jackspirko on Nostr: https://m.primal.net/POjb.gif 💩 Coin Hate = Good Stable Coin Hate = Stupid Bitcoin ...
💩 Coin Hate = Good
Stable Coin Hate = Stupid
Bitcoin adoption will be held back by volatility and tax consequences for commerce for at least another decade.
Every accounting system is based on the dollar, all inventory management is based on the dollar. The dollar is dying but so is every 70 year old person. Some in 1 year, some in 10, but some will live 30 more years.
I know this will shock many of you but the dollar could go another 50 years. Quite likely it will. Now holding it that long is beyond dumb but spending it isn't.
For the foreseeable future though, almost everything you buy or sell is going to be denominated in dollars. And anyone who's ever run a business with a supply chain, inventory and a payroll to make understands why.
Even the tiny one man, side hustle, "Bitcoin Only" businesses price in DOLLARS. No one prices their widgets at say 100,000 Sats, they use software to say X-Sats which is based on the BTC exchange rate with the dollar. So the price on their little web page changes hourly, sometimes by the minute.
Bitcoin is superior money, but the dollar is superior currency (for now) in the current reality. The fact that you and I HATE that reality doesn't alter said reality.
As stables get more accepted, so will Bitcoin. We will be moving stables over Bitcoin NETWORKS, as in networks with an S.
As we do that almost every bank in the nation will begin to function like say River or Strike. If you think that is bad for Bitcoin you are just either a total door knob. Or you are an autist bordering on full ret@rd idealist, that only wants to win, if winning means doing it 100% your way.
Borderless and permissionless means anyone can use it, integrate it and build on it. It always has, since day one. I am sorry no one explained that to you, as to what it means. But here you go, your friends will use it, your enemies will too.
Governments, companies, hackers, drug dealers, NGOs, everyone. E V E R Y O N E and in every form possible for programmable money to become or be integrated with. That IS what hyper adoption means. No amount of purist autistic maxis screaming over podcasts, youtube videos or on social media will alter that course.
What you or I want doesn't matter to what is here and what is coming next. Shrieking about what others do with a permissionless protocol is like being the idiot that gets mad at the weatherman when a storm comes.
A lot of this integration will involve stable coins. Why? Because if I convert all my revenue to BTC as it comes in, and say I had done that this month. I now do not have enough money for more inventory or to make payroll with. So now I am out of business. Oh joy!
I know it goes up too, yes and now I have a fu-king accounting nightmare due to that, and it still will not save me from a quarter like we just had. Some of you simply do not comprehend in your tiny minds how business works in this world.
But if we get to where every bank account in the country will simply let you easily sweep surplus capital into Bitcoin, well, more, a lot more companies and people will do it.
Look I don't even care if it is the best case scenario, it is what IS GOING TO HAPPEN. I advise anyone when it comes to business, money, investing, etc., operate in the world of reality not your idealism.
Love him or hate him, Michael Saylor was right years ago about what adoption looks like. Bitcoin will be money, the dollar will be currency and they will work together.
Mallers and Strike have already built the tech that does this. Services like River do it too and take it up a notch with interest on dollars held paid in BTC with the dollars covered under FDIC.
Not everyone is going to be a cypherpunk and bitcoin is for ALL. You may not like it, but accept it.