Controversial opinion:

Some celebrate low fees, I tend to be more worried although hopeful.

People need to spend and people do not want to spend bitcoin, this obvious for anyone looking at bitcoin. The potential upside is too big. I support spending it but I get why others won't.

We live in a fiat world so most people want to spend fiat save bitcoin.

The switch to bitcoin won't happen overnight as some think it will, it might happen in some banana republic who will of the sudden print their money into Infinity but for most of the world no. It will happen but more slowly.

So we have this issue the chicken and the egg problem. We want bitcoin to be a moe but those who accept it do not get many customers (in general)

So what I think the path forward is and it is controversial is some sort of stablecoin or other way of stabilizing bitcoin payments.

This will encourage more spending while they have their stack for long term payments.

We also need all major fintech apps, cashapp, Venmo, Revolut etc to be able to accept lightning payments but the user receives fiat.

If I'm a bitcoin spender and I can't convince my friends to accept it I still want to be able to spend it, so the obvious middle ground is to use bitcoin as the Settlement tool but my friend get dollars.

Is this decentralized? No it's not. And its unfortunate. But I won't blow smoke up someone's ass. We need to meet people where they are not ask them to sit and listen for saylor for 8 hours.

Make them use bitcoin without even knowing that they are using it. And eventually when they go down the rabbit whole they find out all apps they use like cash app already accepts it and they can if they want quit fiat.

This is why @tando_me will be such a game changer. It will allow kenyans to spend bitcoin everywhere but the person receving the payment will just get local fiat.

Ok rant over. tldr is, do not bitch about users not spending, find out why they aren't and then meet them where they are.

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Discussion

I agree, I think the best thing we have now is https://www.uma.me/, so that regulated institutions can use Bitcoin and people can send bitcoins receive fiat or even Bitcoin on their banks.

UMA is implementing Nostr Wallet Connect, so people will be able to connect banks with apps and receive or pay in fiat, all using bitcoin liquidity.

yes something like that. the only flaw with uma is that institutions can limit to only other uma wallets.

some like ripio haven't, but some like xapo have. the question is what will nubank do now that they announced they will adopt uma.

oh and btw where did you hear about nostr wallet connect and uma? didn't hear they will integrate it

On their github. I will find the link and post here.

awesome!

So the people that don't know about bitcoin but has bank account with UMA, could connect to apps using NWC and use their fiat money to value4value payments.

yes that will be awesome

Probably the legislators will, in the near future, require that withdraws be possible only to other UMA address, because the KYC. But you know, government will always try to control and we are still free to use bitcoin out of regulated banks or institutions. Because this, I think we need to make layers 2, Drivechains...

But I think is good to have regulated institutions using bitcoin to help solve a problem and people using Bitcoin even without knowing about it.