Garbage Challenge | Mention one positive thing about fiat 💩 \ stacker news ~bitcoin

Garbage Challenge | Mention one positive thing about fiat 💩

1378 sats \ 11 comments \ @satoshiplanet 3 Jan bitcoin

Bitcoiners love challenges, so today we're going to dive straight into the fiat garbage to find a bright spot. Do you dare?

Frst thing coming to my mind is physical fiat, coins and banknotes, no digits in a bank.

Personally, I find really awesome some designs behind coins and banknotes especially. It's great see how artists from all over the world create beautiful artworks traveling from hand to hand, until a numismatist hunts it down or someone just happens to be infatuated with it.

As a curiosity, several years ago, my father gave me a small chest, it contains some foreign banknotes and coins that my grandfather, a migrant spanish worker, stacked through different european factories during 50's and 60's, and yep, since this moment always catch my attention and I bring back some fiat coins and banknotes when I travel to other countries.

It's your turn, sat!

view all related items

1707 sats \ 1 reply \ @anon 3 Jan

Firm Bitcoin believer, but we need to be open to criticism and realize Bitcoin is not perfect - its just better.

2 ways fiat is still better:

UX, the UX of many fiat applications is amazing and has zero friction. The underlying fiat system and plumbing might be a disaster, but the UX presented to users is often very smooth. This is commonly, imho, why most people do not realize how bad the fiat system is, they only see a polished UX and none of the horrors underneath. If you doubt the UX advantage, ask an older non tech savvy member of your family to go buy something from BTCpins.com and pay with lightning. My parents are never figuring that out, even with unlimited time but they can use ApplePay with ease.
Setting up and maintaining Bitcoin payment rails, especially for businesses, is often a nightmare. Right now you can go from nothing to having an active Shopify or Woocommerce web store with Stripe payments in a few hours at most. Now I challenge, try to go do that same exercise with self custodial onchain and lightning payments. We are improving and will get there, but for now the merchant friction is MASSIVE compared to the legacy system. Anyone who says otherwise is selling something or fooling themselves. Stripe constantly wins even against other fiat merchant solutions because its so simple and easy, they do not even try to compete on price. Most businesses just want payments and banking to fade away into the background so they can focus on running their business. Until bitcoin reaches that level of ease or fiat breaks completely, most merchants are not going to be interested.

0 sats \ 0 replies \ @itsrealfake 3 Jan

All the fiat friction is front-loaded at the point of getting a bank account.

Without a bank account, you can't effectively engage with fiat at scale.

Getting a bank account is VERY high friction.

80 sats \ 0 replies \ @bitcoin_rationalist 3 Jan

Fun to throw at strippers

71 sats \ 2 replies \ @SatsCats 3 Jan