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21 sats \ 1 reply \ @Daedalus 20h \ on: Need Feedback from my Stackers: Should I spend Bitcoin on a Car? bitcoin
In terms of cashflow (ignoring ridiculous U.S. tax laws), it's identical to spend x amount of usd in btc in one transaction vs x amount in plain usd since you create an equal value opportunity cost. Thinking that sats are only earmarked for savings, and fiat is only earmarked for spending is illogical when both are extremely easy to trade for each other.
This thinking drastically reduces bitcoin adoption and contributes to a HODL culture that ensures bitcoin is not a threat.
In short, if you buy a car for $5k it doesn't matter if you spend sats or dollars, you still spent $5k on a car. In both cases you lose out on the opportunity cost of $5k worth of bitcoin at time of purchase.
It's the opportunity cost, I think, that's so expensive... as opposed to the car purchase itself.
The opportunity cost may be over the next 10 years more expensive than the car itself.
Thank you for your input.
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