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102 sats \ 9 replies \ @Coinsreporter 17 Oct \ on: Why stablecoins and stablechannels are dumb bitcoin
Merchants don't get it because they also need to restock and from where they buy, they don't accept Bitcoin. Until manufacturers start accepting Bitcoin, merchant adoption isn't gonna pick up.
Partially true, but not all of a merchant's expenses come directly from manufacturers. Merchants could accept bitcoin and use part of it to pay for expenses on things that aren't from manufacturers. There are travel websites that accept bitcoin like cheapair and travala, and things like uber and amazon are easy to use bitcoin for thanks to btc-accepting gift card sites like bitrefill and the bitcoin company.
For manufacturer stuff, the merchant could get a quote from the manufacturer, sell enough bitcoin to pay that bill, and then pay it with the fiat -- all while petitioning them to start accepting bitcoin too. And seek out manufacturers that do accept bitcoin. I would like to start assembling a list of such. I saw one advertising at btc++ in Berlin last week, but unfortunately I forgot their name.
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For manufacturer stuff, the merchant could get a quote from the manufacturer, sell enough bitcoin to pay that bill, and then pay it with the fiat --
This makes sense but then there's a problem of sudden price drop. The merchants and the manufactures don't get it because of volatility in price as well.
I meant if the source of a product starts accepting Bitcoin, there will be no problem for anyone. The money (Bitcoin) will start rotating in the economy. We'll start seeing an MRP in Sats on the products.
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You should read I, Pencil by Leonard Reed. There are unimaginably many sources for even the most mundane products.
I think the wisest way to proceed is to keep making bitcoin easier to use for those who take an interest in it. It'll be a gradual and imperfect spread through the supply chain.
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I, Pencil
Good suggestion, I've always heard great things about that book
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Here's the pdf
It's hardly 10 to 15 minutes' read.
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It's pretty short. You could probably knock it out before bed tonight.
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Thanks! I'll definitely go through it.
I agree with you on Bitcoin adoption as well.
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Just read it. It's a great essay. Though, in order to digest it completely I'll need to read it again, perhaps many times.
Thanks 🙏
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Bitcoin is the stablecoin... but yeah is long way until shitcoiners and fiat maxis will get it.
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