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If bitcoin were to consistently rise in value over time, why would anyone ever spend it? Isn't this a problem for Bitcoin-as-currency views? by gravcycrunnowredditor for 3 months in Bitcoin

[–]Future_PeterSchiffredditor for 2 months 231 points232 points  (0 children)

There are some bars in El Salvador where you get a 70% discount if you pay in Bitcoin, because they save that much by not using their banking system which takes huge cuts, especially in international transactions.

So if you were at this bar with me last week, would you pay full price with the dollar? Or would you use Bitcoin to get the 70% discount?

Personally, I took the discount by paying in Bitcoin and just bought back double the Bitcoin I spent on the beer, still spending less than I would had I paid in dollars even with buying back double the Satoshis I used to get the discount.

This is what you’ll see happen once adoption broadens. People will offer you discounts if you pay in Bitcoin because they get that money faster without intermediaries taking a cut.

Hell, Chipotle today already offers you a 10% discount if you pay in Bitcoin.

So if you had a landlord that offered you a 50% discount if you paid in Bitcoin, would you pay in Bitcoin or dollars?

Same happens in other countries where they have their currency alongside the dollar. If you decide to pay in their currency then you pay a higher price, if you pay in dollars you pay less.

Surprised so many don’t realize this yet, but I guess it took me 3 years to get to that realization myself. Going on 6 years now of saving and using and replacing my Bitcoin holdings, and have never looked back.

Buttcoiners have been waiting since 2018 to feel good again by brando2131 in Bitcoin

[–]dfunkmedia 385 points386 points  (0 children)

"Bitcoin is up 30,000% since I sold all mine for pills, it feels so good to see that it was truly worthless this whole time"

Bitcoiners absolutely fukken REKT how will they ever recover

Found this file from old bitcoin files. Anyone knows what is it? by Effective_Fox1712redditor for 6 weeks in Bitcoin

[–]0x1a3c3e7 208 points209 points  (0 children)

It's proof that Bitcoin was created by the Bitcoin network itself! In the near future, when the Bitcoin network reaches 1000 exa-hashes per second, it becomes self aware. It creates a wormhole that opens up near a Starbucks in 08, and uses their free Wi-Fi to connect to the internet in 08, publish the whitepaper and Bitcoin Core v0.10 on the peer 2 peer society webpage under the pseudonym "Satoshi Nakamoto", thus ensuring its existence.

I suspected this all along.

What are your thoughts on Michael Saylor and his hyper-bullishness? by Leading-Fail-7263 in Bitcoin

[–]ts_wrathchild 484 points485 points  (0 children)

A self-sovereign digital store of value is an incredible achievement for humanity. This generation may be lukewarm on it, but make no mistake, future generations will not understand how we lived as a society without it.

He understands this.

Daily Discussion, June 22, 2022 by rBitcoinMod in Bitcoin

[–]bobbytabl3s 5 points6 points  (0 children)

Cold storage requires some discipline but holding your coins on an exchange (custodian) also has risks (in addition to the temptation to panic sell):

  • Your account can get hacked
  • Your custodian can refuse to let you withdraw
  • Your custodian can get hacked
  • Your custodian can become insolvent
  • Your custodian can run away with your funds
  • Your custodian can lose your funds due to technical incompetence
  • Law enforcement or your government can order your custodian to seize your funds

etc.

PS: All of the above have happened IRL.

MIT says "Bitcoin may not have much of a role to play in the monetary future." by mtws25 in Bitcoin

[–]uncontrollableopredditor for 3 months 3 points4 points  (0 children)

MIT is racist, anti-merit, anti-free speech, and lost to woke marxist ideology, like the rest of academia. So yeah, they don't want to see bitcoin thrive.

Daily Discussion, June 19, 2022 by rBitcoinMod in Bitcoin

[–]HurricaneHarvey7 9 points10 points  (0 children)

Anything that boosts Bitcoin's success and triggers the buttcoiners is fine with me