pull down to refresh
20 sats \ 5 replies \ @siggy47 OP 6 Sep 2023 \ parent \ on: Is Bitstein Right? bitcoin
Right. He's making a sophisticated argument based on definitions, for which he's correct. I see the issue as more practical: Am I harming adoption by only hodling and not spending? (I just began to spend recently, so I'm thinking about this a lot)
You have got me on the spend train Siggy. In the past week I paid for gas, groceries, and some construction adhesive at HD with gift cards purchased via Bitcoin. The best part is I give myself a little treat when I replace the spent bitcoin and add an extra 5 dollars to the purchase.
So today I bought a $100 gas card with Bitcoin but bought back $105.
I got 2 of the guys who load our groceries at walmart online pick up to download WoS and told them I will give them $5 tip in sats whenever they serve us. (My wife was giving them 5 in cash previously).
I think if the Bitcoin community spent less time debating stupid drivechains and actually working on growing adoption, we would get to 1B users in no time and then we could spend our time debating stupid drivechains. But that's just my opinion.
reply
Very impressive! Especially the tipping, since that's face to face orange pilling. I feel like I'm using The Bitcoin Company as a crutch, but it's a start. I will check @DarthCoin 's guide where he has options for utilities. I guess a generic visa card bought with bitcoin will go a long way.
You gave me a challenge. I have to pick up my game.
reply
But if you pick up your game, then I have to pick up my game. Haha
reply
I guess a generic visa card bought with bitcoin will go a long way.
Yes, in some of my guides I mention these visa "services" (if I can call them services), but I will never recommend them to be used. That means going back to fiat and that is NOT an option anymore.
Always try to use direct payment in btc to the merchant and in this way force them to keep them or use them in a Bitcoin circular economy, not going back to fiat.
Those VISA cards is literally sustaining the fiat economy and not pushuing the merchant to take directly BTC, but keeping them into visa shitworld.
reply
Well I think it’s Mises definition but his interpretation.
Are you hurting adoption? No. And yes.
Bitcoin needs to be used as a medium of exchange - buying goods and services - in addition to being a store of value. So your are not hurting it as you are proving it’s use.
I would suggest that since it is currently measured against the dollar and in a hodl environment it is more appealing as a store of value. Selling it suppresses the price. You are hurting it
Direct medium of exchange (goods for BTC) will come in time and hopefully accompany a more stable price.
Ultimately Bitcoin doesn’t seem to care what ‘we’ do so I wouldn’t take anything I say as having any impact whatsoever.
reply