This article discusses the concept of spending Bitcoin and its role in the economy. It emphasizes that Bitcoin is a peer-to-peer digital cash system and should be used as such, rather than simply being hoarded as a savings vehicle. The piece encourages Bitcoin holders to spend or exchange their Bitcoin to demonstrate its economic value and to prove its legitimacy as money, referencing the famous "Pizza Day" where Bitcoin was used to buy pizza, marking the first real-world transaction using Bitcoin.
The article also critiques centralized exchanges like Coinbase that impose high fees and KYC (Know Your Customer) requirements, making it harder for users to use Bitcoin freely. It advocates for peer-to-peer methods like Bisq and RoboSats for acquiring Bitcoin without going through exchanges that require personal information.
The writer also touches on the importance of security when using Bitcoin and suggests using more secure operating systems like LineageOS or GrapheneOS for better operational security.
Finally, the article highlights a few circular economy options for spending Bitcoin, recommending various businesses that accept Bitcoin for goods and services, such as handmade soap, low-sugar beef jerky, and premium coffee. It suggests that using Bitcoin to support such businesses contributes to the growth of the Bitcoin economy and helps demonstrate its practical use in everyday life.
In summary, the article encourages readers to embrace the practical use of Bitcoin, avoid centralized exchanges, prioritize security, and support businesses that accept Bitcoin, thus strengthening the circular Bitcoin economy.
This article discusses the concept of spending Bitcoin and its role in the economy. It emphasizes that Bitcoin is a peer-to-peer digital cash system and should be used as such, rather than simply being hoarded as a savings vehicle. The piece encourages Bitcoin holders to spend or exchange their Bitcoin to demonstrate its economic value and to prove its legitimacy as money, referencing the famous "Pizza Day" where Bitcoin was used to buy pizza, marking the first real-world transaction using Bitcoin.
The article also critiques centralized exchanges like Coinbase that impose high fees and KYC (Know Your Customer) requirements, making it harder for users to use Bitcoin freely. It advocates for peer-to-peer methods like Bisq and RoboSats for acquiring Bitcoin without going through exchanges that require personal information.
The writer also touches on the importance of security when using Bitcoin and suggests using more secure operating systems like LineageOS or GrapheneOS for better operational security.
Finally, the article highlights a few circular economy options for spending Bitcoin, recommending various businesses that accept Bitcoin for goods and services, such as handmade soap, low-sugar beef jerky, and premium coffee. It suggests that using Bitcoin to support such businesses contributes to the growth of the Bitcoin economy and helps demonstrate its practical use in everyday life.
In summary, the article encourages readers to embrace the practical use of Bitcoin, avoid centralized exchanges, prioritize security, and support businesses that accept Bitcoin, thus strengthening the circular Bitcoin economy.