Damus
BitcoinMendocino profile picture
BitcoinMendocino
@BitcoinMendocino
Everyone in Bitcoin is telling you to hodl. Nobody is telling you to spend... 😬

Here's the problem with that: A currency nobody spends is not a currency, it's a museum exhibit.
Gold became irrelevant the moment governments convinced people to store it in vaults and accept paper instead. That's exactly what happens when an entire community builds an identity around never spending their money.

Satoshi didn't write a whitepaper about a store of value. He wrote about a peer-to-peer electronic cash system... Cash as in, you use it.

The path to mass adoption isn't a million people locking Bitcoin in cold storage and waiting to become billionaires. It's a million people buying coffee, paying rent, sending money home to their families, and replacing what they spent.

Spend and replace, that's how a currency wins.
Hodl to death is how it becomes a relic.
7
knightfall21 · 3w
Gresham's law would like a word.
Globe99 · 3w
Yes, but.... This only works with De Minimis exemption. Otherwise you're asking for people to record literally every transaction they make for tax purposes, which is both insanely complicated and dystopian.
TKay · 3w
Spend and replace
redsun · 3w
HODL doesn’t mean ā€œno spendingā€; it just means that you think twice before spending. So this whole ā€œno spendingā€ narrative is wrong, because everybody spends their Bitcoin at some point. If I already have a nostr:nprofile1qqsppdnxpjc82jlm3yn9gawhv7p4nm69a3f80rg5ycw305xned2s0hcpz3mhxue69u...