cslifer said:

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I have a legit question. Why would you tip someone with asset that has wild fluctuations in value?

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Because his barber is a hitman.

Crypto

The unit of account in our broader economy is most certainly still dollars, no debate there. That said, Bitcoiners are waking up to the idea of denominating your Bitcoin savings in Bitcoin terms, not dollar terms. This trend may grow, may not, we'll see.

exp said:

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12/1/2022
Purchased $118 of goods from vendor Blockstream using the Bitcoin Lightning Network. Payment was instant using my Blue Wallet on my phone, irreversible, and carried zero fees to the vendor. I paid 752 satoshis in fees.

Purchased 1.7 million satoshis using Strike and moved those funds to offline cold wallet as long term savings.

I also plan on tipping my barber later today with Bitcoin instead of cash. He will likely use CashApp on his phone or Muun wallet on his phone to receive the Bitcoin.

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This is Bitcoin's strong suit. Problem is people want it as a rank speculation

How do you like Blue Wallet? I have Muun but I have not used it for everyday transactions yet.

exp said:

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cslifer said:

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I have a legit question. Why would you tip someone with asset that has wild fluctuations in value? That bitcoin you used COULD be worth 2-3x in the not too distant future (not trying to get into a debate on where it is headed, just pointing out the fluctuations). This kind of reminds me of people that bought a pizza for 10 bitcoins because they could...if they had paid cash they would be holding 160k today. Personally, I would use the cash in my wallet that is depreciating by the day.

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Because tipping in Bitcoin is a conversation starter and promotes broader familiarity with using self-sovereign money. It's not uncommon for me to insist on hiring people on the terms they accept Bitcoin for payment now. I do that with my firearms instructor. Most are curious and go right along with it.

Also, any Bitcoin I spend on goods or services is immediately backfilled with a fiat purchase of Bitcoin. So my net percentage of Bitcoin does not go down as a result of these interactions.

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Is there an app that lets you store funds in dollars and pay someone in Bitcoin? I'm thinking of an app that would do an immediate conversion of a purchase price in USD to Bitcoin and transfer of the funds. That way, there is no gap in time between when Bitcoin was bought and a purchase made. As such, there could be no capital appreciation and no capital-gains tax liability.

Yesterday I listened to the podcast below on fountain. And sent some sats to boost the program.

It's a good listen, discusses the debt spiral the US is in.

https://fountain.fm/episode/11463786682

Its Texas Aggies, dammit said:

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Is there an app that lets you store funds in dollars and pay someone in Bitcoin? I'm thinking of an app that would do an immediate conversion of a purchase price in USD to Bitcoin and transfer of the funds. That way, there is no gap in time between when Bitcoin was bought and a purchase made. As such, there could be no capital appreciation and no capital-gains tax liability.

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https://invite.strike.me/HF9GW5

Pepper Brooks said:

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Its Texas Aggies, dammit said:

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Is there an app that lets you store funds in dollars and pay someone in Bitcoin? I'm thinking of an app that would do an immediate conversion of a purchase price in USD to Bitcoin and transfer of the funds. That way, there is no gap in time between when Bitcoin was bought and a purchase made. As such, there could be no capital appreciation and no capital-gains tax liability.

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https://invite.strike.me/HF9GW5

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Thanks. So if you select "pay" in Strike, the recipient receives sats and not dollars?

If you select pay and either scan a lightning/BTC mainnet QR code, or input a Bitcoin address, you'll pay dollars and they'll get BTC.

It's how I do my DCA purchases.

Debit card -> USD to Strike -> Pay a BTC address associated with my xpub

TriAg2010 said:

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cslifer said:

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I have a legit question. Why would you tip someone with asset that has wild fluctuations in value?

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Because his barber is a hitman.

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Or, he's getting the happy ending service.

How does one move money onto the Lightning network? I tried to send from Strike, and it didn't like the QR code.

XpressAg09 said:

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How does one move money onto the Lightning network? I tried to send from Strike, and it didn't like the QR code.

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You probably need to setup your receive qr code as an invoice first. Your wallet software should have an easy UI for this.

"familiarity with using self-sovereign money"

I've heard This plenty of times, but aren't to subject to about six different companies to make this transaction work? What is blue wallet? What aps did you use to get the bitcoin in the first place? What smart phone were you using? On what network?

Towns03 said:

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"familiarity with using self-sovereign money"

I've heard This plenty of times, but aren't to subject to about six different companies to make this transaction work? What is blue wallet? What aps did you use to get the bitcoin in the first place? What smart phone were you using? On what network?

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I know this wasn't directed at me but are you put off by the use of the word "self-sovereign", because we depend on others to innovate ways to interact with BTC, or do you truly believe BTC doesn't improve the sovereignty of an individual?

Every paycheck, X% goes to Strike via direct deposit, which is hosted or run through a bank in Kansas City, I believe.

Immediately I move the nearest whole hundredth of a Bitcoin to my Trezor, usually leaving .01 plus the leftover on Strike. Yesterday, I downloaded Blue to test the Lightning network. I moved .01 BTC from Strike to my new BTC account on Blue. Then I moved ~$18 from BTC to Lightning.

Zero issues, minus the aforementioned transfer question earlier on this thread.

I'm of the belief that BTC has legs and folks should buy it now while it's "down." One of those "have it and not need it vs. need it and not have it" scenarios. It's worth throwing, at the very least, some fun money into it and letting it sit in the event:

a) inflation due to Fed printing money or
b) government cutting off access to your bank accounts
(Both of which have happened in the last two years)

Towns03 said:

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"familiarity with using self-sovereign money"

I've heard This plenty of times, but aren't to subject to about six different companies to make this transaction work? What is blue wallet? What aps did you use to get the bitcoin in the first place? What smart phone were you using? On what network?

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Bitcoin wallets are based on open sourced standards that are fully interoperable with each other. When we use Blue Wallet, we're using their implementation of the standard but if Blue Wallet disappears or I don't want to use them anymore, all I have to do to reconstitute my signing device is enter my seedphrase backup into a new device. There are other wallet apps or wallet manufacturers...any of them will work. There are even totally homebrew Bitcoin wallet devices like seedsigner...

Banks can lock your accounts…

PayPal could fine you for misinformation…

Governments can print their way to hyperinflation, over-spend, and steal through taxation…

But no matter what, bitcoin will be here waiting to serve you.

Hope that helps paint the picture a little. It's not like having your money with Chase or PayPal and you directly must get permission from one company (and government) to move spend or access your money.

As for the internet, that's another open protocol that if compromised due to EMP or tyranny we've got bigger issues. Just know that as a Bitcoin holder, without connectivity to the internet you may temporarily not be able to broadcast transactions, but my Bitcoin isn't going anywhere in the mean time. Even if half the earth lost internet for a year, wouldn't matter.

Once you get it it's mind blowing the implications. Here's Adam Back describing it as such just today

Cory Klippsten, CEO of Swan Bitcoin asks Head of Consensus Magazine why no bitcoiners were included on

CoinDesk's 50 Most Influential
people who defined the 2022 year in crypto.

It’s fire 🔥🔥🔥#bitcoin pic.twitter.com/1IVCnZRPlC

— Neil Jacobs (@NeilJacobs) December 7, 2022

i think basically the root problem is it's fluffy token distraction thinking. there's a self-sovereign financial revolution happening and they're looking the other way at distractions. those who "get it" are not even on the same plane, already ascended to the bitcoin standard.

— Adam Back (@adam3us) December 7, 2022

Quote:

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I'm of the belief that BTC has legs and folks should buy it now while it's "down." One of those "have it and not need it vs. need it and not have it" scenarios. It's worth throwing, at the very least, some fun money into it and letting it sit in the event:

a) inflation due to Fed printing money or
b) government cutting off access to your bank accounts
(Both of which have happened in the last two years)

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You kid yourself if you believe that bitcoin as a currency is any less susceptible to inflation than dollars.

As a storage vessel for wealth it is just what it has always been - its value rests on how much someone else is willing to pay - like a van Gogh painting, although not nearly as handsome.