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@spiderman
stacking since: #949602
0 sats \ 0 replies \ @spiderman 1h \ parent \ on: The State of Merchant adoption right now. How's it, where you are? bitcoin_beginners
I went to BTC Map and in whole of Estonia I can see only one business accepting Bitcoin, so I can understand your disappointment somewhat.
But why so far as North America? My understanding is Bitcoin spreading fairly even in, for example, Switzerland and Czechia (much closer home for you)! May be they can even beat much of north America (which is a humongous region, and not all states/provinces are equally open to it either).
Thanks, this is something that I have been thinking for sometime. While I would love to see more merchant adoption, some nuance is necessary in what kind of merchant I want to see adopting it. I do not care so much about whether my next door cafe sells me a latte for Bitcoin (which will come, when his hand is forced, whether he is a Bitcoiner or not).
As always, it is the critical mass and network problem. Merchants will have to pay their taxes, labours, suppliers and rent in Fiat, hence accepting Bitcoin just adds a layer of complexity, which I sort of have to agree with.
That is why I always believe the most positive signs of adoption would be when Bitcoin is adopted by manufacturers (not only merchants)
- whose demand curves are less elastic
- whose products are more essential at a survival level (for an individual, or polities)
- of critical industrial components, capital goods or supply chain bottlenecks
Here are some present examples and some others that I hope to see.
- There are shops in Texas (unsurprisingly) that sell Firearms and ammunitions for Bitcoin
- Emarat (one of the largest oil companies in the Arab world) allows you to fill up your gas tank for Bitcoin
- Real estate sales in Florida to Dubai are being settled in Bitcoin
- Apmex (Gold/silver dealer) accepts Bitcoin
- Sino Global (a shipping corporation) accepts Bitcoin
I am hoping some copper, Aluminium, oil refiners, steel makers, ship builders, Lockheed Martin or Boeing, some cement companies, NextEra Energy (one of the giant electricity suppliers in north America) etc. will get on-board with Bitcoin settlement (especially for global payments and final settlements worth like ~100 BTC or such).
They can have more base layer (pun intended) impact than cafes selling a latte or pizza for Bitcoin. These are businesses you will likely not see on BTC Map, but even one of their impacts can be felt in the world of money more than all the Steak-n-Shake combined.
I am not that rich, and thankfully I do not live in the European Union. But I need to clarify a few things
- The article talks about wealth tax, not income tax. That means, taxing you for your net worth (to the extent you declare it or they can track it), not only for your income. So if you have a few Bitcoins sitting in a cold wallet, that obviously is part of your net worth, and on the tax season, their worth can be expressed in fiat Euros. Can they know it? That is where KYC comes in.
- The question is not about Fiat mentality. They can tax in Bitcoin if they want, as in, accepting the tax in Bitcoin (some American state governments are going there), I doubt that makes the tax any more palatable to anyone.
- I would love to not be a slave and say fuck you to any IRS agent showing up to arrest me, as an anarcho capitalist or something. But the question itself assumes a less radical base scenario. It presumes that even a wealthy entrepreneur does not have the capability to fight the raw power of the government (wielding guns and tax agents, threatening arrest and imprisonment), hence to what extent Bitcoin can be used to hide the net worth instead of open confrontation
If the coins are acquired via methods that tie your on-chain address to your identity in a way the exchange or the government can see it, then it is part of your wealth, and they can send you the tax bill?
Like, if you have 15 whole Bitcoins and the government knows it, I am sure they will be smart enough to count it as your wealth and include it in your wealth tax?
And to think how many tens of thousands will read this to inform themselves about currency movements and its implications...
Are they not? If and when there is a riot, we already crossed the line of what is allowed.
No law ever states that you are allowed to riot on every 16th of the month or second thursday or so on!
No law states that only Belgians are allowed to riot in Brussels either!
100 sats \ 0 replies \ @spiderman OP 17 Sep \ parent \ on: France and Britain are in thrall to pensioners econ
And the Eurozone started printing dollars!
There will be no change until the majority of us continue believing in this.
Not the majority, but the most economically powerful and influential suppliers (I already gave examples) demand hard money in exchange for their produces.
As always, it is the critical mass and network problem. Merchants will have to pay their taxes, labours, suppliers and rent in Fiat, hence accepting Bitcoin just adds a layer of complexity, which I sort of have to agree with.
That is why I always believe the most positive signs of adoption would be when the goods
- whose demand curves are less elastic
- which are more essential at a survival level (for an individual, or polities)
- critical industrial components or supply chain bottlenecks
are available via Bitcoin and those merchants discount it, then it will trigger a stronger avalanche than small consumer facing businesses. Here are some present examples and some others that I hope to see.
- There are shops in Texas (unsurprisingly) that sell Firearms and ammunitions for Bitcoin
- Emarat (one of the largest oil companies in the Arab world) allows you to fill up your gas tank for Bitcoin
- Real estate sales in Florida to Dubai are being settled in Bitcoin
- Apmex (Gold/silver dealer) accepts Bitcoin
- Sino Global (a shipping corporation) accepts Bitcoin
But I myself have not checked whether they have outrageous mark-ups like my example in the original post.
I am hoping some copper, Aluminium, oil refiners, steel makers, ship builders, Lockheed Martin or Boeing, some cement companies, NextEra Energy etc. will get on-board with Bitcoin settlement (especially for global payments and final settlements worth like ~100 BTC or such).
They can have more base layer (pun intended) impact than cafes selling a latte or pizza for Bitcoin. But I will always wonder, what (if anything) will give them the nudge.