Replies (11)

From a business perspective it makes the most sense to take as many forms of payment to make it easier on the consumer.
I accept bitcoin because it’s real money. I accept bitcoin because it’s better money. More than that, I accept bitcoin because it exists outside the financial system - a system that extracts my time and value. As someone who runs a business, I want my hard work rewarded by the hardest money available. Hard work deserves the hardest money. It’s a simple equation. Every business decides for itself what it’s willing to accept as payment. Personally, I’ve started taking Monero too. After a few Monero bros reached out, interested in my products, I listened, learned, and decided to meet them where they are. Being open to other options just makes sense. It’s also important to recognize that some bitcoiners take things further than others. They run their own nodes, validate transactions, acquire non-KYC bitcoin, and actually use their bitcoin to meet day-to-day fiat expenses. That’s where I’m at, because it works for me. Not everyone will get there, but it’s something worth pursuing. Recently, a local farmers market vendor who makes sourdough bread asked if they could sell my butter under their brand after I told them what I produce. It’s an ideal partnership: I focus solely on making quality butter, and they handle the market and customer side - which I never wanted to do anyway. They tasted the butter and loved it; now, they’re excited to move forward. They’ll pay me in fiat, and that’s perfectly fine. I’ll either reinvest it into the business or swap it for more bitcoin. At the end of the day, bitcoin remains my preferred payment method. On every front - practical, moral, and ethical - it aligns with what I believe in. I truly think it’s a system worth supporting and fighting for. I’m doing the proof of work, and that decision has paid off. In the end, you’re free to do whatever you want with your money. That’s the beauty of it.
I'm not sure where to stand on this. My first instinct is to go to the defense of the fiat acceptoors. I think a viable business that accepts both fiat and Bitcoin is better than a failed business who only accept bitcoin. I think a sound product for fiat is better than garbage for bitcoin. I do also believe that forcing someone to pay in bitcoin is the way to hyperbitcoinization, but is it idealistic to expect everyone to be capable of doing this? Personally I'm working with a high margin product many people consider Art. I think it's easier for me to make it happen. I knew it was possible for me to make it work because of this. "Why would you accept money they can print out of thin air?" Well the reality is that, at the end of the day, there is no great difference in getting paid 15$ worth of Bitcoin or 15$ in fiat. Fiat is worthless in theory but you can buy anything with it. I'm very proud to have built a fiatless brand that works. It's beautiful. But I'm not necessarily expecting others to do it too.
Excellent feedback. Agree with both that “a viable business that accepts both fiat and Bitcoin is better than a failed business who only accept bitcoin.” And “forcing someone to pay in bitcoin is the way to hyperbitcoinization.” So that’s a choice we all have to make for ourselves if it’s worth it. I do feel like though *if* you can make the business work 100% on Bitcoin, why *not* do it? Not everyone can, and that’s ok but if you can, why not? If I’m building a new business today for the future, start out right from the beginning on a Bitcoin standard and never look back. Build a business by and for bitcoiners and everything else will fall into place. They are the best patrons, the best people to work for and with. I’ve had many different fiat jobs and businesses but nothing beats building for bitcoiners and participating in the Bitcoin economy.
If you can make it work Bitcoin only, you have the *certitude* that your business model is sustainable within the Bitcoin economy. It's an incredible market signal. Probably the most solid foundation.
My one caveat is that you're never "forcing" someone to pay with Bitcoin because they can always just not be your customer. The other point not addressed is the need to sell Bitcoin back into fiat to pay expenses. If you're doing that and shitting on someone for accepting fiat, I don't think you have much ground to stand on. We all agree on 99% of this so I'm just saying that to hit on nuance. My goal is to be a successful business that is Bitcoin only. I can't do that right now and my % paid in Bitcoin is roughly equivalent to my profit so HODLing that works out about the same as only accepting Bitcoin and selling it to pay fiat expenses. I have alcohol license complexities that realistically force me into a fiat compliance regime. Jealous of you guys having less/different regulation. Enough about me tho. One final point. Bitcoin only is the end goal obvs. Small businesses and high quality producers are the first who will be able to make that work. Along the road to that there are many businesses who foster the end goal of a hyperbitcoinized economy, by meeting people where they are at and familiarizing them with paying in Bitcoin but not forcing them. Ultimately getting people familiar with spending Bitcoin and associating good money with good products go further towards bringing us to a bright orange economy than just being puritanical about the one way you have to do it. Again, Bitcoin only is my goal and I have a ton of respect for those of you who are making a successful business doing that. Bad ass. Aspirational stuff
How about from the opposite perspective? If you are making a top quality product and honestly *can’t* make ends meet with bitcoiners as your only customers, that’s seems pretty bearish for Bitcoin adoption in general.
Bearish implies you're forward looking. That's more of a state of the market in the moment Which product is important in that example as some are more niche than others and we're assuming you're not just bad at business as well
SoapMiner's avatar
SoapMiner 4 months ago
Sure. I don't really care for labels, but for lack of a better definition, I am an AnCap. I believe in AnarchoCapitalism. I spend my energy, and time creating, and making a real, quality product. I want real, quality money in exchange for the value I provide. While using Bitcoin on a day to day basis can be challenging at first, it is achievable. Just keep learning. You'll get it. If you really believe it, then why don't you live it?