Haha 210T what? 210T USD ?
Because one of the theory is that USD or any other Fiat currency is worthless and hence 210T USD might mean 0.
So it needs to be 210T X where X is also something of stable value.
X cannot be Gold as BTC is replacing Gold.
what is X ?
BTC…
1 BTC = 1 BTC
Maybe to count aganst Gold: 210T against Gold now would be 15x.
But more likely: BTC market cap = 5x Gold market cap (sometime in 20 yrs or so, because of better stock to flow)
Exactly
21 million BTC will be worth 21 million BTC
And price of each BTC will be determined by use, valuation at that point of time. It has nothing to do with current value.
Just like how gold is valued today. There is no real rationale. People pay what they feel like for gold. Goes up and down based on market uncertainty, wars, government policies etc. In reality a large majority of gold is not really used for anything other than keeping it somewhere.
I would even argue another point. It’s not like entire world’s value is equivalent to Gold’s market cap. Most likely most of the value is not stored in gold anyhow. So who is to say that future store of value in Gold + BTC will be larger than today’s store of value.
Maybe future market share of Gold + BTC will not even be same as today’s market share of Gold + BTC. It will depend on how much people care about these two items.
I am not changing my VIAC strategy to custom as I like the Global 100 in general, but I am waiting for BTC to be included, either directly in the strategy or indirectly through a US pension fund ETF, the question is not if, but when.
@stojano thoughts?
You don’t sell, you just spend it.
Probably in this decade, we’ll be able to pay everything with bitcoin.
Cool looking website I found:
Why would payments made using bitcoin as collateral be any different than payments made using CHF ?
Is there any advantage to the society / environment ?
Just trying to understand what is the problem which exists in current payment systems which would be resolved by this change.
For benefit of discussion, let’s focus on local payments without any cross border issues.
P.S -: this question is not about BTC as store of value, but about BTC as means of payment.
I’m not sure if I understand your question right.
If my wealth is 95% in BTC and I think it is better than any fiat, why should I change it first to CHF to pay for something? Paying directly with BTC is better for me.
I live near Lugano and I can pay at 300+ places with BTC, hasslefree. If I’d live in Lugano itself, I’d be able to pay my rent, taxes etc. as well.
I am not saying you need to convert BTC to something else.
Let’s assume following were to happen
What would be benefit of using BTC instead of CHF?
I understand benefit for people who already have bitcoins because they can use them. But what is the benefit for people who don’t have bitcoins?
Additional example-: let’s say we come to a time when 1 BTC can get you X services and this number X doesn’t change for atleast a year. What difference does it make to people who used CHF for exactly the same purposes?
Should be cheaper for everybody: instant payment, twint, clearing houses, banks etc have 1000s of employees to pay. Bitcoin has low fees (still) (with LN). This will result in cheaper products.
Further, freedom. EU wants to cap cash payments at 10k and anonymous payments at 3k €. You can’t enforce this with Bitcoin.
But honestly, there will be no nocoiner in about 5 to 10yrs…
@stojano
Thanks for your response. And also for patience.
This is interesting information. Is there any reference you can share which talks about lower costs for payments for Fiat vs Bitcoin?
I kind of assumed that I am not paying anything for transactions that I execute on daily basis because I never got any charges except for annual account fees.
not really, I remember there are but have to google myself.
I just know how much a dentist has to pay for fees to SIX and others and why one restaurant made cash-only after 15yrs with credit cards.
Well, it’s obvious where the money goes, just read the “share your salary progression” of the financial guys 
.
Okay, I will also try to find some reference
I know that there are fees for commercial transactions for payments for people accepting payments but I am not sure what would be difference in costs when using Bitcoin network.
Cash only is good for a small family shop, otherwise the payment processing cost are even higher than with credit cards. There was an article about it on cash.ch recently. Electronic payments, Bitcoin, USDT on Sol, Revolut or Twint are more efficient than cash.
yep. The restaurant I know has just family members working. I asked if they want to use bitcoin… but too complicated and they are happy right now (also because 20m is the next ATM).
I don’t know how it is “more efficient” to use and under which cicumstances e.g. SIX? You pay every month quite some fees and every few years you are forced to buy the hardware for about 2k CHF. Plus the fees of the credit card companies.
I know the alternatives… cheaper monthly, but you have to share your revenue.
With Bitcoin it’s clear. You just need a mobile app (tough there are paying systems as well, but not necessary) and the cost per transaction on LN is negligible small.
The right technology for digital payments most likely would come from emerging markets.
In fact India accounts for most digital payment transactions worldwide in terms of #of transactions. UPI is doing quite well in India with very low transactions costs and becoming headache for Visa/Mastercard. In terms of transaction value I believe China is largest user of digital payments worldwide. Hence most likely something interesting exists there too.
Let’s see who wins
As a small business owner - I hate cash.
At the end reconciliation with bookkeeping is shit, you have to bring it back to the bank, higher risk of theft - more effort to get it into the bookkeeping. If you count the effort in h, credit card transaction or twint (also not ideal because their export is kind of shit to use for small businesses) is much easier and smooth. Paypal is actually the most expensive for small businesses.
With systems like sumup, you pay 50-200 CHF for a system which is easily usable with your phone. Fees are 0.5% of the transaction. In our case, the fee for card transaction is much less than the hassle with cash.
Bitcoin would be also shit right now because of its volatility and since all my other expenses are in CHF…
Can‘t BTC just drop to 40-45k CHF? I want to buy more, but not at current prices.
“normally” BTC dropped around 15-20% before halving. It is the time to scare the market and buy the red candles with better prices, before it will pump up. Maybe it will drop again below 60k in the next days, we will see.
