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515 sats \ 2 replies \ @clr 14 Apr 2023 \ parent \ on: HODL is obsolete. Hodl by SPEND & REPLACE - must be the new bitcoiners MANTRA bitcoin
I agree that people who earn bitcoin instead of buying it are more likely to spend it. Two points regarding bitcoin buyers/savers:
  1. Why do they still have fiat savings left?
  2. They are not "saving" bitcoin, they are deferring spending their bitcoin. The point of the OP is that if we don't spend bitcoin as often as we can right now, the day might come when we cannot spend our bitcoin anywhere ("Sorry sir, we only accept cards or CBDC. Cash is only accepted for payments below $50 and will be soon phased out.").
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10 sats \ 1 reply \ @kr 14 Apr 2023
i hadn’t really considered the urgency in your second point, that’s definitely a risk.
i think folks on all sides of this thread want to see widespread merchant adoption, i just think the path to get there requires widespread earning first… though i hope others try different strategies too.
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207 sats \ 0 replies \ @clr 14 Apr 2023
It seems like a chicken and egg problem. Everything is necessary. Spending, earning, saving, entrepreneurs creating awesome products, etc.
A few days ago I was chatting with someone who had been to El Salvador twice in the past two years. He said that the second time there was less bitcoin acceptance among large hotel chains. The hotels said that there was not enough people paying with bitcoin, so they removed the option to save the monthly fees they were being charged for the service. However, small merchants seemed more receptive to getting paid in bitcoin, according to him.
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