My argument is two parts. a) It’s not money. Because many of these things I use are not “money”, they are decentralized businesses doing a service that take in revenue. We have to separate purely sending funds and a programmable commodity coordinator doing a business. So when you’re attempting to haze it (weakly and failing), you’re essentially trying to force the use of traditional businesses that are corrupt and reduce end-user freedom, such as Cloudflare, WhatsApp, Google Drive, Gmail, and lending from banks. b) Bitcoin isn’t either. On top of that, because Bitcoin’s blockchain was purposefully crippled in a way Satoshi did not want, the market is clearly disputing that it’s the best money. Now you can type the word “shit”, but that doesn’t convince someone to want to use it. If you go into Gucci, they don’t call the other purses “shitbags”… they win with adding value and creating desire. Today Bitcoin is winning, but not as money. It’s winning as a BlackRock ETF. And people don’t feel comfortable doing KYC then withdrawing it from the exchange to then spend it as money with tax effects that can be seen. And that's why your attempt to pull the moral high ground isn't working.
I got a little lost with your response but I'll speak to 2 things. I agree that the 1st world tax laws currently make it not very good money in many situations and for most people in the 1st world, it's not good in most situations. I don't agree that an ETF with less than 4% of circulating supply is the only way it's winning. A big part about what makes a money useful is being able to spend it in more places. Most places in the world only accept fiat. So the way that I see it, we are currently trying to build out the Network so for more groups of people, it can become better money. Hopefully the tax laws improve in the mean time🤷
We are having two debates. The first is “non-money” crypto, which collects revenue as a business. For example Arweave collects revenue into a pool to distribute for a service. This isn’t “just units of currency”, its a decentralized business. (And yes we can debate how decentralized) Our second debate is Bitcoin the best cash. Do you agree that the purpose of cryptocurrency is self-sovereign control? That people should control the private keys to their own funds?
1. Is it impossible for arweave to work without their creating their own money? If so, I'm willing to learn more. 2. Bitcoin is currently terrible cash for me because I only know 1 person that accepts it from all the people i buy from often.
Right, they need to create a programmable unit to follow the rules. We’re going to be releasing some articles on it in the next week. There’s also docs.arweave.org with a lot of good info. Bitcoin lightning could be good money if people actually self-hosted their liquidity and owned their private keys, but these are big obstacles for the average person. Fighting Bitcoin lightning vs Monero vs others, is in my opinion not that great, it just divides the community. Instead, we focus on accepting all of them, and encouraging people to get off banks.