Money and BTC is the Religion of the people

The religious nature of money divides us into tribes. My religion is that I believe that money is just a tool to enable commerce and that value can only be stored in a productive asset like a share or bond. But heh - no one expected the Spanish Inquisition.

The problem with BTC today is that it is not used much as a tool, if indeed even at all. Very little actually happens with BTC as it mostly acts like a collective, like a baseball card. It is not used to facilitate real trade for the fear that it will rise in value. So it sits still.

Yes, debt is money. This is like the USD today, and not at all like Gold or the USD pre 1971. Yes, my bond is used in trade as debt. It is USD leant out to support the economy. Yes, you may say, you can lend out your BTC in a smart contract to act in just the same way. But how much actually is? It is this adoption of BTC into the real economy that must happen and isn't happening. It isn't happening because it acts like a collectible, like a fine painting or a baseball card. And even as it starts to happen, that is lending your BTC out in smart contracts, going round in circles in an abstract economy doesn't actually make any real value. Show me something that I can't touch - we don't actually live inside computers, inside the internet, you know.

But the real problem with the BTC religion, is not economic. It is political. We have too much debt and must inflate it away like we did after World War II. Because politicians will be forced to confiscate wealth through inflation greater than interest rates (this is called financial repression) hence I am more nervous holding bonds than dividend paying equities as a store of value.

Bitcoin is vulnerable to political interference inside (not outside) the system and in its current form it is really no more than a digital collectible, e.g. like that baseball card. Politicians won't be happy if BTC is used as an escape raft to escape from their economic repression.

Money is a tool to enable commerce, but it's also very useful in manipulating large groups of ignorant (not stupid - ignorant) people. It's the politics that really matter, stupid?