Using BTC to buy stuff

I remember the hype of some establishments accepting bitcoin as payment, soon after bit coin fell that fairy tale fell with it....no one cares to buy goods and services with a magical coin. ....no one wants to use fiat to buy crypto like bitcoin and see it fluctuate 10 to 20% a month......
 
The_Krakenite said:
o_O Did you inform Blackrock about this? I guess they missed your superior insight.
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I'll say it again. No one wants to buy bitcoin and use it as currency to buy their Starbucks latte and new Adidas flip flops.

I don't see bitcoin accepted as payment at the establishments I walk into.

And who the fu*k wants to hold bitcoin in a wallet as in every single day I read yet another article about someone being hacked and being drained of their magical coins.
 
Here's something tangible you can buy with bitcoin.:p
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https://fortune.com/crypto/2023/12/...n-tether-nayib-bukele-investment-citizenship/
El Salvador became the first country to accept Bitcoin as legal tender. Now it’s offering citizenship for a $1 million ‘investment’
BYLEO SCHWARTZ
December 8, 2023 at 9:42 AM CST
On Thursday, the government of El Salvador, alongside the stablecoin company Tether, announced a joint initiative called “Adopting El Salvador Freedom” that allows foreigners to obtain a Salvadoran passport in exchange for paying $1 million in Bitcoin.

In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, mandating that businesses accept the leading cryptocurrency as a form of payment and rolling out a digital wallet called “Chivo,” incentivizing citizens to partake with a $30 sign-up bonus in Bitcoin.

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The venture proved controversial, with Salvadorans protesting the move—alongside President Nayib Bukele’s concerning autocratic shift—and adoption was slow, with the vast majority of citizens sticking with cash. Meanwhile, Bukele’s spending tens of millions in federal funds on Bitcoin proved disastrous, with its price plummeting from an all-time high of around $69,000 in November 2021—when Bukele announced the development of a “Bitcoin City”—to under $17,000 at the beginning of 2023.

Still, El Salvador has proved popular with Bitcoin acolytes from around the world, with the country’s tourism minister announcing in May that travelers were flocking to the country in historic numbers, driven by its commitment to crypto. That included many of the international community’s most prominent “Bitcoin maxis,” such as the influential company Swan Bitcoin, which opened a house in El Zonte, a surf town largely credited for starting the country’s Bitcoin experiment.

A steep decrease in the nation’s crime—spurred by Bukele’s contentious policy of locking up thousands of the country’s alleged gang members—has further incentivized Bitcoin supporters to flock to the country.

‘Visionary individuals’
Thursday’s announcement represents a new phase for El Salvador’s commitment to Bitcoin, buoyed by Bukele’s unverified pronouncement that his investment in Bitcoin has turned profitable, thanks to a recent price rally.

The Bukele administration has long partnered with Bitfinex, an affiliated company of Tether—the world’s leading stablecoin, or a crypto asset pegged, in this case, to the U.S. dollar—that has faced scrutiny over its lack of transparency and offshore jurisdiction. In April, Bitfinex became the first company to receive a license in El Salvador’s new crypto regulatory regime, and the government tapped the firm to help launch a long-delayed Bitcoin-backed bond.

According to a statement from Tether shared with Fortune, the new visa program enables participants to obtain a Salvadoran passport through a one-time payment of $1 million in Bitcoin, which the company is describing as an “investment,” although it is unclear where the funding will be directed. The program is seeking “visionary individuals,” including “high-net-worth investors.”

To start the process, applicants must pay a nonrefundable deposit of $999 in Bitcoin and Ether, followed by an unspecified “know your customer” process. The statement includes a government link to an application page, with a banner that says “Powered by Tether.”

The program comes alongside concerns from Salvadorans that an influx of tourists, especially in coastal cities like El Zonte attracting the crypto crowd, is pushing out lower-income families. In late November, local publication Mala Yerba reported that 25 families were facing eviction in El Zonte for the construction of a public park called “Bitcoin Beach Club de Playa.”
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Without price stability, you're going to get fucked at the drive-thru.

Powell has not been delineating the problem in a way people can understand.

Without the Fed, you are FUCKED!

Simple-enough English?
 
Well to be fair, the working class is already fucked at the drive-thru. McD's burgers are unaffordable to the working class now, something they admit.

The good news for stonkholders is number-goes-up because it's a real-estate company, not a fast-food company.
 
The_Krakenite said:
Well to be fair, the working class is already fucked at the drive-thru. McD's burgers are unaffordable to the working class now, something they admit.

The good news for stonkholders is number-goes-up because it's a real-estate company, not a fast-food company.
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I like the idea of BTC (and by extension the blockchain). I really do. What must calm down is the USD-equivalency! Ug!

It is still too volatile!

 
Overnight said:
Without price stability, you're going to get fucked at the drive-thru.

Powell has not been delineating the problem in a way people can understand.

Without the Fed, you are FUCKED!

Simple-enough English?
More...

Powell is not concerned with bitcoin, he has too much worries wrt insolvent banks



Overnight said:
I like the idea of BTC (and by extension the blockchain). I really do. What must calm down is the USD-equivalency! Ug!

It is still too volatile!
More...

The price of bitcoin goes up against all fiat currencies

Today, 1 bitcoin can purchase over 51,000 cuckbuck$


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https://twitter.com/x/status/1757809747367952428
 
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