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21seasons
2w ago
I think you got it wrong. Selling your bitcoin doesn't drive the demand, exactly the opposite.
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npub1x9q89
@npub1x9q89
2w ago
No, you got it wrong. Spending (not just selling) Bitcoin increases demand for it as money. Like any other good, money follows supply and demand dynamics. When people are willing to spend sats for goods and services, merchants become more inclined to accept Bitcoin, further driving demand alongside savers and buyers. This growing demand strengthens Bitcoin’s monetary premium, which in turn increases its purchasing power over time. Number goes up.
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21seasons
@21seasons
2w ago
Spending == selling.
If you spend your coins it just means than someone else will hold those coins.
Accepting bitcoin is good for the merchant and there will be time when merchant will not accept fiat anymore and you can't buy good/service you want unless you're willing to spend bitcoin, but that time isn't here yet (except for in some places) and best way to support bitcoin is by holding it yourself.
Bitcoin first need to prove to be store of value, then it can move slowly towards being medium of exchange.
If you spend your coins it just means than someone else will hold those coins.
Accepting bitcoin is good for the merchant and there will be time when merchant will not accept fiat anymore and you can't buy good/service you want unless you're willing to spend bitcoin, but that time isn't here yet (except for in some places) and best way to support bitcoin is by holding it yourself.
Bitcoin first need to prove to be store of value, then it can move slowly towards being medium of exchange.
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npub1x9q89
@npub1x9q89
2w ago
Selling Bitcoin means converting it into fiat - you’re cashing out and stepping back into the traditional financial system. Spending Bitcoin, on the other hand, means using it directly for goods and services, keeping it within the Bitcoin economy. When you sell, you’re essentially saying, “I don’t want Bitcoin, give me fiat instead.” But when you spend, you’re treating Bitcoin as real money, transferring value without relying on middlemen. This strengthens adoption, keeps Bitcoin in circulation, and moves us closer to a world where fiat isn’t necessary.
Every time you choose to spend instead of sell, you’re helping Bitcoin grow - not just as an asset, but as a true currency. This increase in economic density strengthens the properties that make a common good a medium of exchange. You need the monetary demand to increase adoption, otherwise you end up with a subpar store of value.
Every time you choose to spend instead of sell, you’re helping Bitcoin grow - not just as an asset, but as a true currency. This increase in economic density strengthens the properties that make a common good a medium of exchange. You need the monetary demand to increase adoption, otherwise you end up with a subpar store of value.
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21seasons
@21seasons
2w ago
Selling bitcoin means you're converting it to something else, it might be fiat or it might be some product or service. But in any case you're giving away your coins to someone else.
Every time you choose not to hodl you're not helping Bitcoin grow, exactly the opposite.
If you give you're selling your coins to some merchant, they're more likely to trade their coins for fiat in this economic order to pay taxes, raw material etc.
To be more precise, I'm not against spending bitcoin, I spend bitcoin whenever it's more convenient or faster than fiat would be, or when merchants offer premium when paying with bitcoin. I just want to say that if you want to help bitcoin growth, the best way to do it is just hodl and not selling your coins either against fiat or anything else.
Every time you choose not to hodl you're not helping Bitcoin grow, exactly the opposite.
If you give you're selling your coins to some merchant, they're more likely to trade their coins for fiat in this economic order to pay taxes, raw material etc.
To be more precise, I'm not against spending bitcoin, I spend bitcoin whenever it's more convenient or faster than fiat would be, or when merchants offer premium when paying with bitcoin. I just want to say that if you want to help bitcoin growth, the best way to do it is just hodl and not selling your coins either against fiat or anything else.
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npub1x5tpj
@npub1x5tpj
1w ago
Testing zaps on this note… we made six attempts to⚡zap this note, at 21s@minibits.cash, over a period of 32 minutes. All six attempts were successful. Please check on your end to be sure you received. Average zap time was 5587ms (5.6 seconds). We consider this zap time slow... generally, zaps should complete in under two seconds. (Other Nostr users might think your zaps are broken, might not zap you again.) We recommend you receive zaps with a well-connected, cloud-based Lightning node to reduce your latency.
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npub1x9q89
@npub1x9q89
2w ago
Your economic illiteracy couldn’t be more clear - you point out the obvious while ignoring the finer details. Selling Bitcoin for dollars is not the same as selling it for goods and services. The former strengthens the dollar and its competition as a medium of exchange, while the latter creates new incentives to acquire more Bitcoin, both for yourself and the merchant.
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