Replying to Avatar saunter

I was fifth bitcoiner that visited this coffee place today, but first one to pay with bitcoin.

We have more bitcoin merchants than Bitcoiners willing to spend. We don’t need more merchant adoption, but spenders adoption

Avatar
Eluc 1y ago 💬 5

This make me crazy as well, in Bitcoin meetup people paying in Bitcoin are still very low and we have no capital gain tax, so nothing to report if you spend and buy back.

Same speach, always, "why spend my BTC if it should worth more tomorrow?" Why I answer: "If you have the cash to pay, you have the cash to buy more Bitcoin, if you really believe it will be worth more tomorrow, buy at least as much as you spend, buy 1.2, 1.5, 2 times more of possible, when price is going down 2-3% or more, buy in advance for your next spend. Using your Bitcoin will only make it even more valuable in the long term."

On the other end, merchants who are serious about it should offer some discount, cards cost a lot, like 4-6% minimum, cash cost as well, you must maintain change, spend to keep the cash safe between 2 working days, insure the risk of thief... A merchant accepting Bitcoin without 5 to 10% discount is not serious about pushing Bitcoin usage.

Reply to this note

Please Login to reply.

Discussion

Avatar
Juraj 1y ago

People who have fiat to use have a shitcoin problem.

How did that shitcoin get to their wallet and why isn't it btc already?

ed
ede3d957... 1y ago

Or better Monero. Much more easy, when you do not need to track your buys and spends for capital gains taxes. I use it everyday and merchants are understanding the "digital cash" use case.

Avatar
tomas⚡️ 1y ago 💬 1

We’re also convinced this is a key point. Bitcoin-preferred merchants will need to incentivize holders to part with the coins since without that all the benefits of using better money are on the merchant side. “Show me the incentives, I’ll show you the outcome”

Avatar
Greg Tonoski 1y ago

There isn't any coffee worth spending BTC.

Avatar
caleb 1y ago

You may be pushing a rope. It may be technology and necessity have to fix this. Technology improving lowers the switching cost and necessity is something like frozen bank accounts or censored transactions. You might make individual progress here and there with education and discounts but Bitcoin is still a lot to take in, it’s still tricky to use, and fiat works “well enough” for many.