Gigi's avatar
Gigi dergigi.com 1 year ago
"A rising number of bitcoiners are all in, forcing them to spend some of their bitcoin. If 100% of your inflow is in bitcoin (or: no inflow, 100% BTC balance), you will have to spend sats on food, shelter, and other necessities. No matter how much you don't want to." —Block 649,120 (2020-09-19) image
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Flows - A thread on inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in Bitcoin. | dergigi.com
A thread on inflows, outflows, balance sheets, and how a circular orange future might resolve the points of contention in Bitcoin.
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Replies (15)

Matt's avatar
Matt matt@gitcitadel.com 1 year ago
Not wanting to is a rejection of one component of Bitcoin that is absolutely necessary for its success (medium of exchange). @Jeff Booth convinced me of this.
McCoy's avatar
McCoy McCoy@primal.net 1 year ago
Most will be stuck paid in fait for awhile. I’m lucky to be earning more than I spend. Saving in bitcoin only. When fiat stack is empty or when paid in bitcoin only, I will spend Bitcoin on food and shelter + other very high-quality items. Plan is to own BTC only or really, really good stuff.
frphank's avatar
frphank 1 year ago
Hm looks like deflation discourages spending. Funny how you want to get a currency started by discouraging spending.
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npub14vsk...9v6x 1 year ago
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Jonathan 1 year ago
Been 100% since 2021 so feels normal now. (Even though I have to trade to fiat when spending) Fiat maxis would love to spread the message "never spend your bitcoin" cause then they can trade dollar shitcoins on top of it forever. Only way to kill Fiat is to adopt medium of exchange. It really makes you think about your spending before you do it and I like that.
TythePhoneGuy's avatar
TythePhoneGuy 1 year ago
The mindset of "never sell bitcoin" would also mean to discourage against and never ZAP someone on NOSTR. HODLing is great, but if we're not using bitcoin, what's the purpose?
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