Is it hypocrisy for Bitcoiners to use Patreon and other fiat tools to get paid? \ stacker news ~bitcoin

Is it hypocrisy for Bitcoiners to use Patreon and other fiat tools to get paid?

485 sats \ 20 comments \ @secp256k1 24 Sep 2022 bitcoin

Yes28.1%

No71.9%

32 votes \ poll ended

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382 sats \ 0 replies \ @jgbtc 24 Sep 2022

As long as people are willing accept shitty fiat I will dump it on them, if I have any, and keep my bitcoin.

329 sats \ 0 replies \ @ek 24 Sep 2022

I would argue it's not hypocrisy since I can still buy bitcoin with fiat. And 99% of people wouldn't buy bitcoin just to donate.

It would be hypocrisy if you don't accept bitcoin.

204 sats \ 0 replies \ @deleted231216 25 Sep 2022

deleted by author

316 sats \ 0 replies \ @2bithits 24 Sep 2022

If they are using it to buy more bitcoin I don't see any problem

299 sats \ 0 replies \ @premitive1 24 Sep 2022

All humans are hypocrites. I find it more important to ask if this particular hypocrisy deserves our attention and concern. On that count I vote no. We have more important things to think about. IE they wouldn't have as much incentive to use fiat tools if they could accomplish more bitcoin-natively.

100 sats \ 0 replies \ @Merlin 24 Sep 2022

If they use both im fine with it. If you just use patreon , you are not getting my money.

15 sats \ 7 replies \ @Lumor 24 Sep 2022

Let the good money drive out the bad (Gresham's law).

25 sats \ 6 replies \ @ek 24 Sep 2022

Uhm, Gresham's law is the opposite of what you stated: "bad money drives out good"

You maybe meant Thier's law.

100 sats \ 0 replies \ @Lumor 24 Sep 2022

I meant I'd rather get rid of fiat, which drives it out of my accounts, but sure, it goes into circulation.

100 sats \ 4 replies \ @jp 24 Sep 2022

Both laws apply as a buyer is buying "good" money with "bad" money and the seller is getting "bad" money for "good" money.

Really it's a difference of what people consider "good" vs "bad"

Edit: If you look at these laws through services (i.e do I use "good" or "bad" money for a haircut) then there is a notable difference.

Ultimately I think good money always wins (and then the cycle starts over again).

313 sats \ 3 replies \ @ek 24 Sep 2022

Both laws apply [...] Really it's a difference of what people consider "good" vs "bad"

I'm not sure about that.

I understood Gresham's law like this: It only applies if the bad money is declared legal tender. Then the bad money drives the good money out of circulation since no one will spend the good money if he can spend the bad money (same face value).

If legal tender laws don't apply, then people won't accept the bad money. Thus, good money drives the the bad money out of circulation in this case (Thier's law).

192 sats \ 0 replies \ @pi 25 Sep 2022

[The government imposes] price control by coercion on the “exchange rate” between the two types of coin. By insisting on the par-ratio when the worn coins (bad money) should exchange at 10 percent discount, it artificially overvalues the worn coins and undervalues new coins (good money). Consequently, everyone will circulate the worn coins, and hoard or export the new. “Bad money drives out good money,” then, not on the free market, but as the direct result of governmental intervention in the market.

Source: "What Has Government Done to Our Money?" by Murray N. Rothbard.

100 sats \ 1 reply \ @jp 24 Sep 2022

I guess the question I have is: how do you define "good" money?

I think there are many instances where Money A may be better than Money B based on a specific feature. For example, if Money A is easier to transport internationally, you may consider exchange Money B for Money A for your short-term use (since Money A would be considered the "better" money)

100 sats \ 0 replies \ @ek 24 Sep 2022

I guess the question I have is: how do you define "good" money?

Good money should have these properties:

verifiable
fungible
portable
durable
divisible
scarce
censorship resistant
established history

Therefore, we can use these properties for comparison. Bitcoin beats gold and fiat in almost all of these terms. See this article: https://nakamotoinstitute.org/mempool/the-bullish-case-for-bitcoin/

100 sats \ 0 replies \ @KyleOfTheCorn 25 Sep 2022

I picked yes. It is hypocrisy. Why can't they run a BTCPayServer or post a PayNym instead? If you're raising money, as a Bitcoiner, I would think shunning the fiat rails would be the default, no-brainer thing to do.

0 sats \ 0 replies \ @nullama 25 Sep 2022

I don't think there's any tool or platform that allows subscription based services with Bitcoin. That's a critical feature of Patreon.

If anyone knows about a way to make subscriptions with Bitcoin (say, pay 10k sats a month), then it would be great to share it here. But as far as I know, it can only be done in custodial ways.

The closest that I've seen for a solution to this is Alby, which allows you to do something like that, setting a maximum spend per website, and not asking for permission whenever there's a new charge.

0 sats \ 0 replies \ @ken 25 Sep 2022

I don't think so. While we transition to a bitcoin-enabled world, it's fine to accept fiat using conventional rails. Just consider exchanging the fiat for bitcoin!

0 sats \ 0 replies \ @faithandcredit 24 Sep 2022

Its hypocrisy for Patreon to not support Bitcoin :) I mean what are they waiting for? Give us bitcoin deposit adresses already

0 sats \ 0 replies \ @lunaticoin 24 Sep 2022

I see it as a "let the bad money get out"

0 sats \ 0 replies \ @Jem 25 Sep 2022 freebie

We are in transition. This is fine.