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32 sats \ 15 replies \ @nullcount 23 Sep \ on: If you don't spend Bitcoin you're shorting the Bitcoin Revolution. bitcoin
"Spend and replace"
Is equal to...
"Sell and buy"
Is equal to...
HODL, but also pay exchange fees, tx fees, and cap-gains tax...
If paying taxes and fees is what it takes for the revolution to succeed, then I'm not so sure this is the revolution after all...
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10 sats \ 3 replies \ @fiatbad 23 Sep
Maybe the hidden "taxes" we are all paying by staying on the Fiat Standard are far greater than the measly taxes we pay via spend-and-replace.
Maybe paying taxes and fees to get this revolution going is exactly what we need.
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0 sats \ 2 replies \ @nullcount 23 Sep
How does one "replace" without already having some melting fiat on the side ready to buy more btc?
My suggestion is to simply spend the fiat you already have and avoid paying fees/tax.
If we're talking about a pure circular economy (a.k.a. "spend and earn"), then I agree totally (assuming you aren't taking a pay-cut or paying extra fees to earn directly in BTC).
I heard someone argue once that "spend and replace" is great because it helps the bottom line of bitcoin businesses that facilitate exchange. IMO you're not a bitcoin business if you primarily facilitate fiat/btc trades. Those businesses are just another middleman seeking rent from bitcoiners (making them poorer).
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0 sats \ 1 reply \ @fiatbad 23 Sep
Yea, good points.
The story of Bitcoin Beach in El Salvador sounded like one of competition. Merchants began accepting Bitcoin because they were losing business if they did not.
If we want to end The Creature from Jekyll Island, then we have to have something like Bitcoin Beach happen everywhere else. This only happens if revolutionaries force the matter. It never happens if we just use fiat and are complacent about adoption. In my opinion, Bitcoin loses its major use-case if we just continue using fiat forever.
I love this discussion because I'm 50/50 with my opinions on it... I agree with both sides, and talking through the nuance is fascinating. I think it is at the heart of the Blocksize War as well.
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100 sats \ 0 replies \ @nullcount 23 Sep
Circular economy does not have to start with the "spend" side, it can also start from the "earn" side.
Instead of looking for ways to spend more of your sats "for the greater good" or whatever, focus on making things bitcoiners (rich people) want to buy "for your own personal gain".
Either way, you're helping the circular economy, one way just happens to make you richer while doing so.
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1 sat \ 10 replies \ @random_ 23 Sep
Money thats only valuable if you dont use it lol
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10 sats \ 9 replies \ @nullcount 23 Sep
Money that becomes more expensive to use the more people use it
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10 sats \ 8 replies \ @random_ 23 Sep
Money with a security budget based on energy rather than violence.
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0 sats \ 7 replies \ @nullcount 23 Sep
US Gov. owns >1% of supply which they "earned" thru violence
We should be telling them to spend and replace, not the poor plebs on SN lol
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10 sats \ 6 replies \ @random_ 23 Sep
don't leave your laptop open when investigating a (simulated) DV incident.
don't leave your private keys in a cheetos tin
Seems simple enough.
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10 sats \ 5 replies \ @nullcount 23 Sep
I sleep soundly knowing that 40% of my working days are purely devoted to the US Gov (taxes). And for the remaining 60%, I'm working to make sure the US gov's BTC bags pump.
I'm a revolutionary, I know it.
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10 sats \ 4 replies \ @random_ 23 Sep
Bitcoin is money for enemies.
The pump affects everyone, not just the gov, so thanks for your hard work. And remember to properly secure your keys by saving one shard on a hot device and one shard in a cheetos tin in your closet.
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0 sats \ 3 replies \ @nullcount 23 Sep
Money for enemies, except only one enemy can get away with blatantly and unashamedly stealing it. Sounds like a fair game to me!
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