When you consider what they are losing in fiat land it makes more sense to ask how they can afford not to go to a LN node.
40 hour week. Lots of small businesses are paying 10% in CC fees. Let's ignore inflation losses. I don't spend 4 hours a week on my LN node but they are spending 4 hours a week working for visa.
4 hours a week really hurts with small business margins.
Thats true
but you also have to factor in educational hurdles
and probably time spent converting back to fiat to pay expenses
farmers often have a completely different skill set than VPN providers, for example
Most are hodling from what I've been told. We have multiple revenue streams and live below our means. Inbound Bitcoin is savings. Inbound fiat goes to fiat bills and buys some more Bitcoin.
Not a problem until Bitcoin revenue is a bigger % of revenue than the % that goes to buying Bitcoin anyway. We'll just switch to living on Bitcoin fully at that point.
yeah...
"independent businesses will hodl until Bitcoin standard" is hopium
personally its what my business does..
and we mostly succeed in not even being in a position to sell BTC. we have extremely low expenses.
but my rancher cant do that for example.
its not a viable strategy at scale.
thanks for the conversation tho
The question is, is % bitcoin revenue > % savings. It has nothing to do with field of the business or the size of the numbers or profit %.
Unless businesses are in the Bitcoin field or are very deliberate and selective about customers the % Bitcoin sales is usually very low.
well then youve identified a second bootstrapping problem
why would a business invest in its own infrastructure for a payment method with is hardly used?
also it isnt strictly correct to say it has nothing to do with the type of business.
obviously someone who decides to start a VPS provider is better situated to run their own LN infrastructure than a farmer.
and it certainly does also depend on how profitable the business is.
a business with good margins wont need to sell their Bitcoin, even if it makes of a larger % of their total gross
than a business that has razor margins and always needs their assets liquid.
