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63 sats \ 6 replies \ @siggy47 OP 16 Jun \ parent \ on: Why Gresham's Law Doesn't Apply To Bitcoin And Fiat econ
That's my perception also. It seems obvious, in fact. I have literally had people say to me at PubKey "why would I spend my precious bitcoin here when they accept dollars? "
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86 sats \ 5 replies \ @03365d6a53 16 Jun
actually it's not obvious..
it's much more convenient to pay with btc than it is to purchase the local cash variant and pay with that
plus you're not supporting banksters
plus you're supporting a circular btc economy and helping to bootstrap the payment network
ALWAYS pay with btc. Spend and replace.
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73 sats \ 0 replies \ @siggy47 OP 16 Jun
The fact that Gresham's Law is in play is obvious. Bitcoin is better money than fiat, and people want to hang on to it. This is especially true as fiat sheds value through inflation. Personally I spend bitcoin as often as I can, but I get a lot of pushback from hodlers who think I'm crazy.
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21 sats \ 3 replies \ @joda 17 Jun
I've never seen a situation where Bitcoin is the most convenient way to pay. Even if a store takes Lightning, it's still easier to tap a credit card.
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21 sats \ 0 replies \ @03365d6a53 17 Jun
pay with credit card?
how embarrassing.. to rely on a bank, to make a purchase.
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0 sats \ 1 reply \ @SatsMate 17 Jun
Right or take the phone like a Harry Potter wand over the payment terminal. We need this level of ease of buying - the apple pay ease of hovering the phone.
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21 sats \ 0 replies \ @03365d6a53 17 Jun
bitcoin nfc cards already exist, they've been out for ages
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