Discussion
There’s a way to fix this and we all know there is… whose gonna be the first to say it
I want to spend my Bitcoin… I USED to be able to spend my Bitcoin
It’s super absolutely fucked up that I woke up in an American world where nostr is the only place that I can spend my Bitcoin
We can do better
It used to be better and it was very simple and actually mostly private
MASSIVE
The outside world has so little idea what’s coming 🥰
People will spend their bitcoin they just bought.
No different than having money in savings.
that last sentence is all that matters 🙂↔️
the problem is that technically it's a taxable event
the problem is that its a taxable event
nostr:npub1v0tfjv5ahr3c260jtzdk5w48krerrnkg8fmcnc5lpguk0qda04eqzm3m3e this may give you a clue as to why
I would love being able to spend in Bitcoin, but worrying about the tax implications makes it impossible for large scale adoption.
Merchant adoption is probably the canary in the coal mine.
NICE
Right now I have to go pretty far out of my way to spend Bitcoin at physical locations, even though I'm in a major global city. I do it, but can't every day. So it's not a habit and I mainly use my fiat credit card for things.
Likewise with online payments. Some retailers accept gift cards, but it's still a lot of friction tracking them all then entering codes at checkout (Amazon is unfortunately the best UX for gift cards - convenient, but makes me feel dirty buying stuff there).
If suddenly 30% of merchants start accepting Bitcoin I will be able to pay with it almost all the time. Bitcoiners will be activated to do this. They will start using wallets more, finding merchants because they know one is likely just down the road, and creating a habit of paying with Bitcoin. They can show their friends and people in the queue. Merchants hopefully see savings on these purchases because Block will email them their fees and charge backs broken down by payment type.
It will be slow at first, but the friction is much lower than 2014 where you had to wait for confirmations and QR UX wasn't familiar. Make it so the merchant never has to add friction for fiat payers and they'll never need to turn it off.
We have to start somewhere. This will resolve the chicken and egg issue of: people don't pay with Bitcoin because they can't pay with Bitcoin.
nostr:nprofile1qqsx845ex2wm3cu9d8e93xm282nmpu33emyr5aufu20s5wt8sx7h6uspzdmhxue69uhhqatjwpkx2urpvuhx2ue0cnuf5l nostr:nprofile1qqs2gndun24r2utk5l20tscsdprw5zttvm0qk58w8xhl2ja2kmzt7jcpvemhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33x5ehsmt90q6ry7p5vd5xge3hx5mksupnwym857rpvaukk6m9dvmhqer8wa6hwepsxu6rjd35v34hj6rp89ensvnj096ns0mzwfhkzerrv9ehg0t5wf6k2qg7waehxw309ahx7um5wgkkgetk9emk2mrvdaexgetj9ehx2ap0qy08wumn8ghj7mn0wd68yttsw43zuam9d3kx7unyv4ezumn9wshsxs66av nostr:nprofile1qqs09d790p6zfj8eeakyfq8tn862xacvcp3n0f8s6xcsnw5yndryrycpzemhxue69uhksctkv4hzucmpd3mxztnyv4mz7qgkwaehxw309a5xzan9dchxxctvwesjuer9wchszrnhwden5te0dehhxtnvdakz7s20s5u nostr:nprofile1qqsqkvx4c56awla8ucd0hq5unr9wk603ysnsz278ttr7h0uvn8cjnecpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsmgxmk7 nostr:nprofile1qqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gpp4mhxue69uhkummn9ekx7mqprfmhxue69uhhyetvv9ujuurjd9kkzmpwdejhgte9xgcqz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcllmq99 nostr:nprofile1qqsrwnhf8gel8dh3q9pjvqvr6dtauyvy4dwnr3ja4dnhf888xe3rx3cpzpmhxue69uhkummnw3ezumt0d5hszrnhwden5te0dehhxtnvdakz7qghwaehxw309ashgmrpwvhxummnw3ezumrpdejz7xdxsku nostr:nprofile1qqsphuaefujdr6vzpsxyds7ufh5m6yfk6n0fm7jj8zw6ks8g5mnx8rq4kygkc Remember, our merchants are the greatest scale example of Bitcoin for every day payments. Thank them. Buy their goods. Tag more of you know them.
Merchants I've talked with, for those moatly in the west, either don't know, or don't want to deal with the taxes on Bitcoin payments.
Too much friction, if we can remove that, it's half of the issue.
bloody users not doing what the unaccountable autists want again? Tsk tsk, must be a day ending in Y!
Beautiful.
Perhaps the issue largely boils down to how what ever is marketed?
If one offers X for $10 in fiat or $10 in BTC, I"m going with $10 in fiat every time.
If one offers X for $10 in fiat or $1 in BTC, now I'm interested in paying wtih BTC.
The latter option makes you a speculator, not a true consumer. Spending Bitcoin instead of hoarding it shifts its role from a mere asset to actual money. Every time Bitcoin is used in place of fiat, the monetary demand for Bitcoin increases while demand for fiat declines. This creates a feedback loop where Bitcoin’s value grows as its use in exchange grows.
This is not just theory but historical pattern. When gold became widely accepted in trade, its purchasing power surged. When silver was demonetised, its value collapsed relative to Gold. The monetary premium vanished.
If gold were used as money today, its fiat price would almost certainly be far higher. Bitcoin is no different. Its long-term strength comes not from speculation, but from increasing monetary utility. The more we use it as money, the more it becomes money.
🙏
bluesky-quality
WE CALL HIM... NO CAPS JACK
⚡️