POLL: When BTC price goes up, does your zap amount go down? \ stacker news ~meta

So only if from your personal perspective where you can buy goods and services with bitcoin in your own world will Bitcoin be money? What of the people who are living a bitcoin standard already? What of the people who have started to bank themselves with bitcoin because there no other options?

Bitcoin has no price.

346 sats \ 0 replies \ @Scoresby OP 11 Mar

I am but a young girl, unschooled in the ways of war, but I'd wager most people who live on a bitcoin standard or use it to pay for their daily life, sell btc for fiat in some way before purchasing the goods/services they need. Price matters.

244 sats \ 2 replies \ @ek 11 Mar

So people don't buy bitcoin? And don't sell it? Do you earn or mine it? Never bought some?

What is the definition of a price for you then? What do you call this number that a lot of people are waiting to hit 100k?

Please elaborate because I clearly don't get what you mean.

100 sats \ 1 reply \ @tomlaies 11 Mar

So people don't buy bitcoin? And don't sell it?

No they don't. It's called "exchanging". Just like you exchange Euros and Dollars - nobody says they bought some Euros. At least nobody who knows what these words mean. They changed/swapped Dollars for Euros

Do you earn or mine it? Never bought some?

Nope, never. Only currency swapped or exchanged shitty currency (fiat) for good currency (Bitcoin)

What is the definition of a price for you then?

The word "price" is the quantification of goods and services.

What do you call this number that a lot of people are waiting to hit 100k?

It's called "exchange rate". Something like "spot rate" might be okay too if you insist.

21 sats \ 0 replies \ @ek 11 Mar freebie

Okay, I see, makes sense.

If we say we exchanged or swapped something, we obviously would say "exchange rate". If we say we bought or sold something, we obviously would say "price".

However, I would say property is missing in your definition:

The word "price" is the quantification of goods and services.

Since I assume you wouldn't say that people exchange dollars for houses, but they buy or rent property which means they have a price.

Now I could go into if bitcoin is property (and money at the same time) and that there are other, less convenient definitions for price but your arguments do make sense so thanks for replying.

64 sats \ 4 replies \ @Undisciplined 10 Mar

I'm curious how other stackers will answer. For me there's no relationship between the two.

134 sats \ 3 replies \ @freetx 10 Mar

Over a long time period there is a relation. In 2011 there were online fountains giving away 0.25 BTC for clicking a button, those disappeared once we broke the $1-$3 range.

If SN had existed then do you think we would be happy sending/receiving 100-1000 sat zaps? It would've been 100x that.

Likewise, in 4 years when BTC breaks 1M, people will not be giving 1000 sat zaps ($10)

81 sats \ 2 replies \ @Scoresby OP 10 Mar

This answer makes sense to me. Obviously no one, no matter how much they believe 1 sat = 1 sat, is paying 10k bitcoin for a pizza anymore.

28 sats \ 1 reply \ @Undisciplined 10 Mar

I agree that it will evolve over time, but the rewards system of the site determines what an optimal zap is more than the fiat exchange rate.

Keep in mind too that quality might improve, such that the zapping amounts don't seem quite so unrealistic.

35 sats \ 0 replies \ @freetx 10 Mar

but the rewards system of the site determines what an optimal zap

fair point.

25 sats \ 0 replies \ @ch0k1 10 Mar

1 BTC always equals 1 BTC 😜

21 sats \ 0 replies \ @hasherstacker 10 Mar

https://m.stacker.news/19917

0 sats \ 0 replies \ @0xIlmari 11 Mar

Prices of everything are falling.

https://www.pricedinbitcoin21.com/landing

I don't see why prices of quality posting shouldn't follow.

0 sats \ 0 replies \ @0xIlmari 11 Mar

Zap amount goes down because of a radical concept of "purchasing power".

0 sats \ 0 replies \ @030e0dca83 11 Mar

Zap amount depends only on quality of posts. It represents Proof Of Work, dollars' days are numbered

0 sats \ 0 replies \ @beorange 11 Mar

Stays the same... 1 BTC = 1 BTC

0 sats \ 0 replies \ @bzzzt 11 Mar freebie

i think im one of the 3 people that even zaps,period, on nostr 😮‍💨

0 sats \ 0 replies \ @SaToSHiWoMaN 11 Mar outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.