people will spend bitcoin more over time
businesses that make bitcoin standard living easier accelerate the process
not concerned but also accelerate
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is lighting network really a solution? if tech is really deflationary, then shouldnβt tx fees trend to zero?
No, they shouldn't. Global and macro daily goods trend to zero. Plenty of individual charges, fees, and truly scarce assets can go up in price. That's the markets at work.
@Jeff Booth thoughts?
No, because fees are the cost of block space. And block space is limited, which is what ensures bitcoin's decentralisation. That's why you see shitcoins with near 0 fees, because they're not secure or decentralised.
Our online store that ONLY accepts bitcoin and crypto - and to date we have sold ZERO t-shirts in $BTC
Maybe it's because you call it a "crypto-only" store? Bitcoiners would probably be more inclined to use your store if it was bitcoin only. Crypto is just a distraction.
Gradually then suddenly
Need this.
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No caps @ODELL is the reason we're slowing down π
I will spend bitcoin when places where I want to spend it (IN MY COUNTRY) accept it.
WHERE'S ALL-CAPS ODELL!?
Living & breathing the network with all aspects of my life already π§‘π€πΌ
Our bitcoin only #coffee shop is ready for the #coffeechain acceleration π«
Satoshi Coffee Co.
Welcome to Satoshi Coffee Co. - Our Roast is the Proof of Work
You CAN buy coffee with bitcoin now at Satoshi Coffee Co! Use Lightning (or on-chain) to purchase our delicious freshly-roasted coffee.
Hi ODELL π€ππ΄ββ οΈ Exactly. As more businesses embrace the Bitcoin standard, spending will become more natural and seamless. The key is the infrastructure once the ease of use and convenience match the value of holding Bitcoin, the floodgates will open. Itβs not just about holding; itβs about building a world where spending it feels as easy and intuitive as using fiat. The process will accelerate faster than we think as adoption spreads and more solutions emerge.
Greshams Law
Greshams Law
The βBitcoin Lawβ: Any good or service must be of sufficient quality and necessity to be transacted in Bitcoin.
The sellers must move first
The producers the sellers the business owners must start the domino effect
Once they demand bitcoin it will change
As long as they accept fiat
People will be incentived to spend their fiat and not their bitcoin
Goods and services will need to improve significantly for that to happen. What I am giving has value over time, and what I will receive in return should have it as well. Consumerism does not go hand in hand with Bitcoin