Seeing governments selling #bitcoin makes me bullish. It simply means that governments still don’t value it and it gives more time for grassroots adoption which is crucial for #bitcoin success.
In most jurisdictions, government sell the confiscated assets to the central bank. They never sell it in the open market. This shows how much they understand #bitcoin.
It’s called financial repression. You let the inflation run high, which leads to more tax collection and stable debt to gdp ratio, which allows them to borrow more and pay back earlier debt by printing inflated dollars.
True. 99.999% of people aren’t going to run a self sovereign lightning node. So bitcoin needs to be more efficient than fiat also, Bitcoin outperforms fiat because a farmer in Kenya can sell his goods to some random dude in west. Can’t do it with fiat. So majority of people are slowly gonna adopt bitcoin.
True, central banks can make their fiat work efficiently in their local regions but will never make it work efficiently for international trades or remittances.
That’s why bitcoin will always have an upper hand over fiat.
I think people are initially scared of this technology. But when more and more people start using it, they realize it’s way easier to use it than fiat. Like it’s so tough to open a bank account now and with CBDCs, they are gonna add more friction to it, meanwhile a 10 year old can just download a lightning wallet and start sending and receiving money.
And with time the UX/UI are gonna improve more dramatically.
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