TheGuySwann on Nostr: This is the only way “medium of exchange” happens, btw. It’s when liquidity is ...
This is the only way “medium of exchange” happens, btw.
It’s when liquidity is great enough and merchants demand it. Thats it. You can’t force it or fake it. It has to be widely desirable enough for merchants to prioritize it.
This is why it happens after it becomes widely used to save and protect wealth. Medium of exchange comes very naturally from the fact that everyone is acquiring it.
Paying for things in Bitcoin has obvious benefits. But spending is spending and Bitcoin is just slightly more convenient and you can hodl it yourself. The real benefit is for merchants. I find myself wanting refunds in Bitcoin quite often because as a receiver the benefits WILDLY exceed fiat. I cannot understand why on earth there are not more merchants accepting Bitcoin. Final settlement, no third party to deal with, no charge back, no fee to a middleman, just a small tx fee, it costs nothing to start accepting it and you can opt in whenever you want.
Published at
2025-04-14 01:34:59Event JSON
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