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Radical bitcoin fundamentalist. 🌩

Provided your nsec is not transmitted by a nostr client and all message signing is client-side, the private key should be safe. The operative word, of course, is should.

Yes, X has been throwing errors all morning for me as well.

A merchant could price the product at the fiat price of the product. Example, a bag of potatoes is priced at $5.99 in fiat at the grocery store, so simply convert the satoshi price to its equivalent. Only adjust the satoshi price when the grocer adjusts the fiat price such as before or after a sale discount that week. No need for constant price fluctuations by the minute.

How will Bitcoin scale as a medium of exchange?

If it’s so good, won’t everyone just save it and spend their dollars instead? That’s the classic argument.

This is absolutely happening and will continue for a while. That view only sees one side of the transaction: the consumer.

At the beginning, just as only the most committed Bitcoiners will spend it, only the best businesses will be able to demand Bitcoin. As those two ends of the spectrum grow, people who want to spend dollars and save Bitcoin will start to run out of options. Especially for quality goods.

This transition starts with shop owners upcharging for fiat. At first, it will look like today’s cash vs credit pricing, simply covering card fees. As Bitcoin becomes more obvious, that spread will grow.

Adoption will take time. Not every producer will switch quickly. The ones who do will outcompete. They will escape margin decay from fiat debasement. They will not need to cut corners. Good money chases quality goods, and these businesses will be positioned to thrive.

High-quality producers steer the next marginal transaction. Over time, they will steer it toward Bitcoin.

If a business wants to earn the hardest money, they will have to produce a top-quality good. Just like if a consumer wants a top-quality good, they will increasingly have to pay with Bitcoin.

Orange pilling the world begins at the margins.

There are two sides to every transaction. The margins are on both ends.

If I want to buy something and satoshi payment is an option, I will sometimes choose it. However, when satoshi payment is the only option, I have only the choice of buy or not buy much as the way it is in the fiat system. In both scenarios, if I decide to make a purchase, I buy fresh satoshis deposited directly into my Lightning Network wallet to then be spent. I won't touch my long-term satoshis as long as fiat exists to fund my short-term satoshi holdings.

I'd prefer a time when it costs only 10% of today's living costs to cover all of the necessities of life in modern society. The other 90% could be put anymore non-inflationary savings or investments, with a portion of that used to spend apart from the necessities of life.