This generational wealth idea will die together with bitcoin if no one spends their on-chain bitcoin or is only holding financial products built on Bitcoin. Who shall pay the tx fees for security? Earn, spend and save (for your future or your children‘s) and learn to deal with volatility and self-custody.
Trey's avatar Trey
Strategy is trying their hardest to lose more and more Bitcoiners Perhaps @npub1qny3...95gx is very on the money here image
View quoted note →

Replies (10)

Bitcoin retail spending in the West is at the same position as Cannabis was pre-legalization. Sure you can spend it, just like sure maybe you have your "dealer", but it's functionally illegal unless you're willing to report every transaction to the IRS. Only "true believers" are willing to operate in legally grey areas, especially in the Global North with access to reasonably well-working payment methods.
With the perception of Bitcoin being a tool for speculation and investment we won’t reap in more true believers. Because the true believers are here for freedom and agency, while the others are rent seeking and waiting for others to do the work.
Primal Protocol's avatar
Primal Protocol 2 months ago
Spending bitcoin like spending energy, both require balance, just like balancing protein and fat for optimal health.
If you take 100% of your pay in bitcoin you have no option but to spend it. Platforms like Strike make it really easy as every buy and sell is condensed into two numbers at tax time.
Use Phoenix wallet or something similar…agree: earning and spending is the best way to accumulate what others try to mimic with DCA.
hbs's avatar
hbs 2 months ago
There are only two ways, hard fork ot death by a thousand missing fees