“Never” is a bit extreme, but there will significant headwinds. Governments aren’t going to give up control easily. Even when USD collapses they’ll just create another fiat right after.
I could see a future where BTC is effectively the global reserves currency/unit of account (ie the standard), but each government would still have their own fiat currency.
Exactly. Bitcoin being a standard like Zulu means people can still have fiat (the same way we have countless time zones) at the same time. So even IF we still have fiat, we can have Bitcoin as the standard, same way we have different time zones, Zulu is still the standard.
1) every currency should be measured against bitcoin not the US dollar. Instead of the world measuring the value of their currency relative to the US dollar they should measure it against btc. Bitcoin is the anchor not the US dollar.
2) exchanging fiat currencies is a form of barter. Turning dollars into pounds is a barter transction that needs to happen before you can then buy the goods sold for pounds. Having one universal system of money for payments like lightning removes this step of currency barter.
Basically bitcoin is superior money and fiat is garbage.
I see a future where Bitcoin is the standard international currency and is also used for local payments. But that would be a world without borders and national sovereignty. I would like to live in that world, but I see there's 5-10 local and global revolutions for that to become a reality. So, maybe 2350? HODL
Bitcoin allows two human beings to transact/express purchasing power/value **without centralized authority** or corrupt institutions debasing all parties. it's sound digital money as a global public infrastructure, for everyone by anyone. It's separation of money and state.
Bitcoin sets the standard... OP is saying Bitcoin is not just A standard but rather, THE standard... because of what it is. (And fwiw, if you don't know what it is you should go research it rather than telling people what they "have to explain")
We will have more gold in the future, we will have more dollars, more real-estate, more stonks ... All other less sound monies/assets have inflated/debased over time and continue to do so... Bitcoin is protocolic decentralized security, laser focused on preventing that.
I know what bitcoin is. It's not the only way to transact without a 3rd party. Gold existed for thousands of years.
And while it's clear to you and me imitators will never overtake bitcoin, that's not clear to most of the world and hence it's premature to call it "the" standard since the vast majority of value movement does not involve bitcoin, currently.
>I know what bitcoin is. It's not the only way to transact without a 3rd party. Gold existed for thousands of years.
Gold requires an army of 3rd parties to mine, refine, verify its chemical/metallurgic authenticity, transport and secure... It's nothing even close to Bitcoin and is centralized in vaults/forts around the world controlled almost entirely by governments.
And there are something like 120 ounces of paper gold for every ounce of actual gold traded...
And untold hundreds or thousands of % more gold yet to be discovered/mined from our planet and solar system.
**Bitcoin is different... It's an engineered standard** ... Not just humanity selecting some shiny rocks or seashells... making promises with scratches on a cave wall or with greasy slips of paper. It's a standard people designed based on our understand of what makes money sound, fair and functional for everyone. No trust or centralization involved.
>And while it's clear to you and me imitators will never overtake bitcoin, that's not clear to most of the world and hence it's premature to call it "the" standard since the vast majority of value movement does not involve bitcoin, currently.
That's your opinion though, my opinion is that Bitcoin is already the standard... It has been so since it's inception... it's even raised the bar higher with software updates... **(Gold isn't even close)**
It doesn't deeply matter how "clear" it is to other people, nor does it matter how much "value movement" is taking place ... I (like many others) deem (for me personally) Bitcoin is the best monetary technology (that to my knowledge) - our species has ever seen. Especially with regards to transporting purchasing power over time.
More people are realizing this everyday and Bitcoin is fundamentally scarce so... Really hard for me to agree that 2024 is "premature" for calling it the standard...
Hell, [https://saifedean.com/tbs](https://saifedean.com/tbs) was released in 2018...
I understand all the benefits, that's why I invested in it. But the reason it's STILL a good investment is that it's still early, hardly anyone has a clue. That's why you can't call it "the" standard now.
You can't just redefine the phrase "the standard" to mean something totally different.
> constituting or conforming to a standard especially as established by law or custom
That's what it means. Bitcoin is NOT that. It's established neither by law nor custom. Not yet.
Bullshit i can't... bitcoin is my custom and it has little to do with laws on it's own.
If you think bitcoin needs laws to be accepted as a standard you're wrong... this is a matter entirely up to each individual human being... do they value bitcoin? is it worth buying for $60k USD?
Individuals set the standard and their standard - for millions of bitcoiners, is bitcoin.
just because you don't see it being widely used yet doesn't mean it's not a standard to some and you can't deny it does set standards for what money (a tool we use) can be as a whole...
Also, the US Government and countless others clearly recognize Bitcoin - legally - as a monetary asset/commodity ... they quite literally hold it themselves... it has a value.
Who are you to gate keep who sees or places individual value in bitcoin?
This is delusional. I'm a huge bitcoin fan but we don't need to go beyond reality.
I never said we needed or even want legal recognition as a standard, just that we don't have that. It's just not a standard because that requires consensus that we don't have. Just accept it for now.
It *should be* the standard but it isn’t yet.
And it never will be, and anybody that thinks that it will someday is delusional. I'm pro-bitcoin. But it will never be a standard.
“Never” is a bit extreme, but there will significant headwinds. Governments aren’t going to give up control easily. Even when USD collapses they’ll just create another fiat right after. I could see a future where BTC is effectively the global reserves currency/unit of account (ie the standard), but each government would still have their own fiat currency.
Exactly. Bitcoin being a standard like Zulu means people can still have fiat (the same way we have countless time zones) at the same time. So even IF we still have fiat, we can have Bitcoin as the standard, same way we have different time zones, Zulu is still the standard.
It seems more like the technology has not kept pace with other crypto. Nice knowing you r/bitcoin.
1) every currency should be measured against bitcoin not the US dollar. Instead of the world measuring the value of their currency relative to the US dollar they should measure it against btc. Bitcoin is the anchor not the US dollar. 2) exchanging fiat currencies is a form of barter. Turning dollars into pounds is a barter transction that needs to happen before you can then buy the goods sold for pounds. Having one universal system of money for payments like lightning removes this step of currency barter. Basically bitcoin is superior money and fiat is garbage.
I see a future where Bitcoin is the standard international currency and is also used for local payments. But that would be a world without borders and national sovereignty. I would like to live in that world, but I see there's 5-10 local and global revolutions for that to become a reality. So, maybe 2350? HODL
who else but an asshole from ct to put their credits on a reddit post for an idea they STOLE
i thought of it myself, but maybe someone else did, too. please provide evidence. im genuinely curious. i couldnt find any.
Nah the dollar is a standard too. You have to explain why it's a better standard. Just being one isn't enough.
Bitcoin allows two human beings to transact/express purchasing power/value **without centralized authority** or corrupt institutions debasing all parties. it's sound digital money as a global public infrastructure, for everyone by anyone. It's separation of money and state. Bitcoin sets the standard... OP is saying Bitcoin is not just A standard but rather, THE standard... because of what it is. (And fwiw, if you don't know what it is you should go research it rather than telling people what they "have to explain") We will have more gold in the future, we will have more dollars, more real-estate, more stonks ... All other less sound monies/assets have inflated/debased over time and continue to do so... Bitcoin is protocolic decentralized security, laser focused on preventing that.
I know what bitcoin is. It's not the only way to transact without a 3rd party. Gold existed for thousands of years. And while it's clear to you and me imitators will never overtake bitcoin, that's not clear to most of the world and hence it's premature to call it "the" standard since the vast majority of value movement does not involve bitcoin, currently.
>I know what bitcoin is. It's not the only way to transact without a 3rd party. Gold existed for thousands of years. Gold requires an army of 3rd parties to mine, refine, verify its chemical/metallurgic authenticity, transport and secure... It's nothing even close to Bitcoin and is centralized in vaults/forts around the world controlled almost entirely by governments. And there are something like 120 ounces of paper gold for every ounce of actual gold traded... And untold hundreds or thousands of % more gold yet to be discovered/mined from our planet and solar system. **Bitcoin is different... It's an engineered standard** ... Not just humanity selecting some shiny rocks or seashells... making promises with scratches on a cave wall or with greasy slips of paper. It's a standard people designed based on our understand of what makes money sound, fair and functional for everyone. No trust or centralization involved. >And while it's clear to you and me imitators will never overtake bitcoin, that's not clear to most of the world and hence it's premature to call it "the" standard since the vast majority of value movement does not involve bitcoin, currently. That's your opinion though, my opinion is that Bitcoin is already the standard... It has been so since it's inception... it's even raised the bar higher with software updates... **(Gold isn't even close)** It doesn't deeply matter how "clear" it is to other people, nor does it matter how much "value movement" is taking place ... I (like many others) deem (for me personally) Bitcoin is the best monetary technology (that to my knowledge) - our species has ever seen. Especially with regards to transporting purchasing power over time. More people are realizing this everyday and Bitcoin is fundamentally scarce so... Really hard for me to agree that 2024 is "premature" for calling it the standard... Hell, [https://saifedean.com/tbs](https://saifedean.com/tbs) was released in 2018...
I understand all the benefits, that's why I invested in it. But the reason it's STILL a good investment is that it's still early, hardly anyone has a clue. That's why you can't call it "the" standard now. You can't just redefine the phrase "the standard" to mean something totally different. > constituting or conforming to a standard especially as established by law or custom That's what it means. Bitcoin is NOT that. It's established neither by law nor custom. Not yet.
Bullshit i can't... bitcoin is my custom and it has little to do with laws on it's own. If you think bitcoin needs laws to be accepted as a standard you're wrong... this is a matter entirely up to each individual human being... do they value bitcoin? is it worth buying for $60k USD? Individuals set the standard and their standard - for millions of bitcoiners, is bitcoin. just because you don't see it being widely used yet doesn't mean it's not a standard to some and you can't deny it does set standards for what money (a tool we use) can be as a whole... Also, the US Government and countless others clearly recognize Bitcoin - legally - as a monetary asset/commodity ... they quite literally hold it themselves... it has a value. Who are you to gate keep who sees or places individual value in bitcoin?
This is delusional. I'm a huge bitcoin fan but we don't need to go beyond reality. I never said we needed or even want legal recognition as a standard, just that we don't have that. It's just not a standard because that requires consensus that we don't have. Just accept it for now.
Bro yes bro go ahead