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So, do you not pay your bills?

I skip the whole giving my bitcoin to those with bigger bags part and just use the fiat I make to pay my own bills while using any extra fiat to stack sats to participate in the circular economy you speak of.

I just don't think it makes sense to buy the bitcoin from strike then sell it back to strike just to pay your bills. Plus, my bills are $2000/mo. I'd be buying $2000tmo in bitcoin then selling it to pay bills and there's no way I could come up with another $2000/mo or more to replace the bitcoin, I did have...

It's not like more are going to be magically printed out of thin air.

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Discussion

Jordan S 1y ago

Ok, so if Bitcoin is too valuable to spend then it fails to serve its function as digital cash.

Please tell me what gives bitcoin value besides scarcity?

ภ๏รtг๏ภคยt 1y ago

It's not to valuable to spend. You CAN spend it on bills via strike if you choose to do so.

I'm just not because I don't think using a limited asset that hasn't reached anywhere near its peak value or use case, doesn't make much sense.

Let me ask you.. do you think people would pay their bills in Tesla stock if robbinhood gave the option?

Jordan S 1y ago

Its hard to say, I think generally they wouldn't because it's cost ineffective to do so.

But I'm sure there are people who could utilize as a tool for leverage, I would say Collateralized Debt Obligations in a way function similarly to that.

My point however is Bitcoin's value from scarcity is an issue that prevents it from being used as digital cash, which is what it's intended purpose was.

ภ๏รtг๏ภคยt 1y ago

Bitcoins scarcity is not preventing anything. People can use it as digital cash.

And people also can choose not to yet.

When you use bitcoin as digital cash is up to the holder of the bitcoin.

And imo thats why strike wants you spending your bitcoin to pay bills. It puts more bitcoin in their hands, less in yours.... because they know it's not time to spend bitcoin like that. We're just not there yet. There's still more value and uses to be gained.