Bootstrapping the Circular Economy With Podcasting 2.0
According to Jack Mallers Bitcoin 2022 announcement, Bitcoiner's will be able to spend bitcoin at normie stores in a matter of weeks. This officially makes bitcoin:
- A Store of Value
- A Medium of Exchange
- A technology capable of disrupting SWIFT and Credit Cards
Unit of Account is the final boss. Many of us already think in sats, but when we truly get hyperbitcoinization, we will all think in sats.. When we all think in sats, we'll get paid in bitcoin.
To help make this a reality, I think it is important to support businesses and creators that are already accepting bitcoin. I shop at stores that accept bitcoin. I eat at restaurants that accept bitcoin. I'm excited to buy everything I need using bitcoin.
I also support podcasters with bitcoin using the Fountain App. This allows me to support my favorite podcasters like Matt Odell on Citadel Dispatch. I especially like how his podcast is 100% listener supported. This is how the Internet should be, instead of corporations acting like sharks and treating us like chum. , Mr. Odell says the add based model pays way more than listener contributions. It shouldn't be that way.
Matt Odell has 160,000 followers I suppose many of these followers are nyms, so maybe the actual audience is 80K. Suppose 20% of these people donate 250 sats to Matt Odell by boosting him 250 sats per episode or perhaps streaming 5 sats per minute(which is about 250 sats per hour) 250 sats is only ten cents on the fiat standard. You might not even pick up a dime if you found it on the ground. You might pay 10 cents more per gallon of gas because because it's easier to use a credit card than making a trip to the ATM. You might pay 1600 times that on a Spotify subscription that would give Matt Odell an income that is the equivalent of $1,600 per week or $83,200 per year.
How much do you think Spotify pays podcasters when subscribers listen to them on Spotify? Does some of that $16.00 per month get to podcasters other than people with the name, Joe Rogan? My guess is zero. You could pay 50 content creators $0.10 for $5.00. Bitcoin over the lightning network lets us cut out the middle man?
What About Capital Gains Tax?
If you spend $60.00 a year worth of bitcoin on supporing podcasters, you may owe capital gains tax. In the United States, long term capital gains tax is 15%. So you should send a $9.00 to the IRS to avoid tax evasion. Is $9.00 a year really going to change your lifestyle all that much? If it is, you should consider tax evasion. The government probably won't find out, but I would just pay the taxes to avoid the IRS. I understand the tax protest movement has a long tradition in the U.S. and I'm sympathetic to this movement, but for me...it's just not worth the risk. If a draconian government raised capital gains to 80% I would reconsider my position.
Spend At Least A Small Amount Of Bitcoin
I'm not saying sell all your bitcoin and buy a lambo. I'm saying get comfortable paying in bitcoin. Support Businesses that accept bitcoin. You can spend and replace or use Strike if you are lucky enough to live in the US.
Are there privacy implications of this? Yes.
Am I better off buying Bitcoin with cash I earn under the table on Bisq, coin-joining on Samourai and sending it to Muun to make lightning payments? Also yes.
Most people are not going to do that, but that's the goal.
Ideally, you want to make your living by selling goods and services for bitcoin. Then spend bitcoin on everything you need. You'll be surprised how your spending habits change when using peer-to-peer electronic cash as your money. To be honest, even cuck bucks seem to make you spend less money because it takes away the convenience of a credit card. I would say this is the main drawback of using something like Strike for your payments. Yeah... I know...KYC, but if you only spend fiat with Strike, the KYC is not as big of a deal until you get banned from using the app for making protests or selling tit pics. This negates most of the benefits of a peer-to-peer network. When dealing with a company, the relationship is no longer peer-to-peer, but rather master, slave. The ability to spend your money is entrusted with a third party.
Of course, most people would probably use Strike to stack too, since there are virtually no fees. Ideally, you would want to use bitcoin in a completely peer-to-peer way, but that's probably not going to happen. Most people will probably choose convenience. I suggest you use Bisq, but I understand it's not a perfect world. If you want to pay my paywall using Strike, I'm not going to stop you.
Brutus Bond
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Reverse Paywall(I had this idea of creating a reverse paywall, but it's silly now that we have zaps.
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