Bitcoin (BTC) is Western Technology Not Eastern Technology

When Michael Saylor was asked about the significant thing that happened in crypto the last year he replied as below:

“I think The emergence of a protocol consensus in the western world that bitcoin is Western technology not eastern technology following the china crackdown.  And, that Bitcoin is property and not currency. And, the acknowledgement by the head of the EU Central Bank, the Head of the Federal Reserve, the head of the SEC, Congress Senators, that Bitcoin is digital property.  You can hold it.  It is the standard by which all other properties will be judged and.

I read that as a green light for institutions and mainstream investors to own Bitcoin in the Western World.  I think that is the most significant thing.”

Community response:  When you say it’s not currency, what do you mean? It is money and will continue to be money. Do you just think it will be a reserve for other currencies?

He’s saying it’s property and entails property rights. But more than that, it’s all of those at the same time: money, property, currency, store of value, soon to be unit of account. It’s truly amazing.

He’s Saylor on fire. Set yourself on fire and let others warm themselves. He’s warmed my heart more than many in 2021. A unit of account that is incorruptible to an individual is an advancement of freedom. I’m so stoked.

How about a new Bretton Woods Agreement to adopt a system inspired by Bitcoin?

Saylor sets the trend for speculative delusion. Sets a standard for all property. A pristine point of comparison when determining an asset’s value regardless of whether it has a secondary utility.

I disagree. The most significant happening in Crypto this year is that Bitcoin is a currency. In fact, it is the legal currency of El Salvador since president Nayib Bukele made it possible last September. So, as Bitcoin is currency and it shouldn’t be taxed. And that’s mind blowing.

Bitcoin is currency only in El Salvador. It’s an asset or commodity everywhere else.

I think the most significant thing that happened this year is El Salvador adopting Bitcoin as currency. It broke down so many barriers and accelerated the lightening network. Every single new day the lightening network grows stronger, proving bitcoin the be the world currency.

Accepting Bitcoin as property makes it easier to be taxed as with claiming the technology is incredibly important