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21 sats \ 3 replies \ @freetx 14h \ on: Question: What are the problems with Lightning Again? And Where's Adoption??? bitcoin
Because people don't want to spend their bitcoin, thus no vendors bother integrating it into POS payment terminals.
Bitcoin is appreciating too fast, therefore it makes no economic sense to "buy a laszlo pizza"
Alternative view, the opportunity cost of spending bitcoin is the same as not holding that bitcoin in the first place. So, any reason to not spend Bitcoin is also a reason to hold Bitcoin.
I want to be able to spend my Bitcoin, because the more I can spend, the less I spend, because I can hold more total Bitcoin and fewer dollars/pounds/euros.
Nobody wants to buy the next "Laszlo pizza", but how many equivalent Laszlo pizzas have you bought by not buying more Bitcoin, purely because you need to hold a fiat balance?
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True.
However by 'being able' to spend it... and by being familiar with what it is, and could become, we better appreciate it...
Someone who has not spent it, especially via lightning, cannot value it in the future imo.
1 sat at a time is spending too
with regard to the pizzas... that assumes that the growth in exchange rate/purchasing power is something like... 100000000% which is not realistic. Not at least in many human lifetimes by which none of us today will be here.
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It still makes sense to be able to send 1 penny's worth through a lightning channel.
If someone doesn't know how... or they're not interested then how can they evaluate Bitcoin's long-term value proposition?
It's like investing in the car, without ever driving one or learning how. Eventually Bitcoin is designed to be spent, even if it's 10 sats at a time.
And the fact that Bitcoin, proof of work, can be sent 10 sats 1 penny at a time is really incredible. No other system can do that.
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