Replying to Avatar Vlad, Bitcoin Takeover Podcast

Gm, just woke up from yet another horrible dream.

I was at a Bitcoin conference 15 years after the project’s launch, and everyone was paying for stuff using their credit cards.

“It’s Greaham’s law, you spend the fiat first, earn points from Visa, and only HODL your bitcoins!”, they proudly said while ignoring the simple dynamics of supply and demand.

(they decrease the demand for bitcoin as money, while strengthening the demand for fiat)

Anyway, woke up and I’m happy that I am going to Pizza Day at Paralelni Polis next week 🍕
fc
tolot 1y ago

I agree, we need make sats flow way more into the real economy.

I cannot agree with the supply-demand reasoning: the fiat money acceptance is NOT subject to supply-demand rules...you just HAVE TO accept it, no demand-driven acceptance. By not demanding to spend our sats we simply lower the supply of sats-payable services. No "fiat-supplied services" number is increasing, full stop

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