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0 sats \ 8 replies \ @thrown 21 Mar 2022 \ on: Is “Value for Value” fatally flawed? bitcoin
If there is a fatal flaw, it is with the hard supply cap of bitcoin to begin with.
You’d have to be kinda insane to spend bitcoin on anything, let alone on something as silly as a podcast.
I think this is only true if you're on zero fiat right now. Otherwise you can always spend and replace, which is the same net result as spending fiat
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Yep. For all we know, Bitcoin Pizza Guy spent 10,000 bitcoins on pizzas but bought 100,000 bitcoins in the same day.
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Didn't posting this comment cost you bitcoin?
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It did indeed. But all of the sats I got here, I got for just posting. So it doesn’t really feel “real”.
Maybe during the next bullrun i’ll take my money and go back to reddit 😂
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What if you occasionally spending it makes the whole network more valuable?
It may be worth spending sats occasionally, since then your buying power will grown on the rest of your sats...
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You hit on a major problem i have with the “circular economy” shilling.
The rich people just hodl. The poors are responsible for keeping the economy moving with every day purchases (which makes the rich hodling more valuable).
It goes back to my first point about being crazy to actually spend it.
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You need to spend money every day in order to live.
You also need to make money somehow, whether by working a job or having some business.
And ideally, you make more than you spend.
It's as simple as that. Bitcoin is just a way of storing value.