I reread Satoshi Nakamoto's whitepaper from time to time. Please check me if I am wrong but based on what I read, I feel like bitcoin's intention was not to replace the dollar or base the price off of the dollar. Most of the posts I see here or anywhere is about seeing if it will reach a certain fiat dollar value. And it shouldn't be that way. Am I wrong in this thinking? Should I continue to say to myself "btc will reach hit 100k", When in reality its intention was to facilitate a medium of exchange without the need for a central authority? If bitcoin gets mass adoption it should become deflationary. Now with the lightning network speeding transactions, why stress over how much the price of bitcoin fluctuates when it should provide an actual service as it was intended to be? I just feel like if this thing is intended to revert it back to fiat to make purchases and "get rich" off of fiat then somehow we have distorted Satoshi's vision. Maybe we shouldn't be looking at it like some "store of value" because what value are we placing it on? Fiat? I dunno i'm just thinking maybe at the moment it is a store of wealth, but not for long when it gets mass adopted. What are your thoughts on this?
[link] [comments]
No comments:
Post a Comment