๐ช๐ต๐ ๐ถ๐ ๐ถ๐ ๐๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ ๐๐ผ ๐ฆ๐ฒ๐ฝ๐ฎ๐ฟ๐ฎ๐๐ฒ ๐๐ต๐ฒ ๐๐ผ๐ป๐๐ฟ๐ผ๐น ๐ผ๐ณ ๐ ๐ผ๐ป๐ฒ๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ฆ๐๐ฎ๐๐ฒ?
๐๐ฏ ๐ฆ๐น๐ค๐ฆ๐ณ๐ฑ๐ต ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ง๐ฐ๐ถ๐ณ๐ต๐ฆ๐ฆ๐ฏ๐ต๐ฉ ๐ค๐ฉ๐ข๐ฑ๐ต๐ฆ๐ณ ๐ฐ๐ง โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ง๐ช๐ณ๐ด๐ต #Ai-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ฆ๐ฅ #Bitcoin ๐ฃ๐ฐ๐ฐ๐ฌ.
One of Bitcoinโs primary purposes is to separate the control of money from the state. But why does that matter? @Peter St Onge, @Giacomo Zucco, and @CARLAโก๏ธ and @walker each give their answers, and emphasize how vital it is for money and state to be separated, if humanity is to flourish, or even ๐ด๐ถ๐ณ๐ท๐ช๐ท๐ฆ in the long-term.
Below is Giacomo Zuccoโs answer, as written in โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ:
๐๐ถ๐ฎ๐ฐ๐ผ๐บ๐ผ ๐ญ๐๐ฐ๐ฐ๐ผโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
It is important to separate the control of money from the state for the same reason that it's important to separate the control of anything from the state. The modern nation-state is a criminal organization, typically characterized by inefficiency, corruption, and moral bankruptcy. For this reason, it's important to separate the state from its control over defense and firearms, healthcare and medicine, and education and information.
But in particular, it's crucial to separate the state's control over the most significant market of all: money. Money constitutes one-half of every trade that has ever occurred on this planet. The global economy has many sectors that are very important, strategic, and relevant, but no sector can be as important as the sector that is exactly one-half of every single economic transaction in every context, in every age, and in every culture, which is money.
If you corrupt money, you can corrupt any other possible market. If you restore money, you can improve and mitigate problems in most other contexts and markets. So, we should separate the state from literally everything because we should separate organized crime from everything. While we should ostracize organized crime in all forms, it is especially crucial in the case of the most important market: money.
Giacomo Zucco is an Italian technology entrepreneur, and a consultant/teacher for the Bitcoin and Lightning Network protocols. He spends his time supporting projects that he feels might be relevant for the future of Bitcoin, be it as an educator, consultant, entrepreneur, maximalist, or troll. Previously he was involved in GreenAddress, AssoBIT, BlockchainLab, and Bitcoin Magazine. He's currently advancing Bitcoin via BHB Network, BTCTimes, Relai, BCademy, and Notarify.
Preorder your copy of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, and ๐๐ฎ๐๐ฒ ๐๐ฝ ๐๐ผ ๐ฒ๐ฌ% when you contribute to our @Geyser initiative:
๐๐ถ๐ฎ๐ฐ๐ผ๐บ๐ผ ๐ญ๐๐ฐ๐ฐ๐ผโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
It is important to separate the control of money from the state for the same reason that it's important to separate the control of anything from the state. The modern nation-state is a criminal organization, typically characterized by inefficiency, corruption, and moral bankruptcy. For this reason, it's important to separate the state from its control over defense and firearms, healthcare and medicine, and education and information.
But in particular, it's crucial to separate the state's control over the most significant market of all: money. Money constitutes one-half of every trade that has ever occurred on this planet. The global economy has many sectors that are very important, strategic, and relevant, but no sector can be as important as the sector that is exactly one-half of every single economic transaction in every context, in every age, and in every culture, which is money.
If you corrupt money, you can corrupt any other possible market. If you restore money, you can improve and mitigate problems in most other contexts and markets. So, we should separate the state from literally everything because we should separate organized crime from everything. While we should ostracize organized crime in all forms, it is especially crucial in the case of the most important market: money.
Giacomo Zucco is an Italian technology entrepreneur, and a consultant/teacher for the Bitcoin and Lightning Network protocols. He spends his time supporting projects that he feels might be relevant for the future of Bitcoin, be it as an educator, consultant, entrepreneur, maximalist, or troll. Previously he was involved in GreenAddress, AssoBIT, BlockchainLab, and Bitcoin Magazine. He's currently advancing Bitcoin via BHB Network, BTCTimes, Relai, BCademy, and Notarify.
Preorder your copy of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, and ๐๐ฎ๐๐ฒ ๐๐ฝ ๐๐ผ ๐ฒ๐ฌ% when you contribute to our @Geyser initiative:
Geyser | Bitcoin Crowdfunding Platform
A Bitcoin crowdfunding platform where creators raise funds for causes, sell products, manage campaigns, and engage with their community.
You can still get your hands on multiple copies of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, though! Whether itโs hardcover, softcover, digital, or audiobook, ๐ต๐ฉ๐ช๐ด ๐ช๐ด ๐ฉ๐๐ ๐ฃ๐ฐ๐ฐ๐ฌ ๐ต๐ฐ ๐ด๐ฉ๐ข๐ณ๐ฆ ๐ธ๐ช๐ต๐ฉ ๐ง๐ณ๐ช๐ฆ๐ฏ๐ฅ๐ด ๐ข๐ฏ๐ฅ ๐ง๐ข๐ฎ๐ช๐ญ๐บ ๐ธ๐ฉ๐ฆ๐ฏ ๐ฐ๐ณ๐ข๐ฏ๐จ๐ฆ ๐ฑ๐ช๐ญ๐ญ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ๐ฎ.
We curated the top 21 questions that those new to Bitcoin tend to ask, then reached out to some of the most well-known Bitcoiners, like 
Well, we ๐ด๐ข๐บ that today is Satoshiโs birthday only because this is the date he gave for his birth when he created his profile on the P2P Foundation.
Is it ๐ณ๐ฆ๐ข๐ญ๐ญ๐บ his birthday? Perhaps not, but the date does carry with it some fascinating significance.
If today is actually not his birthday, then Satoshi Nakamoto likely chose this date for a couple reasons. ๐ฑ ๐๐ฝ๐ฟ๐ถ๐น marks the anniversary of when the United States President Franklin D. Roosevelt signed Executive Order 6102, in 1933, which prohibited the hoarding of gold by U.S. citizens.
This action essentially ๐ค๐ฐ๐ฏ๐ง๐ช๐ด๐ค๐ข๐ต๐ฆ๐ฅ gold from the general population, and centralized monetary control with the federal government. This event is symbolic of the kind of government overreach and control over money that #Bitcoin seeks to replace by ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ถ๐ป๐ด ๐ฎ ๐ฑ๐ฒ๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐น๐ถ๐๐ฒ๐ฑ ๐ฎ๐ป๐ฑ ๐ฐ๐ฒ๐ป๐๐ผ๐ฟ๐๐ต๐ถ๐ฝ-๐ฟ๐ฒ๐๐ถ๐๐๐ฎ๐ป๐ ๐ณ๐ผ๐ฟ๐บ ๐ผ๐ณ ๐บ๐ผ๐ป๐ฒ๐.
๐ง๐ต๐ฒ ๐๐ฒ๐ฎ๐ฟ ๐ญ๐ต๐ณ๐ฑ ๐บ๐ฎ๐ฟ๐ธ๐ ๐๐ต๐ฒ ๐๐ฒ๐ฎ๐ฟ ๐๐ต๐ฒ๐ป ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ๐ป๐ ๐๐ฒ๐ฟ๐ฒ ๐ผ๐ป๐ฐ๐ฒ ๐ฎ๐ด๐ฎ๐ถ๐ป ๐ฎ๐น๐น๐ผ๐๐ฒ๐ฑ ๐๐ผ ๐ผ๐๐ป ๐ด๐ผ๐น๐ฑ. The ban on gold ownership was lifted on December 31, 1974, effectively allowing citizens to once again own and trade gold as of January 1, 1975. This moment symbolized a return to a ๐ด๐ฆ๐ฎ๐ฃ๐ญ๐ข๐ฏ๐ค๐ฆ of financial freedom and control over one's assets.
Satoshi Nakamoto's choice of this particular date for his pseudonymous birthday, therefore, can be seen as a profound statement on ๐ต๐ฉ๐ฆ ๐ช๐ฎ๐ฑ๐ฐ๐ณ๐ต๐ข๐ฏ๐ค๐ฆ ๐ฐ๐ง ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ด๐ฐ๐ท๐ฆ๐ณ๐ฆ๐ช๐จ๐ฏ๐ต๐บ and ๐ต๐ฉ๐ฆ ๐ณ๐ฐ๐ญ๐ฆ ๐ฐ๐ง ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ช๐ฏ ๐ค๐ฉ๐ข๐ญ๐ญ๐ฆ๐ฏ๐จ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ ๐ฆ๐น๐ช๐ด๐ต๐ช๐ฏ๐จ ๐ฎ๐ฐ๐ฏ๐ฆ๐ต๐ข๐ณ๐บ ๐ณ๐ฆ๐จ๐ช๐ฎ๐ฆ.
You are sadly mistaken.
#Bitcoin is not a number on a postit or on anything else; ๐ถ๐'๐ ๐ฎ ๐๐ฒ๐ ๐ผ๐ณ ๐ฟ๐๐น๐ฒ๐ ๐๐ต๐ฎ๐ ๐ฒ๐๐ฒ๐ฟ๐๐ผ๐ป๐ฒ ๐๐๐ถ๐ป๐ด ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ฎ๐ด๐ฟ๐ฒ๐ฒ๐ ๐ผ๐ป. These rules involve a type of mathematical function known as ๐ค๐ณ๐บ๐ฑ๐ต๐ฐ๐จ๐ณ๐ข๐ฑ๐ฉ๐บ, which is easy to solve in one direction, but impossible to solve in the other direction without a brute force guess-and-check. This brute force requires ๐ฟ๐ฒ๐ฎ๐น-๐๐ผ๐ฟ๐น๐ฑ ๐ฒ๐ป๐ฒ๐ฟ๐ด๐ ๐ฒ๐
๐ฝ๐ฒ๐ป๐ฑ๐ถ๐๐๐ฟ๐ฒ, in much the same way that mining gold does, which is why Bitcoin's hashing process has been likened to actual mining.
In this way, Bitcoin relies on 3 things to function: ๐๐ต๐ฒ ๐ด๐ฎ๐บ๐ฒ ๐๐ต๐ฒ๐ผ๐ฟ๐ of its users abiding by its rules, ๐๐ต๐ฒ ๐บ๐ฎ๐๐ต๐ฒ๐บ๐ฎ๐๐ถ๐ฐ๐ฎ๐น ๐ฝ๐ฟ๐ถ๐ป๐ฐ๐ถ๐ฝ๐น๐ฒ๐ of cryptography, and ๐๐ต๐ฒ ๐น๐ฎ๐๐ ๐ผ๐ณ ๐ฝ๐ต๐๐๐ถ๐ฐ๐ in its use of energy. Bitcoin cannot break or neglect these 3 pillars, and ๐ข๐ด ๐ญ๐ฐ๐ฏ๐จ ๐ข๐ด ๐ต๐ฉ๐ฆ๐ด๐ฆ 3 ๐ฆ๐น๐ช๐ด๐ต, ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ธ๐ช๐ญ๐ญ ๐ค๐ฐ๐ฏ๐ต๐ช๐ฏ๐ถ๐ฆ ๐ต๐ฐ ๐ง๐ถ๐ฏ๐ค๐ต๐ช๐ฐ๐ฏ.
You said that "๐ฆ๐ท๐ฆ๐ณ๐บ๐ฐ๐ฏ๐ฆ ๐ธ๐ฉ๐ฐ ๐ฃ๐ถ๐บ๐ด ๐ช๐ฏ๐ต๐ฐ ๐ช๐ต ๐ฉ๐ฐ๐ฑ๐ฆ๐ด ๐ฆ๐ท๐ฆ๐ณ๐บ๐ฐ๐ฏ๐ฆ ๐ฆ๐ญ๐ด๐ฆ ๐ธ๐ช๐ญ๐ญ ๐ต๐ฐ๐ฐ." This was also the case with gold, when it was first monetizing thousands of years ago, and is an example of the game theory mentioned above. Like Bitcoin, gold is also built on the 3 pillars of game theory, math (on a quantum level), and physics in order to continue to exist. However, ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ต๐ฎ๐ ๐บ๐ฎ๐ป๐ ๐๐๐ถ๐น๐ถ๐๐ฎ๐ฟ๐ถ๐ฎ๐ป ๐ฎ๐ฑ๐๐ฎ๐ป๐๐ฎ๐ด๐ฒ๐ ๐๐ต๐ฎ๐ ๐ด๐ผ๐น๐ฑ ๐ฑ๐ผ๐ฒ๐ ๐ป๐ผ๐.
It's often said that gold has "intrinsic value", but in reality, ๐ฏ๐ฐ๐ต๐ฉ๐ช๐ฏ๐จ ๐ช๐ด ๐ท๐ข๐ญ๐ถ๐ข๐ฃ๐ญ๐ฆ ๐ช๐ฏ๐ต๐ณ๐ช๐ฏ๐ด๐ช๐ค๐ข๐ญ๐ญ๐บ, ๐ช๐ฏ ๐ข๐ฏ๐ฅ ๐ฐ๐ง ๐ช๐ต๐ด๐ฆ๐ญ๐ง. Value, by definition, ๐บ๐๐๐ come from a beholder who wants something, and sees a means to achieve their desires in the thing they're beholding. Gold's apparent scarcity, durability, beauty and other attributes led to it being valued by anyone who wanted their money to not be easily debased or destroyed, and wanted it to look nice, too.
Gold's beauty may be one of its only advantages over Bitcoin's invisibility (though that invisibility is often an advantage over gold's confiscatability). Bitcoin's many attributes include being:
- ๐ฎ๐ฏ๐๐ผ๐น๐๐๐ฒ๐น๐ ๐๐ฐ๐ฎ๐ฟ๐ฐ๐ฒ (unlike gold, which exists in unknown quantities on Earth, practically infinite quantities throughout the universe, and increases in supply when it increases in price)
- ๐ถ๐ป๐ฑ๐ฒ๐๐๐ฟ๐๐ฐ๐๐ถ๐ฏ๐น๐ฒ (Bitcoin is made of information, so every additional copy of its code make it more durable)
- ๐ฒ๐ฎ๐๐ถ๐น๐ ๐ฑ๐ถ๐๐ถ๐๐ถ๐ฏ๐น๐ฒ (infinitely divisible, if needed, unlike gold, which is very difficult to divide, and can only be divided down to the atomic level)
- ๐ฝ๐ผ๐ฟ๐๐ฎ๐ฏ๐น๐ฒ over ๐ข๐ฏ๐บ communications medium (unlike gold, which is very difficult to transport)
- ๐ฒ๐
๐ฎ๐ฐ๐๐น๐ ๐ฒ๐พ๐๐ฎ๐น ๐ถ๐ป ๐๐ฎ๐น๐๐ฒ ๐๐ผ ๐ผ๐๐ต๐ฒ๐ฟ ๐ฒ๐พ๐๐ฎ๐น ๐๐ป๐ถ๐๐ (unlike gold, which often has minor impurities)
- easily ๐๐ฒ๐ฟ๐ถ๐ณ๐ถ๐ฎ๐ฏ๐น๐ฒ and ๐๐ป๐ฐ๐ผ๐๐ป๐๐ฒ๐ฟ๐ณ๐ฒ๐ถ๐๐ฎ๐ฏ๐น๐ฒ (unlike gold, which has often been faked and is difficult to verify)
- as ๐ฒ๐ฎ๐๐ ๐๐ผ ๐๐๐ผ๐ฟ๐ฒ and ๐ฟ๐ฒ๐๐ถ๐๐๐ฎ๐ป๐ ๐๐ผ ๐ฐ๐ผ๐ป๐ณ๐ถ๐๐ฐ๐ฎ๐๐ถ๐ผ๐ป as writing down or memorizing 12 words (unlike gold, which is difficult to store and easy to confiscate)
- ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฎ๐ฏ๐น๐ฒ (as good as Bitcoin's qualities are today, it will always be improvable, unlike gold, which will forever be merely a metal with an atomic number of 79)
๐๐ป๐๐ผ๐ป๐ฒ ๐๐ต๐ผ ๐๐ฎ๐ป๐๐ ๐๐ต๐ฒ๐๐ฒ ๐ฎ๐๐๐ฟ๐ถ๐ฏ๐๐๐ฒ๐ ๐ถ๐ป ๐๐ต๐ฒ๐ถ๐ฟ ๐บ๐ผ๐ป๐ฒ๐ ๐๐ถ๐น๐น ๐๐ฒ๐ฒ ๐๐ฎ๐น๐๐ฒ ๐ถ๐ป ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป, and see why it's superior to all other forms of money, including gold. ๐ ๐ฐ๐ถ may see more value in a substance that has an ๐ถ๐ฏ๐ฌ๐ฏ๐ฐ๐ธ๐ฏ and ๐ฑ๐ณ๐ข๐ค๐ต๐ช๐ค๐ข๐ญ๐ญ๐บ ๐ช๐ฏ๐ง๐ช๐ฏ๐ช๐ต๐ฆ supply, that ๐ฆ๐น๐ฑ๐ข๐ฏ๐ฅ๐ด ๐ช๐ฏ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ when it rises in price, that is ๐ฅ๐ช๐ง๐ง๐ช๐ค๐ถ๐ญ๐ต ๐ต๐ฐ ๐ฅ๐ช๐ท๐ช๐ฅ๐ฆ ๐ข๐ฏ๐ฅ ๐ต๐ณ๐ข๐ฏ๐ด๐ฑ๐ฐ๐ณ๐ต, that is often ๐ฏ๐ฐ๐ต ๐ง๐ถ๐ฏ๐จ๐ช๐ฃ๐ญ๐ฆ, that is ๐ค๐ฐ๐ถ๐ฏ๐ต๐ฆ๐ณ๐ง๐ฆ๐ช๐ต๐ข๐ฃ๐ญ๐ฆ and ๐ฅ๐ช๐ง๐ง๐ช๐ค๐ถ๐ญ๐ต ๐ต๐ฐ ๐ท๐ฆ๐ณ๐ช๐ง๐บ, and that is difficult to store and ๐ฆ๐ข๐ด๐บ ๐ต๐ฐ ๐ค๐ฐ๐ฏ๐ง๐ช๐ด๐ค๐ข๐ต๐ฆ.
If so, then you will value gold more than bitcoin, and that is your right. But ๐ฒ๐๐ฒ๐ฟ๐๐ผ๐ป๐ฒ ๐ฒ๐น๐๐ฒ ๐๐ถ๐น๐น ๐๐ฎ๐น๐๐ฒ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐บ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ด๐ผ๐น๐ฑ, for the tangible advantages it brings to the ways they save and exchange the fruits of their labors. But like the Chinese who, over a century ago, valued silver more than gold, and were left behind by a world that valued gold more than silver, ๐๐ผ๐ ๐๐ถ๐น๐น ๐ฏ๐ฒ ๐๐ถ๐บ๐ถ๐น๐ฎ๐ฟ๐น๐ ๐น๐ฒ๐ณ๐ ๐ฏ๐ฒ๐ต๐ถ๐ป๐ฑ ๐ฏ๐ ๐ฎ ๐๐ผ๐ฟ๐น๐ฑ ๐๐ต๐ฎ๐ ๐ถ๐ ๐ถ๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ถ๐ป๐ด๐น๐ ๐๐ฎ๐น๐๐ถ๐ป๐ด ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐บ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ด๐ผ๐น๐ฑ or anything else that can be used as money.
Jackโs backdrop on the video call featured a Blockclock โ a clever device from 
Vickery's oversight became fodder for Bitcoin maximalists, who turned his blunder into a rallying cry. Living on โMoscow Time" became a tongue-in-cheek reference to shifting one's economic paradigm to measuring ๐๐ต๐ฒ ๐ฑ๐ฒ๐ฐ๐น๐ถ๐ป๐ถ๐ป๐ด ๐ฝ๐๐ฟ๐ฐ๐ต๐ฎ๐๐ถ๐ป๐ด ๐ฝ๐ผ๐๐ฒ๐ฟ ๐ผ๐ณ ๐ฑ๐ผ๐น๐น๐ฎ๐ฟ๐ ๐ถ๐ป ๐๐ฎ๐๐, and away from measuring the rising price of bitcoin in dollars.
The "Moscow Time" meme encapsulates Bitcoin's ethos โ valuing innovation, mocking stubborn ignorance, and cherishing a global movement that redefines how we see wealth. Moscow Timeโs โNumber Go Downโ rate of sats per dollar ๐ช๐ด ๐ข ๐ต๐ฆ๐ด๐ต๐ข๐ฎ๐ฆ๐ฏ๐ต ๐ต๐ฐ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏโ๐ด ๐ด๐ถ๐ฑ๐ฆ๐ณ๐ช๐ฐ๐ณ๐ช๐ต๐บ, and adds a little humor to this widely misunderstood revolution.
Celebrate the 3rd anniversary of this meme by giving this a ๐๐ถ๐ธ๐ฒ๐ค, ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ถ๐ป๐ด๐ this for later, and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it with others.
And you can keep track of the current โMoscow Timeโ here:
Itโs crucial that you both ๐ต๐ผ๐ฑ๐น your bitcoin and ๐๐ฝ๐ฒ๐ป๐ฑ it to help drive adoption and increase its utility as a medium of exchange. While hodling your bitcoin as a store of value is important due to its disinflationary nature and potential for long-term price appreciation, spending it is equally essential, in order to realize its full potential as a decentralized digital currency.
Spending your bitcoin and selling it differ in the sense that selling typically involves converting it back into fiat currency, which adds downward pressure (albeit minor) to Bitcoinโs price. On the other hand, ๐ด๐ฑ๐ฆ๐ฏ๐ฅ๐ช๐ฏ๐จ bitcoin involves using it directly as a means of payment for goods and services, thereby bypassing legacy fiat intermediaries, and promoting financial sovereignty.
By actively spending bitcoin, you can contribute to the growing ecosystem of merchants and businesses that accept it, thus ๐ข๐ฅ๐ฅ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ช๐ต๐ด ๐ข๐ฅ๐ฐ๐ฑ๐ต๐ช๐ฐ๐ฏ ๐ข๐ฏ๐ฅ ๐ฏ๐ฆ๐ต๐ธ๐ฐ๐ณ๐ฌ ๐ฆ๐ง๐ง๐ฆ๐ค๐ต๐ด. This not only strengthens bitcoin's use case as a medium of exchange, but also helps to solidify its position as a viable alternative to fiat.
Furthermore, spending bitcoin helps to circulate the currency within the economy, facilitating economic activity, and promoting a more robust and self-sustaining bitcoin ecosystem. As more individuals use bitcoin for everyday transactions, its utility and acceptance will continue to grow, ๐๐น๐๐ถ๐บ๐ฎ๐๐ฒ๐น๐ ๐น๐ฒ๐ฎ๐ฑ๐ถ๐ป๐ด ๐๐ผ ๐ฎ ๐บ๐ผ๐ฟ๐ฒ ๐ฑ๐ฒ๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐น๐ถ๐๐ฒ๐ฑ ๐ฎ๐ป๐ฑ ๐ฐ๐ฒ๐ป๐๐ผ๐ฟ๐๐ต๐ถ๐ฝ-๐ฟ๐ฒ๐๐ถ๐๐๐ฎ๐ป๐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐๐๐๐ฒ๐บ.
In conclusion, itโs essential to strike a balance between hodling bitcoin for its long-term value proposition, and actively spending it to support its use as a currency. By doing both, ๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐ฝ๐น๐ฎ๐ ๐ฎ ๐ฐ๐ฟ๐๐ฐ๐ถ๐ฎ๐น ๐ฟ๐ผ๐น๐ฒ ๐ถ๐ป ๐ฎ๐ฑ๐๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ฎ๐ฑ๐ผ๐ฝ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐บ๐ฎ๐ถ๐ป๐๐๐ฟ๐ฒ๐ฎ๐บ ๐ฎ๐ฐ๐ฐ๐ฒ๐ฝ๐๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ ๐ฏ๐ฒ๐๐ ๐ณ๐ผ๐ฟ๐บ ๐ผ๐ณ ๐บ๐ผ๐ป๐ฒ๐ ๐๐ต๐ฒ ๐๐ผ๐ฟ๐น๐ฑ ๐ต๐ฎ๐ ๐ฒ๐๐ฒ๐ฟ ๐ธ๐ป๐ผ๐๐ป.
Remember to give this a ๐๐ถ๐ธ๐ฒ๐ค and a ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and add this to your ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐๐.
๐๐ฎ๐ป๐ถ๐ฒ๐น ๐ฃ๐ฟ๐ถ๐ป๐ฐ๐ฒโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
In Austrian economics, money is viewed as a commodity that has evolved naturally in the market to facilitate exchange. Austrian economists, including figures like Ludwig von Mises and Friedrich Hayek, emphasize the decentralized and spontaneous nature of the emergence of money. In layman's terms, money is an agreed-upon medium of exchange used between two parties to execute a mutually beneficial transaction.
Over time, a commodity with specific desirable characteristics, such as durability, divisibility, portability, and recognizability, comes to be widely accepted in transactions. Without the emergence of a medium of exchange, humans would have been confined to using a barter system and would have not evolved to form complex societies and civilizations. The problem with a barter system is that it doesn't solve the economic phenomenon of โThe Coincidence of Wantsโ, whereby one party does not value or desire another party's goods or services. โMoneyโ solves this problem when both parties agree on a medium of exchange to use to transact peacefully and prosperously with each other.
Furthermore, Austrian economists argue against the notion of a central authority (like a government or central bank) having a monopoly on the issuance and control of money. They contend that a competitive and decentralized market for money is more likely to produce a stable and efficient monetary system and a more productive and peaceful society.
Daniel Prince is the host of the Once Bitten Podcast, with a mission to help educate as many people about Bitcoin as possible so that they can gain financial freedom, and the InspirEd Podcast, showcasing world thought leaders in the 'alternative' education space. He is also the author of "๐๐ฉ๐ฐ๐ฐ๐ด๐ฆ ๐๐ช๐ง๐ฆ: ๐๐ฉ๐ฆ ๐๐ฐ๐ฐ๐ญ๐ด, ๐๐ณ๐ช๐ค๐ฌ๐ด, ๐ข๐ฏ๐ฅ ๐๐ข๐ค๐ฌ๐ด ๐ฐ๐ง ๐๐ฐ๐ฏ๐จ-๐๐ฆ๐ณ๐ฎ ๐๐ข๐ฎ๐ช๐ญ๐บ ๐๐ณ๐ข๐ท๐ฆ๐ญ๐ญ๐ฆ๐ณ๐ด, ๐๐ฐ๐ณ๐ญ๐ฅ๐ด๐ค๐ฉ๐ฐ๐ฐ๐ญ๐ฆ๐ณ๐ด, ๐ข๐ฏ๐ฅ ๐๐ช๐จ๐ช๐ต๐ข๐ญ ๐๐ฐ๐ฎ๐ข๐ฅ๐ด". He hosted the Homeschool Global Summits 2019 and 2020.
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