and they are using bitcoin accumulation (and HODL) as an investment, way of building wealth and like a stock (which is perhaps only part of the story or a temporary status for whatever that bitcoiners might be doing and uie-pooie don't like it) .

I should not even need to be responding to any pints that I made, but hey.. I am willing to entertain matters to some extent including to point out that we know that Gresham's law exists too, along the side of at least 7 network effects that are still building in connection with bitcoin and are at various stages of their growth as well as that some of those same network effects build upon others, snowballing and feedback loops.. but sure there is a lot more going on in bitcoin than merely being able to buy coffee or to go out and seek to spend our bitcoin because of the bullshit problematic aspects that I already pointed out in my earlier responsive.. that also mentioned the idea of options that seems to already come from having bitcoin, so long as we do not put our own lil selfies into some kind of pickle in which we spent most or all of our bitcoin, included but not limited believing that we have some obligations that are imposed on us from others.. or that we margined them away or got involved in various shitcoins because we thought that was going to help bitcoin that we speculate on shitcoins because we used to have had accumulated some bitcoins that we no longer have because we fucked up but we were employing our bitcoins in an "acceptable" way.

There are plenty of us who have transacted with our bitcoin through the years in a variety of ways and who have also engaged in some spend and replace too.. depending upon how we might have considered managing our own BTC accumulation, maintenance and/or liquidation targets and who are likely to continue to spend our bitcoin (to the extent that we have any left or that we have figured out ways to balance our BTC and dollar balances in ways that provide us with more, rather than fewer options than if we were to ONLY have dollars), but we can make those kinds of choices, too.

Furthermore, in the spirit of Gresham's law, if we already can appreciate that Bitcoin is the best of moneys, why would we want to spend it first (as I already referred to that)?.. Anyone who holds bitcoin for a long time is going to want to have more liquidation avenues in bitcoin, and so with the passage of time, some of these liquidation have developed, and some of them have shrunk away. There are ongoing developments, and there are all kinds of ways that people are promoting bitcoin and attempting to increase liquidity avenues, which still does not necessarily mean that any of us should feel compelled to spend our bitcoin, even though I have no problem with spending my bitcoin if there are ways to accomplish such. but does not mean that I have to go out and evangelize bitcoin or evangelize liquidation avenues.

There are a variety of reasons for changes in liquidity avenues, and I doubt that I have any need to get into those kinds of discussions any more than I already mentioned a few of the balancing issues that are likely to vary quite a decent amount between HODLers/accumulators.. and surely, it seems that lighting network is also helpful for increasing the various ways that BTC HODLers might be incentivized to part with more of their lil preciouses... but there is no need for them to part with their lil precious until they feel that they want to or need to including that they can treat bitcoin as an investment .. for sure, bitcoin happens to be one of the strongest investment vehicles that have been made available to normies on a widespread level, so surely it would not hurt to consider bitcoin as an investment... and in a lot of cases quite preferable for normies to consider bitcoin as an investment since so many folks (normies) tend to have a lot of difficulties investing, but bitcoin could help thing to at least ave access to an pristine asset that might not have really been historically available to them or their ancestors... so don't get fucked out of your bitcoin, merely because someone on the interwebs (perhaps a delusional bigblocker or a shitcoiner) tells you that you have an obligation to participate in the increasing of bitcoin liquidity avenues.. blah blah blah.