The place we failed as Bitcoiners is merchant adoption. I cannot even describe how bad it is, I have all these fancy non-custodial wallets I use and I even contribute to one but I can't use them to spend anywhere because nobody wants/accepts Bitcoin.
Discussion
Merchants don't even want to think about bitcoin. Roger Ver proved this. Every merchant who "accepts bitcoin" has the "bitcoin phone" in a drawer somewhere, and maybe 1 person knows how to operate it. It is a pain in the ass, and wont cease to be until NCR terminals come out of the box speaking lightning.
Businesses need integration with inventory, tracking of time and fiat pricing of sats received clear accounting rules and business custodial solutions. Square is best positioned to do so but hasn’t. Consumers hate being over taxed to use.
Go to Vancouver! 25+ merchants and growing! nostr:npub1864jglrrhv6alguwql9pqtmd5296nww5dpcewapmmcazk8vq4mks0tt2tq
There's no point in them accepting it to just swap it for fiat though.
It's also infinitely more important that the demand for Bitcoin as payment comes from those who produce, not the middle men who sell.
If manufacturers (basically just China) and farmers (all over the world) demand payment in Bitcoin then that's all we need to kick off a global Bitcoin standard.
Want stuff? You need to have Bitcoin. Want food? You need to have Bitcoin. Merchants will want Bitcoin because they need it to pay for the goods they are selling. Likewise, employees will demand their employer pays in Bitcoin because they need it for food etc.
We can’t significantly force a once-in-5000-years phenomenon. Necessity is the mother of adoption, and it is a function of the evolution of fiat. Things are heading in the right direction and they’re likely to accelerate in the not to far future
This sometimes frustrates me too. But I try to make it into inspiration and motivation and hope instead of just accepting and giving up. I do see some progress.
Painstakingly slowly then gradually then suddenly.
This. We need to come up with better ways.
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