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10 sats \ 1 reply \ @nout OP 24 May \ parent \ on: Bitcoin Jungle needs buyer adoption, not merchant adoption bitcoin
You made the point last time, but this time it clicked more with me. I especially like "don't buy bitcoin, earn bitcoin" framing, because that indeed seems to be missing. Now, one aspect to consider is that all these sellers at the Uvita market accept bitcoin and so they already earn it, but quite often they turn it into colones. So even if people earn, it may not be enough...
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0 sats \ 0 replies \ @telcobert 2 Jun
"this time it clicked more with me" Glad to hear it. Bitcoin in the real economy requires quite a different thought model, not "gold producer" for M0 but "circular trade finance" for M1.
"they turn it into colones" Exactly the sore spot. Sellers do that because - for all their faults - colones capability includes a Wage Fund for the earning/spending paradigm.
In a full Bitcoin system the sellers at the Uvita market accept bitcoin and then don't exchange it for colones but they redeem the bitcoin-denominated bills of exchange which paid for their merchandise on stock. Circularity.
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