-
@ Jason Ansley | Fractional COO | Leadership Coach
2025-05-24 14:53:08
I understand Bitcoin asks us to strongly consider the effects of the fiat monetary system we currently operate under and move toward actively separating ourselves from it, by adopting a Bitcoin Standard.
The more I study, the more I realize it’s less about BTC and more about time preference.
Granted if one remains on a fiat standard, saving broken money, the fiat erosion will outpace the typical rate we are able to save. Especially considering all other erosion such as taxes, etc…
Thus, a new system is required. A system that aligns with low time preference and proof of work.
As stated in Thank God for Bitcoin:
“The goal is to create a world more aligned with God to the benefit of others, not to seek meaning in material wealth. If monetary gain becomes our goal and focus, we have already lost...Whatever wealth we get from Bitcoin is only useful to God if we use it to love God and our neighbors. Good money is a gift that can help us be better, but it is not an end in and of itself.”
It seems to me that Bitcoin really only has a price becasue of the existence of fiat. Hence the current fiat exchange rate of 1 BTC = $100k+ and the mantra 1 BTC or sat = 1 BTC or sat…
Let’s for a moment assume the majority of the world is on a Bitcoin Standard; items and services are demonimated in BTC or sats…what then?
Bitcoin becomes a medium of exchange. It truly becomes functional money vs it’s approximate state of being a better money.
What then? Will not prices just inflate denominated in Bitcoin instead of fiat becasue of man’s moral issues with greed?
I guess the answer is, some will…Bitcoin doesn’t purport to fix people with a bad nature. Rather it has the indirect, and arguably direct, benefit of attracting those whom desire to contribute positively to society (their communities).
Which brings me to a question I’d love to hear answers from this community for: If Bitcoin is a gift, which I believe it is, and it’s better money, which I also believe; is it only needed becasue the current fiat system is so dysfunctional?
Furthermore, if Bitcoin only needed as money becasue fiat exists, what happens when the world is on a Bitcoin Standard? There will be no need to measure the price of BTC as 1 BTC will be recognized as 1 BTC..so how will Bitcoin be used as a unit of account? Merely by the proof of work of non-idle hands of the people that transact with it?
#BTC
#bitcoin
#bitcoinstandard
#asknostr