{"id":67,"date":"2024-09-07T06:12:27","date_gmt":"2024-09-07T06:12:27","guid":{"rendered":"https:\/\/lukelane124.io\/?p=67"},"modified":"2024-09-07T06:12:27","modified_gmt":"2024-09-07T06:12:27","slug":"bitcoin-gold-model","status":"publish","type":"post","link":"https:\/\/lukelane124.io\/?p=67","title":{"rendered":"Bitcoin Gold Model"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Bitcoin and crypto&#8217;s issues in general stem mainly from an ill-informed model of how the system should work. Fractional reserve banking was never and can never be a functional model for bitcoin.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thinking of Bitcoin as literal in your hand gold would, in my less-than humble opinion, significantly clarify how Bitcoin should be used. It&#8217;s not meant to be an interest bearing instrument such as a CD or interest-bearing savings account. It&#8217;s only ever usable purpose is a store of value over time. How that value is set depends only on what people are willing to trade those &#8220;coins&#8221; for in the real world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin&#8217;s biggest fault is the expectation an average bitcoin holder assumes for those &#8220;assets.&#8221; Most often they\u2019re purchasing Bitcoin only in the hope\/expectation that it will increase, drastically increase, in value. Almost like playing the lottery. Yes some will win, most will fail to find anything of value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Using what I\u2019m going to call the gold model we can start to solidify the intended and only sustainable use-case.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and crypto&#8217;s issues in general stem mainly from an ill-informed model of how the system should work. Fractional reserve banking was never and can never be a functional model for bitcoin. Thinking of Bitcoin as literal in your hand gold would, in my less-than humble opinion, significantly clarify how Bitcoin should be used. It&#8217;s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-67","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/lukelane124.io\/index.php?rest_route=\/wp\/v2\/posts\/67","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lukelane124.io\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lukelane124.io\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lukelane124.io\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lukelane124.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67"}],"version-history":[{"count":0,"href":"https:\/\/lukelane124.io\/index.php?rest_route=\/wp\/v2\/posts\/67\/revisions"}],"wp:attachment":[{"href":"https:\/\/lukelane124.io\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lukelane124.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lukelane124.io\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}