Subnostr

I understand that people want to exchange their btc on p2p platforms for their bankaccount fiat, because then it is multipurpose.

But isn't there a way, to have "multipurposness" and a bit more privacy?

I think buying gift cards is a better option, because then it is harder to locate the movement of money, but kind of still possible. In one case not, if you buy it with cash in a shop.

But if you have a gift card, you can only spend it at one place. But then I guess gift cards for grocery shops can ideal, because most probably everyone buys food? Or there are multipurpose giftcards that you can spend at multiple places.

What is your opinion?

Quentin 2y ago

I think there are no other options, the alternative is to pay directly in BTC. What you ask is a form of money (multipurpose), therefore the answer is, encourage the use of BTC and use it. interesting discussion 😀

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Discussion

hh 2y ago

OK talking about hot takes, this is my hottest BTC take:

If you spend your BTC today, you're incurring in an egregious, irrationally HUGE cost of opportunity.

This, of course, if you truly share the community's commonly spread belief that BTC will in the not so distant future beat gold's mcap (1 BTC = $500k) and who knows what else in the long run.

Only if you have hundreds or thousands of BTC (i.e., you're a multi-millionaire) would this make any sense, an even then the math is still the math, and you might as well be lighting your cigars with $100 bills.

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clr 2y ago

If bitcoin is not accepted anywhere and nobody spends it, it won’t have any value.

I understand that it’s rational to spend fiat currency first, but my question is, why do people still hold fiat in the first place?

Code & Psychology ⚡️ 2y ago

I agree, but you can't use btc to buy btc 🤔

Quentin 2y ago

I think that the way to see it should be the following, exchange time (work) for BTC and then use this as a form of payment. If we see it as an asset we make a mistake. (in my opinion 😀)

Code & Psychology ⚡️ 2y ago

I am not sure if it is possible for everyone. And this would lock you out from having btc from your already fiat positions.

I guess, moving to a new medium of exchange does not happen overnight. First people needs to realize if that new payment medium is worth more to hold, than their original, then they can start to hold it as savings. It does not have to be an asset to have your savings in it. Then if places start to accept it, then you can start to live from it as well. But it won't happen overnight in my opinion. It does not seem to be the interest of banks, governments.