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112 sats \ 28 replies \ @DarthCoin 7 Dec 2023 \ on: How risky are Stablesats? bitcoin
I will never use such a thing. Only Bitcoin.
Stablesats is a monstrosity created for those people that still want to live in a fiat world, where their mind is stuck in the past...
And is wrong to say that are stable... when they are linked to a fiat currency that goes to zero value.
You've never operated a business. You're entire life depends on other people who operate a business. You get paid from a business which is using dollars. Grow up m8.
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Then stay in fiat if your life depends on fiat. Why use such a thing?
I operate a business, and I am paid in BTC. That's all.
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Your business doesn't have employees or cost, you're self employed. Great for you. But any 'normal' business does not want to take the risk of a 10-80% drawback after getting paid.
"Why use such a thing" spot on my friend. Why do you think stablesats were created in the first place? It wasn't created for privileged AMERICANS that can open as many corporate accounts with JP MORGAN CHASE as they wish.
Just like USDT, they are used by people who are EXCLUDED from financial tools.
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Have Fun Being REKT
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How do you not get rekt when you work for a year getting paid in bitcoin and the price drops 50%?
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Because I am not a fiat maxi mindset like you and I do not give a shit about BTC price.
I earn in BTC, I spend in BTC, I hold BTC. No more fiat here and I closed all bank accounts.
Simple as that.
The first step into Bitcoin adoption will be when people will move away from fiat mindset.
Otherwise is just a mess, we will never have bitcoin adoption if we always go back to fiat.
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Say you earn 50,000 and have cost of 30,000 and the value of your bitcoin decreases 20%. You are paying a 20% 'tax' for market volatility and your profits are cut in half. Why would you want your profits be cut in half? For many that risk is impossible to take because they have to feed their familiy and take the risk of not being able to purchase new stock to run their shop.
Again, you're speaking from your privileged but limited perspective and you've never had responsibility for employees or feeding a family.
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the value of your bitcoin decreases 20%.
now do the oposite (which is the most likely outcome)
If the value of bitcoin decreases 20% that means your income is 20% higher in sats.
Why would you want your profits be cut in half?
You see? your mind is still back to fiat "profits"... my mind is not. We are not the same.