Oddbean new post about login | logout I've always wanted to go to Porcfest. Of the vendors that accepted a variety of payments, would most accept bitcoin there? Were there a lot of vendors that would accept many payment methods but would not accept bitcoin? I've been curious how bitcoin is viewed by the vendors there.
BTC is not popular there, and no one I saw accepted lightning payments. Lots of bcash, monero, and the NH Goldback. Silver dimes worked, and that's what I used. They've always been my favorite way to buy things at PF.
I'm not shocked by that. FTL runs ads for Dash and I think a lot of folks went with Bcash after the split. I'll probably take shit on Nostr for this, but I do like goldbacks and silver, but it is a bummer that there was no lightning use there. I have my issues with lightning, but when it works, it works great. I'll keep that in mind if/when I get to go someday.
Don't get me wrong, goldbacks are beautiful. But they cost nearly twice their melt value. They're very convoluted. Just use silver dimes and quarters, like we were doing at PFs 10+ years ago. 😂
That's definitely one of their drawbacks. People seem to dismiss that criticism and say it doesn't reflect the spot price because its the value of usable gold, but I dunno about that one, seems like a stretch. The thing I like about them is, so far anyways, its probably hard to counterfeit them. If you hand me a silver coin or a goldback, I'm much more confident in my ability to look at the goldback and know its real. That's probably due to my inexperience with silver coins for what its worth.