My friends think Bitcoin is a joke. There's nowhere to spend it or Lightning. \ stacker news ~bitcoin

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My friends think Bitcoin is a joke. There's nowhere to spend it or Lightning.

2005 sats \ 59 comments \ @028559d218 21h bitcoin

Just like the title says. My friends/colleagues overwhelmingly think that Bitcoin is a joke. Like a digital pet rock... if not a scam + outright waste of time. Some of the 'smarter' ones are starting to maybe think there's something there... But in the absolute most basic of ways and they have zero idea how Bitcoin works.

When I talk about something called "Lightning" (and explain its purpose) my friends just kinda laugh... and say they aren't into "crypto". They roll their eyes (even though they are my friends) and I'm like the crazy Bitcoin person.

Even the smarter ones know precisely zero about Bitcoin - their knowledge of Bitcoin is limited to hearing about 'Dogecoin' and a multitude of scams. "The scams." The "cryptos." One of my coworkers said to me yesterday (reasonably well educated middle class guy) "wait aren't there lots of Bitcoins? I don't understand all the different coins. It's so confusing?"

People, the general public, here in the US know that Bitcoin is expensive... but they have no idea how expensive, why it's valuable, or even the most basic ways to use it. They have zero idea what a "wallet" is or its function.

Transactions fees, a 'mempool', seed phrases... I might as well be speaking some imaginary "eye-roll" language.

I've mentioned tipping "with a Lightning wallet" or "Lightning App" to cab drivers... Uber drivers... tradespeople... PLUS my own coworkers.

And all of them have no FUCKING IDEA what I'm talking about.

In "OUR" universe Lightning exists. You swap in and out on-chain... pay for fries, maybe even tip other Stackers...

But in the 'normie' world Lightning does NOT exist.

It's like Satoshi died in the womb and the Whitepaper was never written.

2 Separate Timelines.

2 separate Universes.

The "Bitcoin" one and the Non-Bitcoin... apparent in the vast majority of the world.

And any question or suggestion of "paying in Bitcoin" immediately makes it clear...

That people think you have to buy a whole Bitcoin because the idea of getting "paid in Bitcoin" implies some "huge amount of money". For what it makes no sense?

A tip? How???

Say you drive someone 2 city blocks... and "the tip" is some Bitcoin. People seem to think that implies some weird, strange, "huge" amount of money that they don't know how to accept anyway. "Because it's a Bitcoin". Because Bitcoin isn't divisible? And Lightning doesn't exist?

It's fucking dangerous. If people think you're giving them "a Bitcoin" "something valuable" that they don't understand...

It's like looking up in the 16th century and seeing a JumboJet flying high in the sky.

Your eyes see it.

But you brain cannot comprehend it... because there's such a disconnect...

That's what trying to use, and advocate for, Bitcoin is like in the real world.

I was in San Fransisco a few weeks ago. Nice areas, not so nice areas... a bar, a comic book store, a local grocery...

How many signs did I see for people to accept Bitcoin (or any cryptocurrency for that matter?)

Zero.

The same exact thing in LA.

Los Angeles... Millions of people... Tens of thousands of businesses. And it's like Bitcoin doesn't exist.

Even in Los Angeles BTC Map is scarce... and I mean SCARCE on places to spend Bitcoin it's just bizarre.

I believe in Bitcoin long-term I really do.

I believe that eventually everyone will use it - Lightning especially. Fast, immediate, sound money that's "secure enough" for daily purchases and transactions... everyone will want it and businesses will want to accept it because its use case is overwhelming.

But there are still 2 universes: the one where Bitcoin exists and the one where it does not.

And right now it's still very confusing and even dangerous straddling the both of them. The '2 worlds'... the Bitcoin and non-Bitcoin one, aren't ready to be one and there is a tremendous amount of confusion and 'misunderstanding' when those worlds occasionally interact.

I believe that things will eventually improve... but it will take a tremendous amount of work and a very long time.

I hope that Bitcoin is successful in the long run.

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170 sats \ 7 replies \ @Scoresby 19h

Most people do not see the usefulness of it. Visa/bank cards/payment apps work well enough for them. Places like Steak and Shake can start accepting bitcoin and that's fun, but after the initial burst of activity, I'd wager they have very very low numbers of bitcoin transactions. Ideological adoption is only gonna get us so far.

I'm hopeful that some payments use-cases are emerging that are so obviously the easiest way to do a thing that people start using bitcoin without actually caring that they are using bitcoin.

People who run webstores might like it because no charge-backs, no fees, and no borders, but you still have to run something like BTC Payserver and your own node and maybe manage channels...but they still need to be pretty motivated to get it done.

People who have OnlyFans and have a hard time keeping tradfi accounts open might like it because they are in a sector that banking really doesn't like, but how many of their fans are able and willing to pay in bitcoin?

AI stuff is also promising because it's really frustrating to get into a subscription when all you want to do is use the product for a specific project. And then there's agents that might need the ability to spend money themselves. Bitcoin is well suited for this.

I'm sure there are more such cases. But I doubt adoption at the local coffee shop as anything more than a publicity stunt for a long while yet.

And for the wider world, the thing that brings bitcoin to mind is number go up. They don't think they need it and most people are never going to spend very much time learning why they do need it. But when the price goes up, they FOMO.

152 sats \ 5 replies \ @fiatbad 10h

Ideological adoption is only gonna get us so far

Cory Klippsten said something on a podcast a few years back that always stuck with me. Something about how historical revolutions only needed 10% of the population onboard in order to enact complete societal change.

So, I disagree when you say ideological adoption is only gonna get us so far. I think idealogical adoption can take us all the way. The problem is, most Bitcoiners are still too comfortable using and thinking in fiat terms, while using Bitcoin only as an investment vehicle. And I'm not talking about the short-term traders using Coinbase. I'm talking "hard-core" Bitcoiners who have read all the books and really understand the stakes. They aren't pushing very hard to end fiat. They keep talking about Trojan horses and Gresham's law... while comfortably using fiat.

There are enough of us to change the world today if we organized and focused on our ideals instead of them being only a side story in our lives.

102 sats \ 0 replies \ @028559d218 OP 5h

They aren't pushing very hard to end fiat. They keep talking about Trojan horses and Gresham's law... while comfortably using fiat.

It's really hard to go go off fiat. I pay my bills in fiat and save/use Bitcoin where I can. But I really have to go out of my way (to use it) and 'normies' have no idea what I'm talking about

62 sats \ 3 replies \ @Scoresby 9h

Fair point. Many religions back you up. Christianity and Islam and Hinduism have remade the world. If we want to pursue Bitcoin adoption in the same manner as religions, perhaps we will similarly succeed.

I'd prefer to pursue adoption along the lines of technical innovations like automobiles, the internet, and smart phones. People didn't need to promote these things for ideological reasons. People chose to adopt them because they found it useful. I'm sure I'm looking at things with rose colored glasses here, but I'm of the opinion that bitcoin needs to win because it's undeniably better -- and I think that happens when people adopt it because it's the best way to achieve their goals.

38 sats \ 2 replies \ @fiatbad 8h

For me, it's not that I think Bitcoiners should be ideologically pushing Bitcoin adoption so much as I think they should be avoiding the dollar with a religious-like passion.

It's their comfortable relationship with fiat, while simultaneously talking about how bad it is... that is what pisses me off the most. I think if we really believed what we preach, we would be creating small, Amish-like communities with Bitcoin circular economies and we would go out of our way to use fiat as little as possible.

I want to see a religious-like "jihad" against the dollar. Bitcoin just becomes the obvious choice for money when we refuse to use dollars. Or maybe we can try something like Goldbacks, I dunno. Just stop using dollars, mmkay? And stop giving me lip-service about taxes, greshham's law, and trojan horses. You're just making excuses to be lazy. That shit's just noise. STOP USING DOLLARS. It's a simple goal to strive for, and I'm not seeing much of it in this community.

102 sats \ 1 reply \ @028559d218 OP 5h

I think if we really believed what we preach, we would be creating small, Amish-like communities with Bitcoin circular economies

Ask your Uber driver if he has a Lightning wallet. I have... many times and there isn't one who knows what it is.

0 sats \ 0 replies \ @Scoresby 5h

Yes. It is just not anywhere near being on many people's radar. Other stuff works well enough for them -- or at least so they seem to feel.

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102 sats \ 0 replies \ @028559d218 OP 5h

People who have OnlyFans and have a hard time keeping tradfi accounts open might like it because they are in a sector that banking really doesn't like, but how many of their fans are able and willing to pay in bitcoin?

I'm surprised we don't see more of this.

I've gone to the 'donation' section of numerous newspapers, big ones and especially small ones... both in clear net and over Tor and you would think you'd see tons of them with the ability to take Bitcoin/Monero donations.

Do they? No. It's really rare.

Some anon journalist writing about important things reporting on the powers that be, much less niche journalism on special topics...... why wouldn't they have an address or btcpay or LNaddress or something with which they can accept donations? But they don't have it and it doesn't make any sense to me.

134 sats \ 1 reply \ @office 18h

I know it is stupid, but to get people interested in Bitcoin, you have to tell them that they should not look into it! They need to avoid Bitcoin at all costs!

I wish it was otherwise, but I don't make the rules. 80% of the time it works all the time. Reverse psychology is a bitch.

0 sats \ 0 replies \ @Scoresby 16h

I fear that you are correct about this. I'm going to give it a try.

75 sats \ 3 replies \ @kepford 9h

People, the general public, here in the US know that Bitcoin is expensive... but they have no idea how expensive, why it's valuable, or even the most basic ways to use it. They have zero idea what a "wallet" is or its function.

The masses are missing their chance to front run the elite. Its on them for being sheep. I've come to that realization. I have talked to people till I'm blue in the face about it. Its like a stone wall. Its a waste of time. Bitcoin will win, its just that the masses have always been and will always be followers. They are risk averse. Not in investing but in the space of ideas.

With the government pretending to be pro-bitcoin and ETFs gaining adoption we are seeing the wealthy try to "adopt" bitcoin. They don't really get it either but they realize it is something they should be exposed to. Even if they don't admit it.

I firmly believe those that have done the work will be rewarded for that work and bitcoin will enrich the lives of everyone. It won't make everyone rich, but that's a dumb idea anyway.

Here's the thing I think about when this topic comes up. If bitcoin is at 100k+ with so little understanding of its true utility and worth for mankind. What the heck is actually worth? I don't think anyone really knows. But I can't see it being worth less than it is now. I see it as exponentially more valuable than it is today. 10x is probably way off actually.

For the past 5 years now I've been taking bitcoin seriously. Not just stacking but learning how it works. How the tools work. How to communicate why it works. How to answer questions. How to teach people how to use it. I have very few opportunities to use this knowledge now. But I'm preparing myself to be an uncle Jim. I am for my family and a friend but pretty much everyone else is clueless and fast asleep.

This isn't depressing really. It should be expected. I've written about adjusting our time preference many times. The US is fat and happy. Even today with things not being so great. When people need it, bitcoin will be there if we, the vanguard keep working at it. Using it. Using the tools and preparing.

56 sats \ 1 reply \ @028559d218 OP 4h

I agree with this post 100%. With regards to 'the other people' and the world in general... you described my experience perfectly. The stone wall the waste of time etc... yup.

The masses are missing their chance to front run the elite

It's a shame. Every BTC that MSTR gobbles up each week is another whole-coiner that will never be. Think about that.

0 sats \ 0 replies \ @kepford 2h

I have... that's their choice. This is why the idea of equality is foolish.

0 sats \ 0 replies \ @spiderman 1h

The adoption may be slower than some would expect or like, but the major barrier is peoples' stupidity, and I see it as my opportunity. So I see no incentive to accelerate the process. That is why I do not orange pill, I do not talk about it to anyone I know, I do not go to Bitcoin conferences or meetups, do not wear a Bitcoin t-shirt.

I consider myself a latecomer to Bitcoin, not because I ever believed in Fiat (stacking Gold since I started having any meaningful savings), but somewhat because of my own laziness to understand Bitcoin-the theory (secure hash, elliptic curve cryptography, Blockchain) and operation (how to work with a node and wallet). I didn't put money into something I do not understand. But now that I see the light, I need more time to stack enough and a faster adoption (meaning an inevitable price surge) is not helpful to me.

I remember a YouTube video from a Bitcoin blogger who went to some Philippines island where a shop said they took Bitcoin for payment last year. Asked why not this year, the nonchalant answer (from the owner) was he found it difficult to convert, and forgot some password. This was a year when Bitcoin had a big bull-run, and their peso was going down against USD. He does not want more money, he just wants familiarity.

My conclusion (after watching many such episodes) is, too many poor people, would rather suffer, watch their savings evaporate and complain, than spending a tiny bit of intellectual horsepower to think and act outside their comfort zone. Their inertia is my opportunity.

This also brings me to my next point and that runs contrary to what many maxis and BTC evangelists imply, who say adoption happens at grassroot. Not really, a few BTC circular economies you see in Latin America or Africa stay alive only by Bitcoin donation from some NGOs. To me, it is functionally like Keynesian money printing when a massive NGO (the Federal reserve) is injecting Sats (liquidity) into a small village to keep the circular economy alive. The ones close to the money spigot (whoever gets the donation) benefits the most, then they spend the Sats to buy groceries. That is as sustainable as a Fiat ponzi scheme.

The very bitcoin OGs, starting from Nakamoto and the Pizza guys...were not necessarily ultra-wealthy but easily among the top rung in terms of intellectual horse power. But beyond that, and a few who see the light, most of the adoption eventually has to happen via institutions, whether Blackrock, JP Morgan, Abu Dhabi sovereign wealth fund, Emarat (the Dubai oil company taking Bitcoin) or massive treasury adoption by Apple, Google etc.

Yes, of course, if an ordinary guy could pack his bags well before Blackrock or JP Morgan came in, the reward could be mind blowing, but most ordinary guys prefer their comfort zone. They will adopt it too, either after they (or their kids) get repriced in it, or as their national currencies collapse. Remember Gresham's law followed by Their's law? Your next door pizza seller? He would adopt when he can command ~500 sats for a large pizza and rue the day when someone offered him ~10,000 sats for the exact same pizza.

127 sats \ 3 replies \ @gnilma 19h

I don't know how old you are, but if you were born in the 80s like me, you might remember the internet in the early to mid 90s. I'm seeing a lot of similarities with the bitcoin network in terms of adoption. A lot of question, doubt, and thinking it's all hype, all scam, especially after the dot com bubble. But then, look at the internet now.

In the end, if it's a good idea, if it's a superior idea, people will adopt it, because they want what's best for themselves. If you've experienced the slowness, control, censorship, and just the pain of using the fiat banking system, you will appreciate bitcoin so much more. Or if you're unbanked like nearly 30% of the population on this earth, you will probably also find bitcoin very useful.

Like Saylor says, "bitcoin is on a need to know basis". Many people in the States have access to a usable banking system and access to investments to maintain their wealth, so they don't need to know about bitcoin. But eventually, everyone turns to bitcoin. Like the sayings go, "We are still early." "Gradually then suddenly." "You get bitcoin at the price you deserve."

"An idea whose time has come is unstoppable." Your friends will turn to bitcoin when they feel the need for it. Just make it known that they can come talk to you and ask for advice / seek education when that need arises. Meanwhile, "stay humble and stack sats" my friend.

50 sats \ 0 replies \ @028559d218 OP 5h

But eventually, everyone turns to bitcoin.

This is what I believe... to one degree or another at least. It's like gravity is to physics. Or fuel is to a car... either you have it or you don't.

Your friends will turn to bitcoin when they feel the need for it. Just make it known that they can come talk to you and ask for advice / seek education when that need arises.

We should be there for our friends, and be ready for if (and when) they come asking about Bitcoin sincerely and with an open mind.

71 sats \ 1 reply \ @elvismercury 13h

Many wise words. The 80s has produced a generation of sages.

5 sats \ 0 replies \ @gnilma 5h

Thank you for the compliment. Just running my mouth (my keyboard in this case), repeating a bunch of things other people said. An imposter sage at most.

54 sats \ 1 reply \ @stack_harder 16h

Most people in 1st world countries have no clue about bitcoin as a payment method, they'll just say 'my credit card works just fine!'

They may have heard about it as a store of value, but that will be it.

They're not watching Joe Nakomoto, they're not looking at m2 and inflation charts

btc is very much a case of when the student is ready, the teacher appears

0 sats \ 0 replies \ @028559d218 OP 5h

Most people in 1st world countries have no clue about bitcoin as a payment method, they'll just say 'my credit card works just fine!' They may have heard about it as a store of value, but that will be it.

Very hard to help people "see the Matrix" when they're not ready to be unplugged... when they're not ready to realize that there's something "to see".

163 sats \ 0 replies \ @south_korea_ln 20h

Most people don't need it until they need it.

What exactly the catalyst will be, especially in the developed world, that's still a million-sats question to me...

64 sats \ 3 replies \ @hasherstacker 17h

0 sats \ 2 replies \ @kepford 9h

This really is the way. I still have so many friends that are fast asleep but I don't care that I'm the "weirdo" at all. You have to not care. You have to care more about your family and the future than what people around you think about what you think.

In other words... have conviction.

0 sats \ 1 reply \ @028559d218 OP 5h

Very true. I've always been the kind of person, for better or for worse, if I believed something was 'the right thing' or 'the right way' and still believed that a long time way...

I would act on it. I never wanted to 'follow the crowd'.

21 sats \ 0 replies \ @kepford 2h

It was important lesson for me to learn that the world if full of other types of people and if everyone was wired like you and I... it would suck... also if there weren't people like us it would also suck. We need each other.

21 sats \ 0 replies \ @000w2 9h

The fact that they only associate money with spending is the main psyop of fiat currency.

37 sats \ 1 reply \ @d680ecaa8e 20h

You don't need to convince anyone not in the domain.

0 sats \ 0 replies \ @028559d218 OP 5h

Hard to use Bitcoin in 'the real world' if the real world doesn't know what it is.

After all... if Bitcoin is to be 'money everywhere'... then everywhere it will be used.

So maybe there are shops and stores that take it, but you don't know until you ask. Then when you do ask confusion/strange looks/weird vibes result.

21 sats \ 0 replies \ @aljaz 19h

the solution is to get better friends

people who won't spend enough time to at least briefly understand something you're passionate about and just wave it off also don't really value you or your judgement. So wasting your time on them is pointless.

21 sats \ 1 reply \ @openyoureyes 11h

Bitcoin is a monetary revolution. Like the internet was a revolution for information. Watch this clip about internet and remember that we are not even there. https://youtube.com/watch?v=Z2fVTiEOl3U

0 sats \ 0 replies \ @028559d218 OP 4h

Revolution indeed friend.

11 sats \ 1 reply \ @nullcount 12h

but it will take a tremendous amount of work and a very long time.

Its up to each individual person to do the "work" to learn (or unlearn) about money. The more you understand BTC, the more BTC you tend to own.

2 Separate Timelines. 2 separate Universes.

I think we're in the same universe... just two different kinds of people live in it. We live in the "future" simply because we like to learn about new tech and have adopted BTC before most people have even tried it.

Others would rather adopt new tech later on, after all the difficulties have been smoothed out, or they'll only change behaviors when there is no other option left.

You can't force a late-majority kind of person into becoming an early-adopter. Its just their nature, like our nature is to be early. Embrace your nature and others'.

Even in Los Angeles BTC Map is scarce... and I mean SCARCE on places to spend Bitcoin it's just bizarre.

Not that bizarre if you understand business and the desire to hold better money. Businesses want to make things for rich people because rich people tend to pay more. However, people who are "Bitcoin Rich" are more likely to understand that BTC is better money, and therefore they are less likely to want to spend it if there is inferior money left to spend. Its the same reason you can't find many places to "spend" stocks, real estate, fine art, and other assets.

But in the 'normie' world Lightning does NOT exist.

Good! LN is pretty complicated. Its probably best if people don't know it exists. Do most internet users know TCP/IP exists? Probably not, they just use a domain name or email address and it just works! That's the role LN should have IMO.

And all of them have no FUCKING IDEA what I'm talking about.

This should be a hint... stop talking about bitcoin and start asking them about their ideas of money.

Do they feel inflation? Where do they think inflation comes from? Do they like the USD? Do they think we should go back to gold standard?

Ask questions, resist the urge to give answers right away. Once you understand where they stand, you can start to nudge them toward learning about BTC on their own time.

There are enough resources to learn about BTC once someone is curious enough to WANT to learn about it.

People won't remember the words you said, they only remember how you made them feel.

If you make them feel like they're being sold something, or educated, that's less ideal than if you make them feel curious and intellectual about the nature of money and value.

My friends/colleagues overwhelmingly think that Bitcoin is a joke. Like a digital pet rock... if not a scam + outright waste of time

Maybe they're right! If you are curious about their reasons, maybe they'll become curious about your reasons for owning BTC.

0 sats \ 0 replies \ @028559d218 OP 5h

are more likely to understand that BTC is better money, and therefore they are less likely to want to spend it if there is inferior money left to spend

I try to spend ~2 percent of the Bitcoin I buy. This way I incentivize people to accept it... and for it to be actually used transactionally. I believe this makes sense if people buy 100$ of Bitcoin maybe they should spend ~ 2% to help jumpstart the Bitcoin economy and encourage small business.

Good! LN is pretty complicated. Its probably best if people don't know it exists.

Just stating the obvious... but Lightning isn't smoothed out/intuitive enough yet to 'just work'. It helps to have a basic idea of how it works to understand what a channel is, opening a channel, writing down a seed phrase, the difference between on-chain/Lightning etc.

Just enough knowledge to use Phoenix. But that's actually A LOT for the general population.

This should be a hint... stop talking about bitcoin and start asking them about their ideas of money.

It usually comes up when I owe a friend 10$... and I ask them 'if they take Lightning'. Then the conversation ensues.

Do they feel inflation? Where do they think inflation comes from? Do they like the USD? Do they think we should go back to gold standard?

This is more than like 99% of people think about.

If you make them feel like they're being sold something, or educated, that's less ideal than if you make them feel curious and intellectual about the nature of money and value.

100% agree.

Maybe they're right! If you are curious about their reasons, maybe they'll become curious about your reasons for owning BTC.

I think the people I'm referring to generally... don't know what a transaction is, what a mempool is, what a 'wallet' is etc... they say they don't understand "why there are so many Bitcoins" and why Bitcoin "has value". They don't have any technical understanding of it... to the contrary it just doesn't "feel good" so they don't want to acknowledge it exists.

Some people are downright hostile to hearing anything about Bitcoin or they think you have to buy a "whole coin" so they can't/won't etc etc...

A lot of people just wished it didn't exist so they ignore it.

[Btw... thank you for your contributions to the BTC community if you are who I think you are.]

5 sats \ 2 replies \ @spiderman 16h

I don't understand your urge to orange pill. Their ignorance is your opportunity to stack for cheap, why would you try to influence them to frontrun you?

Further, you know people have been kidnapped for their wallets/keys, right? By blabbering about bitcoin everywhere, you are painting a target on yourself.

0 sats \ 1 reply \ @028559d218 OP 4h

How do I tip the Uber driver Lightning, unless I ask him/her if they have a Lightning App? In which case when they say "no what's that" I just say "nevermind..."

But if it's a friend or colleague I may explain what Lightning is. Then some sort of conversation ensues.

I don't push things. I don't 'orange pill'. But if Bitcoin is designed to be used... then the idea is to use it. And how do I know when/where to use it unless I ask???

0 sats \ 0 replies \ @spiderman 1h

Fair enough, but I never tip anyway, so this specific scenario does not arise.

Friend or colleague? While doing peer-to-peer transfer, I have asked for BTC address (not lightning, and if they don't know BTC, as in on chain, there is not a chance in hell they will know lightning), and in almost all cases the answer has been negative. Most don't show any interest to begin with, some just say it's a scam. So I just let it slide, and kinda gave up. Now a days, I just stay humble and stack my sats, instead of trying to be a Bitcoin-bro.

But if Bitcoin is designed to be used... then the idea is to use it

Use for saving. For spending, you can still do it at sites like Travala, which I have done occasionally. But I am surprised BTC adoption is that low in America as BTC map shows a good number of retailers taking it, at least much more than here in Singapore.

Also, about spending BTC, it seems sites (like Travala, BitcoinTravel etc.) charge horrendous amounts, sometimes even > 10% more than what I would pay at a competing fiat travel agent to book the same flight/hotel.

I have a feeling that since retailer BTC adoption is abysmally low, these sites know some BTC rebels will happily pay a premium to make a statement, as part of the revolution. Me personally? I love BTC as a tool for freedom go up and numbers go up, but not passionate enough for the cause to pay a premium to use it.

I will wait until there is more competition among retailers for my BTC, so that premiums turn into discounts.

Also, let me take the opportunity to recommend one of my favourite write-ups on BTC. Written about eight years back, the author proved to be prodigally prescient. If you read, you will see how some assets become money, and they go through (roughly) the phases like

Collectives->Store of Value->Medium of Exchange->Unit of account

Bitcoin is still maturing as a store-of-value, so the next steps will come with time. Be glad because it shows you are still early. Not as early as the guy who could mine 20,000 coins in with a GPU at home and spent them for a pizza, but still early.

5 sats \ 2 replies \ @d50ed5ef1e 16h

Minds are rarely changed by reason alone, and systems follow their own inertia. Accept this truth—and keep building, keep waiting, for Bitcoin’s moment to come.

0 sats \ 1 reply \ @028559d218 OP 4h

Is this a Bot?

0 sats \ 0 replies \ @d50ed5ef1e 1h

I know what I said might sound like it came from a bot, but I’m not one. I just wanted to share a way I personally look at things～（＾∇＾） (But yeah, that sentence above was actually polished by AI)

5 sats \ 1 reply \ @Se7enZ 19h

It's this present reality on the ground that makes me think Blackrock and the tradfi cartel stacking in the background is current greatest threat and tragedy to Bitcoin right now. The general public desperately needs to understand it and proliferate it as usable exchanged currency, but the big boys are on their way to hoarding it as reserves and reducing / delaying the MoE application.

0 sats \ 0 replies \ @028559d218 OP 4h

The general public desperately needs to understand it and proliferate it as usable exchanged currency

It's really a shame that the "elite" and the institutions are buying so much of it.

Bitcoin was supposed to be a referendum of the shortcomings of the financial system... yet here were are. The institutions are buying it like crazy and the "elite" too to some degree.

Meanwhile the 'little guy' is like whaaaa?

5 sats \ 1 reply \ @optimism 19h

I believe that eventually everyone will use it

I don't see that path tbh. My thought is: the reason to use fiat is because state coercion. With Bitcoin there is no state coercion, thus not everyone will opt in, and it is important for it to remain opt-in: less tyranny, more liberty.

0 sats \ 0 replies \ @028559d218 OP 4h

Opt-in sure... but there was no 'opt in' to use the internet either.

Yet here were are.

If I didn't believe in the value of Bitcoin especially proof-of-work I wouldn't be sitting here after work replying to a bunch of anons on the internet on a very niche forum about magic internet money.

I believe that in the long run Bitcoin makes the world better.

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0 sats \ 0 replies \ @nitter 19h bot

https://xcancel.com/thecore21m/status/1935231007797690718

0 sats \ 2 replies \ @Solomonsatoshi 7h

Bitcoins use as a MoE has been very slyly and successfully OBSTRUCTED by the bankers and governments who benefit from the fiat monetary system which relies upon its MoE dominance. Even most Bitcoiners do not understand this. Yes it is a war of subterfuge where lawfully using Bitcoin as a MoE has been in almost all jurisdictions made effectively impractical. By designating Bitcoin as a speculative commodity liable for CGT using Bitcoin to buy a coffee makes that transaction liable for CGT- so who is going to calculate and pay tax everytime they use Bitcoin for such transactions? Nobody is and so Bitcoin MoE is slyly designated unlawful. Merchants can accept but only conveniently if they use an application which immediately converts the sats prior to them arriving in their fiat bank account as fiat, not sats. So why would merchants accept a payment that very few customers have or even understand and of those few potential customers most would be breaking tax laws to use? Very very few is the answer. The fiat operators have effectively obstructed Bitcoin MoE use without most people, even Bitcoiners understanding/realising.

0 sats \ 1 reply \ @028559d218 OP 4h

There is certainly some of that. No question about it.

But I believe the greater issue... is the lack of education. The lack of imagination. The lack of educational curiosity...

And the lack of "low time preference". To see out beyond the horizon and imagine a different world base on energy, computers, and and free-actors organizing around a different system.

I have acquaintances who sell refrigerators, refurbished goods, computer parts, artwork, shoes etc etc... in small amounts of course but they only deal in cash. They aren't declaring their 'artwork hustle' for their 'shoes hustle' for tax purposes they simply don't care/it's too insignificant.

And people wouldn't really care about taxes for Bitcoin either at daily levels. So I don't think that's it. It's more of an education issue.

0 sats \ 0 replies \ @Solomonsatoshi 4h

Most people struggle to understand the fiat monetary system...perhaps 2% of the general population and perhaps 30-40% of 'Bitcoiners' do. It is via control of the narrative that fiat rules. Yes it is lack of understanding that obstructs Bitcoin adoption most fundamentally and education can slowly change that and it is changing that very slowly, but the forces and momentum of narrative construction are firmly in favour of the fiat narrative drivers- the banks and governments as can be seen by the overwhelming narrative around Bitcoin. Most 'Bitcoiners' have swallowed the NGU speculative commodity narrative hook line and sinker. Most people do care about complying with the law unless they understand very well a very good reason for not complying- even then a majority will comply...unless there is a good reason not to as in side hustles where compliance is easily avoided when using cash...using Bitcoin now might be seen as risky as 90%? plus has already been KYCed! Lawful Bitcoin use as a MoE has been made impractical and that greatly assists the speculative commodity capture and control narrative. Deny reality all you like but it does not change reality.

0 sats \ 1 reply \ @avo 10h

Remember when I tried to encourage you a few years back to buy some Bitcoin? You would have more than doubled more money now.

0 sats \ 0 replies \ @028559d218 OP 4h

That would just piss them off. They think it terms of 'gains' and 'how many more dollars' they can get at least from what I've seen

0 sats \ 0 replies \ @denlillaapan 10h

@remindme in 14 hours

0 sats \ 2 replies \ @justin_shocknet 12h

2 universes

Reality and the matrix.

How many signs did I see

This touches on something that I think is the problem with people that expect Bitcoin to be a ubiquitous MoE... It's literal savings technology, yet, the insistence that it be used in the meatspace for coffee to be successful is the Coca-Cola mindset.

Everyone is aware of and uses this pointless cornsyrup water, not because it is useful, but because they spend billions on signage.

Moths to a flame.

0 sats \ 1 reply \ @028559d218 OP 4h

Just looking at it practically

0 sats \ 0 replies \ @justin_shocknet 4h

Indeed, to be practical we need to understand the psychology... and that's seeing is believing. A certain cohort cannot be told, they must be shown... and so we can explain the obsession with MoE as being because its more visible.

I think this explains why negotiating people into getting just a few bucks worth has been so successful historically, eventually they "see" green percentages in whatever app... the ever important show me part.

0 sats \ 0 replies \ @Themis 13h

Don't give any shit to them.

Let them drown in fiat.

0 sats \ 0 replies \ @guerratotal 13h

I think that part of the rejection of Bitcoin is due to the bad reputation it has been given. There is a black cloud over it that it is used by jihadist terrorists, criminals and now even drug cartels. Unfortunately, it is the criminals who have given it its first use, and since Bitcoin was born as an "anti-system", that is why it is not given the visibility it deserves.

0 sats \ 0 replies \ @Bitcoiner1 14h

Change your friends, change the world...

0 sats \ 0 replies \ @jgbtc 14h

People's attitude towards lifeboats and icebergs was very similar on the Titanic.

0 sats \ 0 replies \ @Coinsreporter 20h

I believe that things will eventually improve...

I believe it too. We need to think about how we can speed up the transition. Somebody has to come up with a model like Bitcoin Mart that can where things are exclusively bought or sold for Bitcoin. I think this can start from online but tbh there area few which aren't competent against established fiat based merchants.