/biz/ - Business & Finance

>>30404215
The argument of SoV vs Currency was settled in 2017 with the Bitcoin Cash fork. If BCH succeeded we could have this debate, but BTC is the one that proved that fees are meaningless if it means to keep security. It's not the purpose of crypto to replace PayPal. The point of Bitcoin is to be the secure backbone layer of finance. Bitcoin never had the power nor the intention to replace the entire financial world. Scalable solutions would always need to be off chain. BUT at the same time if we accept that Bitcoin is the ultimate reserve currency and ultimate store of value any economy needs to be built with Bitcoin in mind as its the one we will default to when economic entities like banks are found to act in bad faith and nothing that tries create an economic system without Bitcoin in mind can ever succeed. This is also not a new idea or a "change of narrative" it's always been in debate for the end goal of Bitcoin since it's early development days.

>>28892148
You don't. Bitcoin is your reserve currency. Your savings account. The money you use when the financial system collapses and it's the currency you have to fall back to. It's power is in it's security and unmutability. People say Bitcoin is dinosaur tech but that's exactly what makes it so strong. It's a protocol that will stay mostly the same for the next 100 years and only when the last Bitcoin are mined people will maybe talk about changing it, but at that point it will be like the church talking about changing the Bible or the US changing its constitution.

Bitcoin is your hard money, never spend it unless you absolutely need to. Use a "lighter" currency for payment (like Fiat. Eventually Fiat will die because eventually every idiot on the planet will realize that a depreciating asset is best used by taking as much debt as possible, put it into assets and wait for the depreciating asset to depreciate to pay back. As long as interest is near 0 you can exploit this)

After Fiat dies, who knows what the second currency besides Bitcoin will be. Eth is a strong contender. Even fucking Doge because even though it's depreciating it's decreasingly depreciating, so Doge is a serious contender for 2nd layer money network

>>28087868
Bitcoin is the reserve currency, Doge is the float currency

>>27160376
Dollars have infinite supply too.
Unlike Dollars Doge has a stable inflation rate though.

You need an inflationary currency for economic growth and Doge is somehow the only big inflationary currency.

>>19424325
That was exactly how Hal envisioned bitcoin would be used. Bitcoin backed banks, similar to before the nationalization of currency.

I think Ethereum + Ren achieves the second layer he was talking about.

Satoshi knew about LN in 2010.

>>11375641
Nigger the revolutionary thing about btc is triple entry accounting(TEA) which means ((they)) can't print money out of thin air anymore. Sidechains for banks which offer their own currency which is cryptographically tied vie TEA to btc is just the natural evolvement.

Look at pic related this dude knew what was coming (he recieved the first btc transaction)