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121 sats \ 1 reply \ @nichro 27 Dec \ parent \ on: Implications Of Alby's New Pricing bitcoin
People don't understand what spend and replace means and still think they're losing out by spending BTC.
I've gone through it numerous times. have to play out each scenario step by step, even better if you show it on a whiteboard.
It's the Bitcoin pizza fallacy.
"he lost millions by using Bitcoin to pay for pizza, he should've used fiat and kept BTC."
Yeah but by using fiat, that's fiat that went to pizza instead of BTC. So it's the same thing. He didn't lose anything. Both scenarios are equivalent.
If anything the only right answer is he lost out by buying pizza in the first place, even if paid with fiat, that's 10$ he could've bought BTC with therefore he lost BTC by paying with fiat.
TL;DR were still early and people still have ways to go thinking about money, economics and opportunity costs
You buy it back immediately, rather than later at a higher dollar price. This is the key they are missing.
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