pull down to refresh
0 sats \ 3 replies \ @028559d218 11 Dec \ parent \ on: Thoughts on the Roger Ver/Tucker Carlson interview bitcoin
It does make sense though (having watched part of the interview...) why there are so few places to spend Bitcoin?
We all want Bitcoin to face every and all competition, but face that competition fairly. Free to spend, free to save, free to transact no questions asked and Roger highlighted this in regard to capital gains taxes - which make the accounting for daily small transactions difficult. Right?
No. In this early phase of Bitcoin, there is little incentive for merchants to accept it as holders don't want to spend it much because it's ngu tech; also anyone who chooses to pay capital gains tax on it is a fool.
Once it reaches mass adoption, the volatility will decrease, it will be used more as a medium of exchange, and governments will be forced to treat it as a currency, if they want to continue imposing their sales tax.
reply
I hope you're right.
Sometimes I feel like Bitcoin is just 'too late' and since the 'medium of exchange' hasn't happened... it never will.
Bitcoin's fees have been elevated relative to a few years ago and most of the blocks are full of... basically spam - runes, brc20s, just junk. And those txs are paying 10s of thousands of sats to move... hundreds of sats it's completely uneconomical.
I believe it will end eventually because it makes no economic sense (runes, nfts, memecoins none of them do) but it will take time. I also believe that peer to peer or B2B usage of Bitcoin will take place... but it will also take time for people to become educated about it. I hope it takes place eventually. It's hard to find anywhere that people are willing to accept Bitcoin for good/services.
I remember going to businesses over a year ago that supposedly 'took Bitcoin' and the employee either didn't know how to process it or just didn't care enough to try.
At this rate maybe 1% of the people will have 90% of the Bitcoin... only because the other 99% are too lazy to learn about it or too closeminded
reply
There's quite a few businesses online that take it now. What I do is buy gift cards on bitrefill. For larger purchases, depending on market cycle, spending some sats can make sense. Retailers accepting those GC have no idea Bitcoin was involved, many you can spend in store.
reply