I think it also depends on the person. For me, I got interested in bitcoin because tech interests me. Once I went down the rabbit hole, the failures of the fist system became apparent.

For others who aren't interested in the technical side, they might need a different door to enter through such as realizing the drawbacks of the fiat system and going down that rabbit hole to discover bitcoin.

Many paths exist between these two points and thus you are correct that giving people options allows them to find their own path to bitcoin adoption.

Great insight. That got you a follow!

The three functions of money are:

1. A medium of exchange

2. A store of value

3. A unit of account

It can't be argued that bitcoin doesn't fulfill roles 1 & 2. Although bitcoin did serves as a unit of account in the early days, it is arguable that it doesn't do so currently. This is a matter of perspective though and dependent on societal level influences. This could be remedied with time.

What people miss is that fiat only serves functions 1 & 3. It is not a logical position to state that fiat serves as a store of value once you understand fiat.

This brings me to this question. Is the best way to increase bitcoin adoption to educate people on bitcoin, or instead educate them on the losses that are hidden from their sight but are real in the fiat system?

The latter would require them to first realize they need a way out of fiat losses and then search and hopefully find the answer that is bitcoin.

Although this may take more time, it may ultimately be a more productive path.

Old article by Pomp but we'll worth the read.

"If you denominate your assets in a store of value that is constantly being devalued, everything you own will appear to be increasing in price."

https://open.substack.com/pub/pomp/p/your-portfolio-gains-arent-what-you?utm_source=direct&utm_campaign=post&utm_medium=web

Bitcoin is a bank. Your wallet holds your bank account numbers for access to your funds. The bitcoin bank will never rehypothicate your funds, make a bad investment and loose your funds, and there can be no "run" on the bitcoin bank. You're money is there and will be as long as you want it there.

It is the answer that traditional banking system customers are looking for.

#fiat punishes the ant and rewards the grasshopper through theft.

#Bitcoin    rewards the ant and punishes the grasshopper; both justly so.

Will be listening tomorrow. Thanks!

Bitcoin is the codification of property rights into an unchangeable law. Bitcoin is the Constitution come to fruition (at least partially), then distributed to the whole world!

Sorry, I got myself a little worked up at the end there... ignore the last paragraph. Been a long week brother!

It's not taxes of crypto vs fiat. It's capital gains vs income. And paying a tax professional who will go through all the crypto transactions as the government requires at this point. It's not as simple as a P&L. This costs money, extra money in a time where although there is much printing of it, seems to be little to go around. Also thinking of keeping my business off the radar of the government. Any mistakes in business accounting (btc just adds another vector for me) could be catastrophic. I'm not running a million dollar Corp or a store front. It's a small service business that doesn't have the capital for making sure all these boxes get check when introducing a new form vector for mistakes.

This will likely become easier in the years to come, as have most aspects of the ecosystem, but we aren't there yet. Holding BTC in my business is not the same as having btc in my cold storage for personal use.

You risk nothing by using bitcoin to by goods and services. I risk putting food on the table for my child by accepting it. Also, if your rebuttal is you run a business and accept it, great, we're not all in a situation where it is as practical.

I want Bitcoin to succeed too. I stack sats just like the next guy. And at some point I hope to accept it in my business. But it's not there yet for me.

If your asking for points to hit. I gave you two. I would only add that if this is your pitch, you've got a long way to go.

Sorry, let me clarify. These are reasons I don't accept bitcoin.

As a business owner, my Two biggest reasons are

1. Few if any customers have bitcoin.

2. Tax implications.

This is how I want to drink my coffee from here on out.

Amen sir!

Question for nostr.

When creating a multisig, I believe the multisig wallet generates a new PRIVATE key from the public keys of the connected wallets. Is this correct.

And more importantly, how does one recover a multisig address? Does it create a new 12 or 24 word key phrase or does it provide some other way of recovery?

Going to listen tomorrow morning!

No bank is "safe." None of them have your money. The only thing keeping the banks afloat is that we aren't asking for our money together. No bank is above a run!

Burnie Madoff and SBF are not the biggest ponzi operators in history. The banking system itself is!!!

Listening now!

A.I. generated! Please steal and use as you see fit.