I think Charlie Steiner’s observation in a different thread on this post is accurate: the main question is how do you make sure people sell goods in return for DDs? Or to extend my usage of the language of “sources”, how do we make the “sinks” (people who are willing to receive DDs in return for something) balance the sources (people who get the DDs in the first place)- while USD has the tax system as a standing sink, I find it interesting that Bitcoin has no sinks- but much of why people buy BTC is because they expect it to still have value in the future, which is not the case with USD or DDs; but there are also people who buy BTC because there is some transaction they want to make where BTC is the currency they want to use… but indeed, BTC isn’t actually that good of a currency to use for purchasing goods, many other cryptos do a much better job of that.
Probably the best way to create sinks for DDs is to get multiple (perhaps local) stores to all agree to sell goods in return for DDs, with common mutual knowledge of such. Either paying them extra USD to do so, or making them want to by convincing them that it is moral to do so, can make sense.
I think Charlie Steiner’s observation in a different thread on this post is accurate: the main question is how do you make sure people sell goods in return for DDs? Or to extend my usage of the language of “sources”, how do we make the “sinks” (people who are willing to receive DDs in return for something) balance the sources (people who get the DDs in the first place)- while USD has the tax system as a standing sink, I find it interesting that Bitcoin has no sinks- but much of why people buy BTC is because they expect it to still have value in the future, which is not the case with USD or DDs; but there are also people who buy BTC because there is some transaction they want to make where BTC is the currency they want to use… but indeed, BTC isn’t actually that good of a currency to use for purchasing goods, many other cryptos do a much better job of that.
Probably the best way to create sinks for DDs is to get multiple (perhaps local) stores to all agree to sell goods in return for DDs, with common mutual knowledge of such. Either paying them extra USD to do so, or making them want to by convincing them that it is moral to do so, can make sense.
People who buy BTC not only expect it to still have value in the future but usually expect it to have higher value in the future.