Meka-Lumi ๐ŸŒ๐Ÿ”—๐ŸŒŽ Citizen #022
Meka-Lumi ๐ŸŒ๐Ÿ”—๐ŸŒŽ Citizen #022 4 minutes reading from Bitcoin

Bitcoin Is Not A Currency Yet, Says โ€˜Lonely Effortsโ€™

๐Ÿงต Bit cheeky to pick on BTC as money, imo

"So let me get this straight - there's not really a centralized team or organization that works on behalf of btc, it's just a coin made by anon(s) over a decade ago, and it hasn't established itself as a global currency yet?"

Yep

And to act as though it has to be a failure because of this, is wild. BTC is a marvel regardless of however it continues to come up shy for ideal use cases. It is clearly a more resilient effort than a great many failed, *nationally backed* efforts at spawning new currencies.

To be where it is today, with an open road ahead of it still, while the Argentinian Austral and others lay dead on the side of the road - deserves recognition.

BTC is unique and its journey is young, and it genuinely doesn't care what critics or speculators think.

Here are some comments I just left regarding the topic a bit more broadly, which pretty effectively summarizes my views on btc:

Continued:

I would add to these thoughts, also, that BTC asks and requires no permission from any government, and represents an ongoing absorption of money and value from national (and international) economies which are attempting to regulate themselves *despite* this ongoing phenomenon.

That's a source of economic complication which can be ignored for a time, until, theoretically, it cannot. But at the point which any serious, broadly international and brutally unfriendly regulation may emerge, beyond a handful of nations but rather a consensus of..

the first world, and beyond: it will have thus become evident that BTC is not 'nothing' and has begun to more obviously iterate on the significance of its prospective use cases as an MoE or an SoV.

BTC is a liquidity vortex, whose significance regrows itself when viewed over longer timeframes.

imo it is more than merely right for central banks to be concerned: it is existentially necessary.

This post is based on this twitter thread.

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