133 sats \ 0 replies \ @DarthCoin 17 Apr \ parent \ on: LRC-20 - a new approach to tokenization on Lightning lightning
The only wrong thing he's doing is that is thinking in short terms.
I did that too in the early days of my "earning in sats". I always tried to make the conversion for short term.
Until I said... wait a minute... the value inn sats of an item is always going down, so I will always pay less sats for the same product. I just have to be patient.
this is a meme, but based on a real post on reddit, those are facts
So I start doing the following:
- put in an excel all sats I earned during x period, each date etc
- put the value in fiat of each earned sat
- put the expenses I've done, in sats too, with the conversion in fiat
Then I start, spending only the amount of sats I earned in the past with a lower fiat price. You understand what I mean? It means I was literally spending less sats than I earned.
When the price was going down a bit, I stopped or delayed the spending as much as I could.
When I was about to charge a bill to my clients, I was trying to delay sending those invoices until the price get a nice dip, so I could take more sats.
In this way I achieved a way to spend less sats than I earned.
Until one day when I gave up and delete that excel file and I said, fuck it, I will only try to spend less sats than I earned in x period. Done. My only worry was to spend less than previous period and maximize my earnings in sats.
Now, your merchant should have a focus on:
- save little by little the sats he receives
- pay the bills he have to pay using intermediaries that could take his sats and pay his bills. That means, he will never have to open a bank account or touch shitcoins. These intermediaries could be even YOU, your friend, take his sats and pay his bills with your dirty fiat.
Here is a list with more intermediaries, from which I suggest shopinbit.com
I am still trying to spend the sats I earned in 2016... just saying. So imagine how so called inflation is "killing" me :)