pull down to refresh
0 sats \ 5 replies \ @hynek OP 19 Jul 2023 \ parent \ on: What is your main reason for not paying with bitcoin? bitcoin
Have you heard about Thier's law?
Gresham's law is only one of the effects. Why don't you pay with grains → you should according to Gresham's law since it have worse properties then fiat.
And when you pay with fiat you force yourself to keep fiat in the future...
Who says I keep any fiat around?
reply
If you have no fiat you have to pay with bitcoin, right?
reply
Not really. I don't know in what world you live in, but around me nobody takes bitcoin directly. I don't loose my sleep over it though. Whenever I need some cash I just sell some sats and pay whatever I need to.
And yes, because I do it P2P I do need to keep a fiat buffer. But it's a small one.
Would it be slightly better if everybody just took my sats directly? sure. Is it a big issue for me that would lead me to waste precious sats? no.
reply
My point is that it wouldn't be wasting of your sats. Because you could lower the fiat buffer with every bitcoin payment.
reply
You might have a point. But mine is that bitcoin should be voluntary. I see little point in trying to shove it down everyone's throat. Sure, it's nice to educate folks, but there are people that will just not change their ways or see things the way we do, and that's fine.
Bitcoin should win on its own merits by having superior traits. In the meantime the best strategy for me is to hold it and spend softer money first. It's holders that give Bitcoin it's value after all. So I see it as a bit unproductive in trying to demonize them/us.
I will spend some sats here and there too. But this is more like charity, there's a component of experimentation too and in some cases, since I already have sats, the experience is actually better. However, I'm under no illusion; these small deeds aren't my primary contributions to the success of Bitcoin. That would be me using it as a savings vehicle.
reply