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30 sats \ 21 replies \ @frostdragon 24 Aug 2023 \ on: Why don't you spend your bitcoin? bitcoin
Why spend bitcoin when I can spend fiat instead
One school of thought is for Bitcoin to succeed there need to be a circular economy of Bitcoin.
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Succeed in what way?
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Adoption. Pay for everyday things, use it as a currency.
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I'm not interested in that kind of adoption. It's not its time and there is no need to force it. Let Bitcoin unfold naturally.
Adoption will come as needed, starting from what is needed the most:
- store of value (take inflation rights away from the state)
- payments for illegal goods and services
- privacy, i.e. payments for things that are not outright illegal, but you don't want the thugs of the state to know
- payments to avoid theft, a.k.a. taxation in statespeak
Every stage will make the state weaker and the individual stronger. At stage k, the state will have been made weak enough to make stage k+1 viable.
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there are so many boneheads in this thread, yikes.
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This is the worst type of "bitcoiner"...
Literally fuck you. Use your noggin please
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Turn down the toxicity
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Bitcoin was literally made to be P2P currency
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It is p2p even if you spend less.
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The Bitcoin network won't survive if no one uses it. You morons need to stop promoting the use of fiat for everyday spending and Bitcoin for saving.
You're all fiat maximalists with this thought process. Shame on you.
"but but but anon why should I be trying to actually get off the banking system and onto the Bitcoin network???? The $1000 I spend in rent could be a berjillion fiat units one day!!!"
morons.
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Saving it IS using it. Specifically as a store of value. The idea that you need to spend to use it is Keynesian.
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Yeah just like burying cash in your backyard is "using it" right?
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Saving money is using money, yes.
Obviously doesn't make sense with USD, but with bitcoin... That's the entire fucking point.
Our economic health needs to go back to being based on saving, not spending. We're so used to the idea that spending is the only way to keep the economy healthy and stimulated that we don't recognize how backward that is.
What do we say about the principles of sound money around here? It needs to be salable across time and space. Well, we haven't had money that's salable across time since 1971. Now we do, and the more people that take advantage of that, the more scarce and valuable bitcoin will become.
Step 1 - remember that money is supposed to be USED as a store of value
Step 2 - USE money as a store of value
Step 3 - world resets to a bitcoin standard
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You come off like you just read the bitcoin standard for the first time three weeks ago.
Are you new to Bitcoin? I'm not sure if I should teach you why you're wrong or scold you for being wrong.
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I’m always down for a respectful conversation. Not sure why the tone has gotten so hostile and condescending around here lately.
Buy it, save ,it Work for it, spend it
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Why don't you buy bitcoin with that extra fiat and spend it?
And by fiat you mean cards or cash?
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I mean if that’s the only option, I’m happy to. But if you’re taking fiat AND bitcoin, odds are you’re converting whatever amount you want to bitcoin, so it doesn’t make a difference if that happens on the front end or the back end.
What makes a difference is long term self custody. The more people that hodl and treat bitcoin like a store of value like it should be, the better.
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More payments in bitcoin incentivizes more merchants to offer it as payment method which in turn grows adoption, that is, more people treating bitcoin as a store of value.
There's also the privacy aspect. Unless you're into fiat games it makes no sense to pay with a card when you can pay with lightning for example.
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That only makes sense if offering bitcoin increases sales.
Whether or not I feel like I need privacy for a transaction just depends on the situation.
All that being said, if a coffee shop started accepted lightning, and the coffee was actually good and reasonably priced, it’d be my instant go to.
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Fair
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