22 sats \ 23 replies \ @DarthCoin 7 Dec 2023 \ parent \ on: How risky are Stablesats? bitcoin
Have Fun Being REKT
How do you not get rekt when you work for a year getting paid in bitcoin and the price drops 50%?
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Because I am not a fiat maxi mindset like you and I do not give a shit about BTC price.
I earn in BTC, I spend in BTC, I hold BTC. No more fiat here and I closed all bank accounts.
Simple as that.
The first step into Bitcoin adoption will be when people will move away from fiat mindset.
Otherwise is just a mess, we will never have bitcoin adoption if we always go back to fiat.
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Say you earn 50,000 and have cost of 30,000 and the value of your bitcoin decreases 20%. You are paying a 20% 'tax' for market volatility and your profits are cut in half. Why would you want your profits be cut in half? For many that risk is impossible to take because they have to feed their familiy and take the risk of not being able to purchase new stock to run their shop.
Again, you're speaking from your privileged but limited perspective and you've never had responsibility for employees or feeding a family.
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the value of your bitcoin decreases 20%.
now do the oposite (which is the most likely outcome)
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If the value of bitcoin decreases 20% that means your income is 20% higher in sats.
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Why would you want your profits be cut in half?
You see? your mind is still back to fiat "profits"... my mind is not. We are not the same.
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Was a bad explanation. You should keep all profits in bitcoin. Your treasury should be 100% in bitcoin. But your operational liquidity?
What if you have 5 employees with families. How can you justify taking a risk that you pay them only 50% of their salary?
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deleted by author
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Media business. Great question, this would make for a great survey among bitcoin-only executives. Would bet majority does hedge with usd.
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Did you read what I said before?
Earn in sats, spend in sats, hold in sats.
NEVER go back to fiat.
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When you spend in sats, how are you going to pay the same salary when the value of your sats has been reduced 20%? Fast for 4 months and not pay your rent?
What you suggest is only possible for people who don't have any cost, live off a farm they inherited or were able to purchase due to their privileged life. You get paid in sats and your only cost is your internet. You only eat eggs from your own chicken, produce your own energy with solar and pull the water out of a dirt hole.
It's not how it works for most people.
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It's not how it works for most people.
Is not working because their mindset is still stuck in fiat. That's why.