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0 sats \ 2 replies \ @Solomonsatoshi 12h \ on: A Real SPAM solution: People using Bitcoin bitcoin
The obstruction of Bitcoin use for MoE is overwhelming.
If you are prepared to break the law repeatedly you can conveniently use Bitcoin for MoE via LN or on chain, but very few people will and even fewer businesses are accepting.
Otherwise in almost all jurisdictions you must record each and every transaction and the fiat price of bitcoin at the time of the transaction and calculate the CGs and tax due- a huge and impracticable obligation for any normal person.
They have made lawful MoE use of Bitcoin for everyday transactions effectively impractical.
The sly but very determined strategy of the fiat debt slavery bankers cartel to obstruct MoE into oblivion is succeeding.
The capture and control via FUD, Taxation, debanking and ETFs is winning.
Bitcoin as a P2P payments protocol is dying.
Too few people understand what is at stake.
Too many 'bitcoiners' are dazzled and distracted by NGU.
If you value the P2P payments MoE freedom Bitcoin provides- USE IT or LOSE IT.
Otherwise the current trend of Bitcoin being increasingly used only as a speculative commodity plaything, mostly held by corporate custodians KYCed and taxed, will continue.
The freedom of P2P payments may be lost and with it the revolutionary potential and true value of Bitcoin.
If you are prepared to break the law repeatedly you can use Bitcoin for MoE via LN or on chain, but very few people will and even fewer businesses are accepting.
What choice do we have? I "boosted" this post because of the concerns it addresses... with my own hard-earned sats because like you said it's use it or lose it.
Some of the lacking on-chain activity can be explained by education... it's very shallow amongst the general public.
But NOT all of it in fact it doesn't make any sense.
In my opinion we should have way, way more on-chain activity than we currently do plus places to spend Bitcoin what merchant wouldn't want to accept money that literally goes up?
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Most merchants are not interested because of the perception that Bitcoin is a fringe currency and in many places because of the risk of debanking and general FUD around Bitcoin, plus the fact that so few people want to use Bitcoin so the potential for sales using Bitcoin is tiny. Merchants simply do not have sufficient incentive to accept Bitcoin.
If a merchant asks his accountant 'whats involved with accepting Bitcoin' most accountants will advise its not worth the trouble of setting up the required systems.
I believe it is a combination of FUD/misinformation and deliberate obstruction by banks and governments.
Also 70% of humanity live under autocracies and few if any of those autocracies allow Bitcoin MoE.
Of the 30% of humanity who live under so called liberal democracies the subtle but effective obstruction via tax obligations/implications prevents any real MoE use.
Bankers and governments do not want Bitcoin challenging their fiat MoE hegemony and they have succeeded in obstructing it.
So few Bitcoiners are even prepared to admit this problem that it seems unlikely to ever be addressed, let alone solved.
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