Why would I buy food with #bitcoin when I know it is going to grow exponentially in value ?
#askNostr
Wouldn't I use dollars to buy food ? Cuz I know for sure currency is designed to lose value .. 2 percent inflation is a mandate though actual inflation is anywhere from 10 to 90 percent ..
Rationale People will spend #bitcoin only if they know 1) it is going to lose value and 2) there is no tax on spending bitcoin ..
Both these conditions don't exist and are not likely in near future ..
Besides "store of value " is much larger TAM ..
Many would ask why you’d own fiat? Stack, spend, replace is the common answer.
No one stacks fiat .. we convert it to consumables or assets at the very first opportunity.. that is the reason fiat creates open market .. cuz it forces you to choose a product , service or an asset !
So if someone immediately converts it all to an asset (as many bitcoiners do) then you’ve answered the question of why you’d spend bitcoin on groceries. More than one way to skin a cat, and everyone I’ve known who goes that route seems to stay on that path.
Umm ..good point .. but no one converts all fiat to bitcoin.. people still buy bread :-)
Besides , assets are many .. some like gold ..some stock ..some yatch !
Fiat , being a spending incentive , drives people to a free market .. with choice of consumables and multitude of assets ..
Spending bitcoin is a tax event !
