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@ Joe Nakamoto
2025-05-13 09:25:22
GM!
I x-posted from twitter but I feel you guys will get it more.
Also I'm shilling nostr so you will like it.
🐻 🎤 A bugbear of mine is Bitcoiners misusing Gresham’s Law.
“Muuuh, Gresham’s Law” is not a valid excuse to keep spending dollars and never spend Bitcoin.
I get YouTube comments all the time like: “Only a fool spends their Bitcoin—it’s Gresham’s Law!”
Nope. Wrong. Gresham’s Law applies when two monies are accepted at a legally fixed rate.
That’s not the case here. Bitcoin and fiat float.
No one is forced to accept them at parity. So the law doesn’t apply.
Granted, it is technically "economically rational" to spend fiat over Bitcoin—especially if you’re not all-in, you don’t fully grok Bitcoin, or you only hold a tiny allocation. Or you're a dollar loving li'l b*tch who's only in it for fiat gains. (oops did i say that?)
But hoarding Bitcoin and spending fiat isn’t “Gresham’s Law in action.”
To me, it screams:
“I love paying Visa and Mastercard 3–7% in fees.”
“I love extending dollar hegemony.”
“I love being part of the problem.”
If you want a Bitcoin world—and trust me, you do, because you are currently HODLing btc—then at some point you have to spend it.
Want to live in a Bitcoin world? Put your money where your mouth is and ₿e part of the change.
So. How to start?
Download BTCmap to see where to spend btc near you, (do it—it's free), visit a bitcoin circular economy near you—promise you'll be blown away—check out Nostr where you can zap creators (easiest is to download Primal), send me btc on my website (hehe but srsly i'm independent and will thank you), check out Travala, ShopinBit, Bitrefill and many other online marketplaces that take bitcoin or bitcoin through gift cards.
And if you're going to a bitcoin event or conf, please pay in bitcoin for your tix. Satoshi thanks you in advance ✌️
https://blossom.primal.net/52606798c2ab1a400c0f31efabb37cd030144d99613297da1c61da72bccbab1e.png https://blossom.primal.net/42cb05a1acbad883a4539b53989844782db394da3227f5b13ad9145a733e9e57.png https://blossom.primal.net/c62c025674bdc12deabeffc0c67ec392fa7e19907a508db76a27b824db4da476.png