My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse. My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
Even Marcus fails to understand borrowing USD against Bitcoin is extremely regarded, extending the fiat ponzi. Bitcoin creates an entirely new economy. Instead of borrowing from tomorrow, we save for tomorrow. Work, save, consume (Bitcoin) vs Consume then work (Fiat). On a Bitcoin standard, all lenders are incentivized to rug your bitcoin and fulfill you with fiat. There is no peg, seems we learned nothing from gold and are perfectly happy creating paper Bitcoin as long as we become fiat rich. It's strange listening to all the great things Bitcoin provides, then hearing the mental gymnastics of how we'll jam it into the fiat box.
Thanks for sharing! Imho it is an inbetween “product” to challenge the purely predatory mechanisms in fiat finance before we move onto to full on Bitcoin. We can not switch from one day to the other, new generations - that grow up with Bitcoin - will accelerate this.
Lending can still exist under a bitcoin standard. Lending is a normal, human economic interaction between two parties. There will always be a demand for lending. But under a bitcoin standard, this interaction becomes extra risky(as it should: loans should NOT be dirt cheap). The point of Bitcoin is to be hard, incorruptible money. As long as that exists, then it is only a matter of time before all of the old fiat games crumble. A bitcoin standard will demonitize irresponsible loans and irresponsible spending. Which is another way of saying, that the free market will incentivize and reward saving, and decentivize and demonitize spending your future income.
@@bramk it is a commodity at best. To replace fiat is a huge undertaking in terms of technology, adoption, regulations and shift of the central banks. That's another decade or two
Maybe an argument for digital gold is sound, but the lightning network is still not 100% baked, so transactional ability really isn’t there. That being said, retail got it to 8k, institutional got it beyond 60k. Wall St. got it to 90k, perhaps state resources will get it to 200-300k? Lightning or something similar could bring it to $1,000,000.
Yes. Everyone will hold bitcoin, earn in bitcoin, and spend in bitcoin. Be it on layer 1 , 2 , 3 etc. You will go to starbucks, and your pumpkin spice Latte will be priced in 10 sats, and the cashier machine will have a big ol orange B sticker on it, so you know they accept bitcoin as payment
Hey Justin - Bitcoin is superior money to USD, or any other fiat currency. People will start pricing (and asking for) products in Bitcoin. Slowly over time we replace any fiat currency.
If u use Bitcoin as collateral for a house or anything, and the fiat value of the house falls, u may not be able to pay off the fiat loan and therefore lose ur Bitcoin (depending on exchange rates and value difference of items involved)
@bramk yes, so you want to put up the weakest collateral...and if u believe Bitcoin is the best form of property and ever increasing value it's not a good idea to use it for such purposes
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse?.... My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
I do not understand how the dollar can generate sats and stay valuable am I missing something the interwoven connection with soverinty and the dollar createing a bitcoin. It just stays there no. I do research and these misunderstandings imnhaving will be solved thank you bram
Hey Justin - for now, accepting USD and turning it into BTC is your best option. You can also communicate to customers that you take Bitcoin as payment. Just see going from USD to BTC as "moving". All economic energy that you have stored in your USD is leaking, and you can move it to BTC by SELLING USD ;)
I felt like saying! Party!!! 🎉
LFG
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse. My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
it is definitely a funnel
Im waiting for Bitcoin to fall to $5.73 so that i can become a fullcoiner
It will never be lower than $69.420 again
Even Marcus fails to understand borrowing USD against Bitcoin is extremely regarded, extending the fiat ponzi.
Bitcoin creates an entirely new economy. Instead of borrowing from tomorrow, we save for tomorrow. Work, save, consume (Bitcoin) vs Consume then work (Fiat).
On a Bitcoin standard, all lenders are incentivized to rug your bitcoin and fulfill you with fiat. There is no peg, seems we learned nothing from gold and are perfectly happy creating paper Bitcoin as long as we become fiat rich.
It's strange listening to all the great things Bitcoin provides, then hearing the mental gymnastics of how we'll jam it into the fiat box.
Thanks for sharing! Imho it is an inbetween “product” to challenge the purely predatory mechanisms in fiat finance before we move onto to full on Bitcoin.
We can not switch from one day to the other, new generations - that grow up with Bitcoin - will accelerate this.
Lending can still exist under a bitcoin standard. Lending is a normal, human economic interaction between two parties. There will always be a demand for lending. But under a bitcoin standard, this interaction becomes extra risky(as it should: loans should NOT be dirt cheap). The point of Bitcoin is to be hard, incorruptible money. As long as that exists, then it is only a matter of time before all of the old fiat games crumble. A bitcoin standard will demonitize irresponsible loans and irresponsible spending. Which is another way of saying, that the free market will incentivize and reward saving, and decentivize and demonitize spending your future income.
Love Marty 🎉
🙏🙏
Bitcoin has been and could be a good investment. However it will never replace fiat currency.
Let’s see ;)
@@bramk it is a commodity at best. To replace fiat is a huge undertaking in terms of technology, adoption, regulations and shift of the central banks. That's another decade or two
Maybe an argument for digital gold is sound, but the lightning network is still not 100% baked, so transactional ability really isn’t there. That being said, retail got it to 8k, institutional got it beyond 60k. Wall St. got it to 90k, perhaps state resources will get it to 200-300k? Lightning or something similar could bring it to $1,000,000.
Try sending $100M in gold to the other side of the world with final settlement right now ;)
Beware the purple pant suit . Buy sats!
Best show ever🎉
thanks for your kind words!
I do not understand how bitcoin would work without the dollar what happens when the dollar runs out . Meansthe whole systems transfered to bitcoin?
Yes. Everyone will hold bitcoin, earn in bitcoin, and spend in bitcoin. Be it on layer 1 , 2 , 3 etc. You will go to starbucks, and your pumpkin spice Latte will be priced in 10 sats, and the cashier machine will have a big ol orange B sticker on it, so you know they accept bitcoin as payment
Hey Justin - Bitcoin is superior money to USD, or any other fiat currency. People will start pricing (and asking for) products in Bitcoin. Slowly over time we replace any fiat currency.
@bramk right so im not confused just in a battle of acceptance ok got it
@@JustinMartinez-y1h yes!
@bramk thank you.
You're doing a great job 😊
Thank you! Appreciate it
If u use Bitcoin as collateral for a house or anything, and the fiat value of the house falls, u may not be able to pay off the fiat loan and therefore lose ur Bitcoin (depending on exchange rates and value difference of items involved)
Of course but that is with any loan collateral.
@bramk yes, so you want to put up the weakest collateral...and if u believe Bitcoin is the best form of property and ever increasing value it's not a good idea to use it for such purposes
Much respect Bram :)
thanks Greg! Appreciate you
Mainstream Adoption Incoming 😊
YES
My name is Justin Martinez I live in the US. I'm a little confused on how to operate business between the two currencies. How do I accept dollars and turn them bitcoin without making the fiat system worse?.... My thought are I am involved in both currencies and only using one is hard to do. Still learning. I do believe the dollar broken and will need fixing.
I do not understand how the dollar can generate sats and stay valuable am I missing something the interwoven connection with soverinty and the dollar createing a bitcoin. It just stays there no. I do research and these misunderstandings imnhaving will be solved thank you bram
Hey Justin - for now, accepting USD and turning it into BTC is your best option. You can also communicate to customers that you take Bitcoin as payment. Just see going from USD to BTC as "moving". All economic energy that you have stored in your USD is leaking, and you can move it to BTC by SELLING USD ;)
As I said in the other reply, just view it as SELLING USD and EXCHANGING IT FOR BTC.