frphank on Nostr: Absolutely correct. No Bitcoin company is viable and never will be. As for pegging ...
Absolutely correct.
No Bitcoin company is viable and never will be.
As for pegging the Bitcoin price to a dollar value, you don't have a reliable income stream in Bitcoin then. A Bitcoin company is only a Bitcoin company if it earns in Bitcoin and holds it to pay suppliers in Bitcoin later.
Pay and be paid, money goes in circles. However as a business you need to have a somewhat reliable, predictable income stream. If the electricity bill is due in 3 months will you have earned enough to pay it? Like that. You don't have to be a "business", every regular employed Joe has to plan like that.
If you constantly adjust your Bitcoin price to whatever the dollar value demands you can't predict your Bitcoin income well enough. The only option you have then is to immediately convert it to dollars on reception and pay your suppliers in dollar.
But then you're not a Bitcoin business anymore. You're just a dollar business that pretends to be a Bitcoin business as a marketing gimmick. You will hold dollars instead and then it's back to worrying about the stability of the dollar which you wanted to avoid in the first place. 99% of so-called Bitcoin businesses are that. It's make-believe to suck the money out of a few starry eyed and not so clever Bitcoin dreamers.
That's why I keep asking questions like that and usually not getting an answer because the answer would be rather ugly:
Ah yes? I'm interested in the breakfast and the coffee. What's the shop? How much did you pay? Are prices stable? Do they pay their suppliers in Bitcoin?
Published at
2024-03-19 16:57:17Event JSON
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