FACT: I've probably lost money living on crypto.
Being the human guinea pig for freedom money isn't a great way to get rich.
This is probably a massive misconception people have when they find I've been in crypto for 12 years: they think I'm either extremely rich, or gambled everything away with poor financial decisions.
Neither is true: I just made day-to-day trade-offs to explore radical adoption of freedom money in the real world.
Saying "I'll only work if you pay me in crypto" means I had to say no to a lot of earning opportunities.
Saying "I'll only hold and spend crypto" means I had to pay the more expensive option many times.
Saying "I'll use scarce sound money" means I couldn't take profits to a bank account with market dumps.
Many of the pioneers of crypto have experienced the same thing: Laszlo Hanyecz lost incalculably when he paid 10,000 BTC for two pizzas. Amir Taaki focused on freedom tech, and didn't do nearly as well as his contemporaries.
At the end of the day, these are sacrifices that the pioneers of the space must pay for others to live free. I'm at peace with it.
Yes, if I had it all to do over again, I wouldn't have changed a thing.
I also got compensated in something far more precious than money: freedom.
For 9 years straight, I haven't had to worry about anyone censoring me or removing my ability to use my money. I've been able to act as I wanted, do whatever I wanted, say whatever I wanted, live how I wanted, without anyone's permission.
Rich people will spend millions to do the same!
So I have no regrets on losing out on money because I chose to live free. I doubt most who did the same regret it either.
Soon, the sacrifices of early adopters will mean everyone gets to live like this, but easily, without pain.
Never forget those who came before you to build the free world! 🫡
Posted Using InLeo Alpha
You lead an interesting life! What are your impressions of Hive after being here for a short time?
I've actually been on here a long time, 8 years (since the Steem days). I just lost keys to @thedesertlynx my old account.
Definitely a fan, of course.
I see. I'm going to check out your presentation at Hivefest. The Dash and Inleo collaboration looks interesting btw.
Here's the presentation, timestamped:
Thanks.
"Why would you spend your Bitcoin/crypto if it's going to the moon?" is a common question.
I agree though, it's better to get into the habit of paying with crypto whenever possible, so that we are no longer dependent on the draconian fiat-based system. Even if that means losing some "money" along the way, the benefits outweigh the drawbacks.
I think people who have been living entirely off of crypto will fair better when the elite roll out their digital ID / CBDC system. Those who have exited TradFi will have made the full transition to freedom money, and won't have to worry about things like account suspensions or asset confiscation.
Also, spending crypto means more people/businesses will end up owning it, and they will likely join our movement when they see the value of their crypto increasing relative to fiat.
When they ask that question, I say: "What else are you going to spend?" When they say "fiat" I say "Why the hell do you still have fiat?"
Nowadays Bitcoin (BTC) is not really suitable for daily payments, because it is slow, its price has a high volatility, and it has high transaction fees.
These are the reasons why Steam is no longer supporting Bitcoin either.
Yes, on-chain payments can get expensive, especially during bull-runs or when ordinals (Bitcoin NFTs) are being generated. The lightning network (LN) has improved, however, and payments are usually pretty flawless (and cheap) these days.
I still question LN's long-term viability though, as its decentralization often comes into question. That's why it's nice to have alternatives like Dash, Litecoin, etc.
Nowadays I buy Litecoin (LTC), but only to buy Hive with StealthEX, because Bitnovo currently does not support Hive.
As for the daily payments, I think that stablecoins are much more suitable than regular cryptocurrencies.
Yes, so long as the US dollar remains stable (and doesn't hyperinflate against crypto at some point), stablecoins will be very useful.
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