I've recently joined two groups in Bitcoin and my brain is in overdrive. One is a Bitcoin Veterans group and the other is a local group. Both are regional so they have a bit of blending. It is exciting an time.
I'm thinking, how is it that we create a Bitcoin standard and I think I found a solution. The solution is for you as a skilled laborer or business to accept from an occasional customer Lightning Sats or on chain if you are willing to absorb the fee and the fees are low.
Proposal Hypothetical Fiction
I run a small airplane business. I do flights to regional airports. I have a customer base and I am profitable by fiat standards but I am now into Bitcoin and I would like to start taking some of my profits and convert them to bitcoin. I was buying AML/KYC sats via an exchange service but the more I learn about Bitcoin the more I don't like the exchange mechanisms. I think I would like to accept 1 customer a month for Bitcoin.
I have about 40 customers a month. My net is $300,000 at $3333 a flight. I have nice customers. After my expenses I have a profit of about $30,000.
I'm advertising sometimes in aviation magazines. Some of my customers fly and are licensed, but they don't want to deal with ownership. Some customers have their own pilots. In order to push the adoption of Bitcoin I want to have one flight a month for 300,000 sats! Kind of like a giveaway. First come and first serve.
Most of my customers or clients think Bitcoin is bullshit. They are businessmen and women who know how to run the money. Some are very old money. They know the system. However, every once in a while you hear the story about someone getting wiped out by a medical expense or a market closing due to some unforeseen dilemma. Sometimes it is a bank issue. To put it bluntly they know fiat currency is shit and it wakes them up sometimes.
What if I advertise 1 flight a month for 300,000 sats and they get curios. What if they realize they can buy $200 USD of Bitcoin for a flight and still have change, that's 410,000 sats! My customers are not stupid. I have about 100 flights a month. That's 40 regular customers. 5 of them might take the challenge and get those sats. Once they realize that I am willing to work for Bitcoin they will see the value not in dollars but in my value of the currency.
Some of my clients are sneaky smart. All the time they do jobs for each other for zero money. They will probably figure out how to have the same wallet for a group of them. I don't care. I just want them to pay in bitcoin. Maybe I'll get a Bitcoin ATM at my office at the airport! If no one takes me up on the offer I can say to a new client, "$3,333 or $200 with Bitcoin" for that one lucky customer. He can take the QR code to the bitcoin ATM and get the transaction sent to me.
As Charlie Munger has been quoted, "Show me the incentives and I'll show you the results."
As Bitcoin increases buying power I may start doing two flights a month at the same price! Eventually three and then four. My customers will talk to each other and they will buy cheap sats now and anticipate this new market.
End of Fiction
In 2020 I proposed to my employer that he buy my salary in Bitcoin when it was 12,000 a coin. He laughed at me. I told him that I would accept the USD value of Bitcoin and I also said that he could pay my salary and still have enough to pay me the next year. He balked.
I work on the side sometimes and I think I am going to allow one customer to pay me . 300,000 sats for a day! Normally I get a lot more. But I want that customer who really likes me to start thinking, "Shit, it is costing me less dollars to pay this guy and he likes the Bitcoin thing.".
How About You?
Do some of you own a business in fiat? Would you be willing to have a customer get a crazy discount just to pay you in bitcoin? With such a great discount it would offset the tax burden that Michael Saylor says would impede adoption.
Any suggestions?