Oddbean new post about login | logout Not sure how you can say all bitcoiners have fiat on hand? The saying ‘get on zero’ means get on zero fiat, by getting 100% onto the Bitcoin standard. It’s an evolution of the saying ‘get off zero’ which encourages ppl to begin with Bitcoin by just allocating 1% to BTC. It doesn’t just apply to ppl living in Bitcoin circular economies, some searching online shows ppl posting & podcasting about it, it’s not easy, but possible. As more businesses, for e.g. your competitors, start accepting btc over time, they’re more likely to attract bitcoiners compared to businesses that don’t. Peter schiff was saying things like past performance…. And Bitcoin is tulip mania…as far back as 2011 or 2012. He was very articulate about how the price will crash soon etc etc. 12-13 years & 2-3 million percent later we’re still all waiting on his call to ring true
I know it's "possible". It's also possible for me to wear a car tire around my neck. But how do I benefit. If my competitors start accepting Bitcoin to the point I'm losing business I'll hop onto the bandwagon. But don't forget a business competes on the products and services offered first and only payment convenience second.
The wide range of benefits from Bitcoin are pretty clear at this point. Safe to say a little more than wearing a car tire around your neck 🤔 Perhaps you’ll be jumping on the bandwagon to accept btc payments when BTC in USD denominated terms is $0.1M per coin, $0.25M, $1M? Fiat printing has no ceiling, there’s no limit to how much your fiat savings iceberg can melt in purchasing power. Bitcoin is just the best expression of that fact. History has shown the earlier you adopt it the more you benefit. Every person gets Bitcoin at the price they deserve
Like I said, I first worry about running a business at break-even savings comes later.
The world’s a big place, you do you. Some businesses are 30 years old sitting on millions, someone just registered a business yesterday. Bitcoin is here today and will be there tomorrow as an apex predator in the world of savings for whoever is ready.
As for the exchange rate of Bitcoin vs. fiat, 0.1M or 1Mz why would I care of my business is Bitcoin in, Bitcoin out?
Despite the current stage we’re at in regards to the USD’s state of decay as a global reserve currency, it still remains the widely accept global UoA in most domains. If the lifecycles of previous global reserve currencies, like the pound, livre, guilder etc etc, is any indication, USD should be nearing the end of its reign. So while goods & services remain denominated in USD, those who obtain BTC earlier and can manage to hold onto it longer, win.
As for "get on zero", it's nice you have a saying but you also have fiat.
Can you say that for every single bitcoiner on the planet today? No, of course not. The trajectory has been pretty clear for some years now, more are joining the ‘get on zero club’ while less and less are remaining part of the ‘fiat only and no btc club’ The waters warm, you may as well swim, it’s better than drowning in fiats poison pool