npub19v822

1w ago

HODLing is just stagnant wealth. Change my mind.

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Do you have thoughts?

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npub1dxeg0

@npub1dxeg0

1w ago

I agree! We will sooner or later need to start moving that HODL mass thru the economy. Would just like to see it passing between the people (Bitcoiners), not thru Wall Street.

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npub19v822

@npub19v822

1w ago

Lots of controversy in the community about privacy being the reason for HODLing. I think that reporting my bitcoin on my taxes and having the freedom to trade transparently is a more profitable strategy than holding on to bitcoin that I may have acquired illegally to pass on to someone else. I get it, People holding coins from the beginning were breaking laws left and right, But without increasing my stack over time I am just as stuck as someone on a fixed income. The dream of the original bitcoiners was to abolish central banking, And the reality is that bitcoin is another layer in central banking. I move bitcoin occasionally but I spend dollars every day. I am pretty sure I could find a business that would accept payments in Roman Aureus. Fiat will become less relevant, But it will never go away completely.

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npub1dxeg0

@npub1dxeg0

1w ago

I’ve talked to couple local small businesses recently in my neighborhood. Mostly Pubs, and restaurants. Some won’t take a credit card any longer, and some are adding 3.5% on to the bill to take the credit card. There margins are too tight to take the hit the credit card companies are charging them. On top of that, some have to wait between 30 and 60 days to be paid by the credit card company. Creates cash flow problems. If you tip on the credit card, the staff has to take it on their paycheck. They wait for that too. They also suffer income tax on those tips. Credit cards are real convenient. That’s why we use them to buy stuff. Watch out however, if you do not pay them off right away. Get yourself in loads of bad debt if not handled responsibly.
OK then, back to cash. Dirty

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npub19v822

@npub19v822

1w ago

The trouble with the Lightning network is that it becomes an expense. Maintaining channels is laborious, And force closes are an issue when you have channels open for more than a few days. I really feel Bitcoin has a role as an asset more than a means of transaction. The consumer mentality around instant payments works only for people who are not doing formal business with each other, Just casually spending. If I care enough a 1 hour confirmation process between myself and someone I am involved with financially is not a big ask. It’s when I don’t care that I want instant payments, And I try not to use bitcoin for things I don’t care about. Maybe a few wallets maintaining these channels becomes the lightning network, Asinq is the largest and Phoenix wallet is their product. I have always used Muun and had good functionality. I would only

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npub1dxeg0

@npub1dxeg0

1w ago

Running an umbrella lightning channel with 4 or 5 connections for 3 or 4 years now. Never a problem.

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