Is Plan B Going To Become Plan A
Hey JessAnarchists
I've been collecting Bitcoin for some time now, first as speculation. As a hedge now it's just to compete with other Bitcoiners to see how much we can get lol, whatever your reason for collecting BTC or other cryptos for that matter, none of us were doing it to secure the financial future of the planet, that is the beauty of its game theory.
BTC relies on us to be selfish; it takes our natural inclinations and puts it towards something good. The more we collect and HODL, the less their is in circulation, the lower the liquidity and the higher the price moves up.
Price movers
The price moves up through the increased cost of mining requiring miners to sell at a higher premium.
The price also moves up as countries continue to debase their currencies through inflation and quantitative easing.
The price also moves up as value from other alts that die get gobbled back up into BTC.
The price also moves up as people lose their coins over time.
All these pressures are fundamentals; they will work and continue to work overtime in their way to keep pushing up the price of BTC.
BTC is an F in terms of use
I've been using BTC in its various forms for some time and being a techy help. Still, it's far too complicated for the average person, we need products that are easier to use in terms of the interface, without sacrificing decentralisation or security, this is a massive task.
Then we need the re-indoctrination and education on finances for people; without these two we are not going to get BTC into enough hands of the people who need it most. I don't see the point of hedge funds and banks and countries owning BTC if the people don't hold it to benefit from their greed too.
The more satoshis we put in the hand of the individual, the better.
Piling into the lifeboat
Bitcoin, as it continues to grow over the last 10 years, has seen it move from weird internet money to the sound money of the people, but it's not ready for all people to use just yet.
Its slow, expensive and cumbersome to use for the average person and the idea of value is hard to grasp, we're used to simple 1s and 2s when it comes to price, not 0.000001, the mind has not adjusted to that shift yet but it will come with time.
I think BTC does offer, that a life raft, but we're not ready to save everyone on the Titanic, we need to build many more life rafts for people to choose the one they feel comfortable on as we ride this massive financial sinking ship to the bottom.
Plan B cannot bottom out
I never wanted plan B to become plan A too soon as it would hurt so many people in the process, we wanted a healthy migration across with time, where the two systems find an equilibrium.
Now I'm not so sure, I don't want people piling into BTC and see only expose its weaknesses and then are left in between a rock and a hard place and putting to much pressure on the network to save us.
I think the first 10 years was the awareness years, this next 10 years is the infrastructure years. I look forward to seeing better BTC build products, second layer solutions, improved security and more.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
If you liked this post, sprinkle it with an upvote or esteem and if you don't already, consider following me @chekohler and subscribe to my fanbase
| Browse & Earn Crypto | Stack Sats For Free | Earn Interest On Crypto |
|---|---|---|
 |  |  |
Yes all crypto needs to be easier for people to use
Lol i've tried to let people do it without my help and just watch what they do, gosh I can only imagine the amount of coins that are still going to be lost if this goes mainstream
Lol indeed.
I am a Jessie!
And the main reason is I don't have close to 1 BTC :(
Lol I'm with you on that one brother, I've got around 0.6 now from dollar-cost averaging my way in, hopefully, theirs still enough time for me to make up the rest, also all these alts are pretty distracting with their promise of gains lol
You are doing far better than me!
One day, hopefully just before the parabolic climb to 250k :D
Oh don't tease me like that, 250k? that would be insane. Lol that would probably even rip my HIVE holdings up a pretty penny too! I'm not ready for that yet, leave me to equity stack my Satoshis
I want 100k HIVE, then I'll start trying to stack some of these Satoshi's you speak of :)
Well you’re almost there so I guess I better move my ass on those Sats before you try and grab them out from under me!
I'm now basically competing to get to 1 BTC and Orca ASAP with myself and I'm pretty impatient with things like this so I'm just piling in haha. Oh yeah I love the fundamentals, great technology, power to the people etc, whole reason I got in the first place 🤑
Lol oh look at you so noble now, I thought you got in for the Lambos, hookers and the disco tech
Lol, You mean the lambos, hookers and doing lines aren't noble? 🤔
LOL atta boy I look forward transformation soon changing your handle to NickyBTC and having ads on YouTube and Facebook buy my crypto course and you can be a BTCillianire like me
Haha, don't rule it out, referral link city 😉
My feeling is that BTC is/has become a store of value, digital gold, and no longer the currency as envisioned by Satoshi. Just like gold used to back world currencies so does BTC back all the ALT values. When BTC rises all ALTs rise. When it falls they follow.
Even a coin whose blockchain has lost all trust in terms of immutability of the chain, like HIVE and STEEM, still has BTC backing them because of their BTC pairing. Without the ability to trade HIVE for BTC how much value do you think it would have on its own? My guess is that centralised Second Life Lindens would be (and in fact are) worth more. My daughter earns a reasonable passive income from her wardrobe designs she sells from a digital store there. Probably much more than most on HIVE, other than the token grinding circle jerking V.22.2 Cabal.
I think so too, I don't think Satoshi realised how bad our economy would become by the team BTC actually started to take hold and now instead of a currency its a store of value. I think, however, it must eventually reach a point where it tops out for me I see that as $1 000 000 because then the Satoshi would be worth a cent! Then we could deal in Satoshis and with the lightning network, we can do subsatoshi transfers so it would start to make sense as a currency by then.
Yeah the atomic swaps of the Lightning Network may save the day, however even with it being in production things are pretty quiet as to any stress testing results being done to it. It's not like they are screaming from the rafters, "We've cracked scalability!"
My feeling is that it will be the decentralising of all the ALTs which will take pressure off of the digital gold's network. BTC will increasingly become harder to find to buy let alone afford as time goes on, just like physical gold is becoming more of a hunt these days as it is stockpiled in the Chinese and Russian vaults or carried by the females of India.
Even if one could find a satoshi of BTC in some distant future one would have to pay such an exorbitant transfer fee to get it to your wallet that it will make fractional BTC purchases unrealistic. That is why it is soo important to amass as much of it as you can at this stage. Kudos to you for your efforts in that regard.
I’ve been following the updates closely as you can tell I’m a bit BTC fan and yes you’re right they not raving about it because it’s still wonky and adds a new layer of complexity since hou have to do it with different afdesss and open a payment channel!
As more nodes come online it will help I notice the number grow everyday it will take for more exchanges to support lightning and start running on the liquid network with DEXs to move it to the next level. It’s like all the pieces are still In the works and the golden threat still needs to connect them
It’s going to be interesting yes either in 10 or 20 years I’m the biggest moron for stacking Sats or the biggest genius lol let’s wait and see!
Regardless of what future awaits us you would get placed in the wise category in my books provided you balance that with other assets be they property, precious metals or even some good old fashioned fiat under the rug for those times they turn off the ATMs and they do turn off the ATMs!. 😎
Sadly I do not own any property by my calculations where I live there is nothing of value where the purchasing power exceeds is actually increasing higher than inflation. Perhaps in future, I'll pick some up as cash flow properties and then use the rental to purchase sats and then HODL the sats to service the debt on the property but we'll see, just not my game really don't feel like I know enough in that sector.
I've got some Krugerrands and Canadian maple leafs could like a few more ounces here and there. I for sure need to do that, store some fiat under the rug, I'm just apprehensive because in SotuhA Africa home invasion rates are quite high.
Even an acre of land out in the bush. My experience as a properry owner and former rooming house landlord is that police will always side with the property owner. It is the property owners that pay the wages of non-federal forces and they know it.
P.S. Love CAD Maples too! 😎
A $50/year safety deposit box can go a long way to ease home invasion fears.
lol perhaps but South African crime is a different beast people here don’t fuck around or feel like it’s an issue to smash in your front door and run riot
Ouch.
I could always do that, for sure could afford a bush property cash 💵 just thinking theirs better uses for my capital and I like having cash on me should I decide to jump ship and move somewhere else! So I can cover my setup costs I call it my shit hit the fan kitty
Yeah my approach is more the entrenched survival approach. Your approach is probably better suited for a younger man than an old fart like me. 😎