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30 sats \ 13 replies \ @Fundamentals 28 Jan \ on: Critiques of "Non-Kyc" Bitcoin bitcoin
Never having to exchange back to fiat is the goal - a very difficult goal that most people need to be building 24/7/365.
If you don't have people to exchange bitcoin with, then you will default to the exchange. You must build a circular economy to have any hope of using your Bitcoin as proper money.
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I have farmers accepting Bitcoin, and my childrens school does as well. That's a decent portion of my necessities. It also makes these ppl and institutions strong and durable. This work never stops.
Also, don't underestimate the value of friends if all else fails. Friends will take a fiat bullet for you - meaning they can intermediate between you and a company where they pay the fiat and you can send them Bitcoin.
This makes your friends strong and durable.
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That's a decent portion of my necessities
booom! you see? once somebody cover at least 50% of their spending necessities with sats, their life is totally changed.
And friends indeed, are a good resource for paying your old fiat bills. You help them (getting sats) and they help you paying those fucking bills.
The important step to do is TO EARN IN SATS. After that is quite easy nowadays.
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You must be in the EU.
Outside of the 'Bitcoin Bubble' and maybe ETFs now... nobody really knows anything about how Bitcoin works much less Lightning really.
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It really doesn't matter where you live. Is more about to BUILD that circular economy around you.
If you just sit, vote and cry for a gov to pay you in BTC, you can wait forever.
BE THE CHANGE IF YOU WANT THE WORLD TO CHANGE.
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The only place I've seen that offers anything like a "Bitcoin economy" is Lugano, Switzerland. If you are European you have NO EXCUSE but to visit sometime you really can pay for a mini-vacation there in Bitcoin.
Outside of that it's... the occasional gift card and maybe buying VPNs but you can't eat VPNs LOL.
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Lol you can work 11 months and half, then spend all the hard earned sats to pay for some cappuccino coffee or a pizza at a crazy-swiss-price. And pay sats to merchants that don't really want them because they prefer the stable shitcoin they use over there. I mean, what could go wrong?
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There are plenty people with plenty disposable income... for whom a few hundred euros, or even a thousand euros is a small amount of money to spend on a short vacation.
If Bitcoiners don't 'spend their Bitcoin' ever on anything and never use it, then don't we end up with the current situation? Where there is practically zero merchant adoption outside of VPNs and a few small Bitcoin companies?
And if Bitcoin will never be adopted because the merchants 'just convert it to Bitcoin anyway' then sell all your Bitcoin because we will never get anywhere.
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If Bitcoiners don't 'spend their Bitcoin' ever on anything and never use it, then don't we end up with the current situation?
Individuals follow individual incentives, not collective ones.
I think the most economically incentivized use case for spending sats directly as it stands is that it shields you from extortion.
And if Bitcoin will never be adopted because the merchants 'just convert it to Bitcoin anyway' then sell all your Bitcoin because we will never get anywhere.
I don't want to sell my bitcoin, it preserves purchasing power. I'll sell it when I want to buy something and don't have enough fiat.
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Yeah and 1sat/vB blocks that ultimately are not censorship resistant.
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What do you mean by not censorship resistant
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Miners decide which transactions to include in blocks and can therefore censor transactions