Not enough daily use amongst average people. Majority hodl for NGU. Only a handful of my customers ask to pay on chain, and that is probably due to the incentive offered to do so. Institutions adopting before the network really took off with the public for its original intended use case is no bueno.

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Not enough adoption and day to day use amongst people and merchants. NGU may continue indefinitely, but payments have regressed in BTC commerce. I've seen more companies abandon it (for payments) than adopt it in my industry.
Suβ‚Ώlime's avatar
Suβ‚Ώlime 9 months ago
Yep, is okey to #HODL but we have to use some corn also. Thats the point of money right? Hodl some and spend in goods and services that you believe in or contribute building bitcoin friendly bussineses. Thats how i see it. Money is also meant to be circulating and creat abundance
n0>1's avatar
n0>1 9 months ago
There is no time limit though. It doesn't matter when it happens. So what does it mean not enough?
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Rand 9 months ago
thIZ a slOG}processIZprogress/l'O'/\/ghaul> >> >>> >>>>
None of my suppliers accept it. Banks won't left me offramp into fiat. I'm left with being forced to hold it, which is fine for me but no good for that circular economy from a business perspective.
I think if institutional adoption accelerates there is a time limit because it will be more centralised in the hands of the few who already hold most of the worlds wealth. Maybe it's transitional, but most people I know who have some prefer not to spend it. If it continues to succeed as a SoV, that's great, but we still have a money problem to solve if so. Transactions should be increasing regularly with adoption. Instead, 15 years on we are seeing empty blocks.
db's avatar
db 9 months ago
no panic on the titanic
Hi sovereign being πŸ΄β€β˜ οΈπŸ€ŸπŸ˜‰ nice to meet you 🀝 You’re right widespread adoption of Bitcoin for everyday use is still far off. Factors like volatility, scalability, and transaction costs limit its use for daily purchases. Most people still see it as an investment rather than a currency. While institutional adoption is a good sign, true mass adoption will come when Bitcoin becomes more stable, accessible, and understood by the average person. The focus needs to be on real-world utility and education.
Suβ‚Ώlime's avatar
Suβ‚Ώlime 9 months ago
Yes, im facing the same challenge with suppliers not accepting btc, it sucks. I totally get your point. I think we can only keep building or use at least things like bitrefill, zaps or visit the few places with high adoption. Also support the few bussineses that do accept it
I had some educational articles about 7 years ago, then we started getting spammed incessantly by crypto businesses trying to guest post articles or pay for us to link back to them. I'm not likely to attempt that again lol Raising prices that much would probably have quite a detrimental effect on day to day business. It makes more sense to me to having a lower BTC price, since the outcome is the same - cheaper if you pay with sats. Once I finish building my new site I will have a better direct payment integration so maybe I will develop a different strategy. It is tiring trying to win people over.
Yeah lol, I wrote one freaking article about bitcoin on an online thingy, and it wasn't even good writing, and immediately I got solicited to write for crypto shit. But you might be able to just filter out words like "crypto" or "project" or "use case" and then never see that stuff. 20% feels right to me. I wouldn't move over a 10% discount. You could split it differently, like up 10 on fiat and down 10 on btc. Also the number of people taking the deal might be insignificant enough that it doesn't really affect the bottom line. Idk... Just speculation
The issue is I can't use that bitcoin within my business, so it sits there as an asset. If the ratio is off, that would kill liquidity because we can't spend it. I'm fine for less than 2% of transactions being unusable, but things would have to change (like supplier adoption) to make it more feasible.
Yeah that's a problem... And just orange pilling suppliers isn't the solution because they also have suppliers, do its the same. Idk. I guess you need an off-boarding solution
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