888 sats \ 1 reply \ @SqNr65 10 Jul 2023 \ parent \ on: Bought something with Bitcoin yesterday bitcoin
It doesn't make sense to spend Bitcoin right now tho, the opportunity cost is too high.
If you're spending it because you want to make a change in the world, and you're willing to incur a cost to do so, count me out. I'm in this exclusively to extract benefits for myself, and right now it's much more beneficial to hodl than spend, so more people will hodl than spend. You can't get people to act against their own interests, trying to do so is futile and evil.
Remember Gresham's law. Bad money drives out the good. Bad cigarettes were traded in prison and good ones were saved. Coins with less gold and more fillers were spent while pure gold coins were saved.
People will always hold the valuable money and spend the shit one.
This will continue until the shit one becomes so shit that nobody wants it. Then we'll see a transition into medium of exchange.
But don't worry man, and don't hurry. Bitcoin is for the long haul. People who hodl are still contributing to the success of Bitcoin and they're bringing us closer and closer to a Bitcoin only world.
I am unconvinced by your logic, but I appreciate your thoughtful reply. You do make a good point on good money v bad.
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