"Accept Bitcoin," they said

>"Accept Bitcoin," they said.
>"People are spending it," they said.
>Meanwhile, next to no one spends it.
MFW.

people do spend it, they just regret it afterwards.
if bitcoin truly is a deflationary asset then it is not something to be spent.

liftmode (a supplement site) accepts btc and ltc. if i had paid using crypto a couple months ago, i would be pissed now.

the neat thing about fiat is that it doesn't drop or pop in value that much. little to no volatility on a monthly basis, up until we finally hit the hyperinflation state.

fiat has already lost a lot of value on the timescale of years though.

>fiat has already lost a lot of value on the timescale of years though.
Over about 100 years. That's not volatile enough to worry about.

>to worry about.
It is when you realise that its engineered purposely by central bankers to extract real wealth from the working class.

I imagine in the future people will hold some crypto that is mildly inflationary, for daily spending and keep savings in deflationary like BTC

>to extract real wealth from the working class.
Over 100 years? That's a long conspiracy!

It doensn’t matter if you buy something with USD or BTC, the opportunity cost is the same. If you buy a coffee with $2 and BTC moons you’re still effectively losing money because it could have been spent on BTC. You’re basically losing a ton of potential money any time you buy something that isn’t an investment.

>It doensn’t matter if you buy something with USD or BTC, the opportunity cost is the same.
That doesn't explain why people aren't spending their BTC.

The dollar has lost 98% of its purchasing power over the last 100 years. Meaning the bankers have stolen .98 cents for every dollar in your pocket. So yeah, that's the kind of time you'd spend if you could get away with it.

.98 cents *from every dollar in your pocket

this is true if you are buying unnecessary shit that isn't necessary for survival. so if i spend $13 at the movie theater watching some kikestory, then yes that is opportunity cost due to the fact i could've bought put that towards an investment like btc.

however, we also have to pay living expenses so you can't say ALL purchases incur opportunity cost. still gotta buy food to eat, which is necessary. if i kept 100% of my funds in investments how would i live.

a very fickle point to make but i think you get the point.

some purchases aren't necessary but can yield benefits above and beyond what could've been gained from that same amount spent on crypto.

wrong. fiat has lost value on the span of just 5-10 years, not 100 yrs. so think in terms of decades not centuries.

$1000 was worth a lot more 20-30 years ago than it is now. can't really say $1000 was worth more 10 years ago, because 10 years ago we were still in a similar inflationary cycle.

because its not meant to be spent, because when people buy it they intend to hold it for higher gains, not to spend it. and most who buy btc now have already heard the horror stories of idiots buying pizza, beer and drugs with btc long ago and missing out on big gains.

what? if the money they've "stolen" from you is also worth 2% of what it once was, they also lost 98%...

>because its not meant to be spent, because when people buy it they intend to hold it for higher gains, not to spend it.
There is something wrong with this market, then. Why are most of the merchant solutions based on Bitcoin if, at best, other coins are being used for purchases?

>just 5-10 years, not 100 yrs
Wrong.

They're also forgetting that our GDP was $50 Billion back then.

You realise that bitcoin might not have succeeded if it weren't for those "Idiots" actually using it and exchanging it with each other, don't you?

If every initial miner just sat on their stack waiting for "gains" it never would have gone anywhere.

Oh and PS we had a really good time on those drugs.

>they also lost 98%
They give themselves pay rises that match inflation and million dollar bonuses though

Kek.

This.

Usd is down 9% this year.

Who would have guessed that the power of hipsters and zone dweebies put together would be so dynamic.

But in the end every fad dies.

Little do they realize that the banksters are doing exactly the same thing as the shitcoins on a much grander scale. You shitcoins are gonna throw a fit when all the money is soaked up on the low and the budgets get fixed sending the dollar upwards permanently.