No one spends BTC
Saylor has no plans to sell BTC
The entire mantra is to HODL
BTC will not be spent.
So, … what’s the plan?
#asknostr #bitcoin
Discussion
At some point it'll be Nostr. Rich in technology but no users. Eventual death.
Nostr will eventually be the social media platform of choice, just going to be a decade.
UX needs to significantly improve.
I highly doubt it. The reason being that it takes self motivation to choose social platform which does not have any recognition or anything that it can call proprietary. I understand that being able to speak freely without the fear of being censored helps but if you think about it, it actually deters people who wants to have normalcy from joining. If there is no censorship, spam will take over. The big companies like X & Meta can actually pay people to just Spam Nostr to the point where it becomes frustrating for everybody.
Twitter only became popular after businesses joined and put their twitter name in advertisements. There was nothing normal about it. When businesses want bitcoin, they'll want options to get paid. Nostr is that. Twitter didn't advertise - the businesses that joined it did all their advertising. I remember it well. Nostr is only getting better ; X is only getting worse.
The stats disagree on Nostr.build
I could give a shit. Its wrong.
Hey Mr President. Welcome to #nostr. Looks like you're using an alias
Right?
Nostr has been around for 2.5 years?
It’s clunky, decentralized in many way including access, and it’s still being developed.
Doesn’t mean it will always be that way, and it doesn’t need to be X.
What’s being built here is bigger than just a social media platform.
Nonsense.
People do spend Bitcoin. I bought a had and soap with Bitcoin the other day.
You can’t eat or live in your Bitcoin. Eventually everyone will spend or borrow against their Bitcoin. But even if not that many do, that doesn’t take away from the value proposition and the ability for people to spend it
Hat*
It will be spent because I still need soap to take a shower. Hahaha
I spend btc so you're wrong.
Some wallstreet bros do not represent all of the people using Bitcoin
I’m making a film on this exact topic right now. The fact is bitcoin was a MoE before it was ever a SoV. It is being spent. I spend bitcoin all the time. Zaps=MoE. Also every time someone sells for fiat it’s technically being used as a medium of exchange. An exchange of value with yourself but on one hand I think this is the hill to die on, on the other it’s inevitable because it’s better money. Especially for cross border payments and in places where financial rails are lacking. Just a few thoughts.
The incentive for you to spend some bitcoin at your local farmers market or within the nostr community is that you’re not just directly supporting the business but you’re supporting the network thereby making ₿ more valuable in the process as well. Of course, stack your ass off and have a chunk that never leaves cold storage, but also spend and circulate.
Your comments are valid, but there’s an entire network of small businesses growing strength by accepting bitcoin as payment. nostr:npub1u8umhxc4ewe7f8qvs9pxjtcs3qagnzvv5qal7kf7fq08zsuwhawqyu2gqg and nostr:npub13q8evu294dnt20vacfuagj5hy2agwhfr93el8h68qlg708zrxm8qnd6vpv run a podcast and have new businesses on almost every week talking about bitcoin and their business.
Sure, and perhaps they’ll grow.
But it seems to be the minority, and simply not the way BTC is viewed.
A person doesn’t spend their “store of value.”
No one goes out and spends gold.
If you are holding dollars you are forgoing storing your value in a better money. Most people spend dollars because they are ubiquitously accepted. If even half of the merchants in your city accepted Bitcoin, there would be no need to hold dollars. The “store of value so I won’t spend it” narrative is total nonsense. People don’t spend Bitcoin because it’s accepted almost nowhere. Merchants need to start asking for it and the sats will flow to them. As nostr:npub1hed86a9rcymkq95r8mvwqtq4w82mqmatyaadf4kwuftq4g37mxlqt4n4kx said, reward the ones doing this.
US govt has no plan to sell the gold from Fort Knox. But this represents the stability of the economy and for example it can be the a credit cover.
Saylor's BTC fortune also can be cover to a credit, can insure a real estate developing plan or other huge project.
Btw: all BTC could be same or similar functions, including tje US Strategic Bitcoin Reserves.
This is a possible plan
Yes, this is more in line with what I’m thinking.
Jack Mallers post on “owning BTC, don’t spend it, borrow in fiat based on it.”
Your debt gets cut in 1/2 every few years.
BTC doesn’t need a L2, easy to access off-ramps, etc, etc
It’s a store of value for that will reprice EVERYTHING, eventually.