Joe Martin's avatar
Joe Martin 1 month ago
It's more for calculation purposes for newbies. They want to know if they're sending and receiving a dollar, not 1000 sats. If the artists choose to keep the sats or cash out is up to them. We're trying to solve the payment issue for artists. Keep it as simple as possible We're looking at this from a payments perspective of lightning rather than btc as better savings (that's a separate conversation)

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While on holiday, say in Europe and you see something for 1 Euro, your mind automatically calculates that back to being around 80p. Bitcoin is just another currency, you either need to convert it or you don't. You say 1,000 Sats is a dollar, I wish, I remember those heady days 😂 But that makes another point. In highly volatile jurisdictions such as the Lebanon, the local currency is not held by its locals due to its high inflation rate. It is converted to and from either the product being bought or a more stable currency such as the USD, often in the form of stablecoins. Even in high inflation or volatile currencies, people find ways to adapt. If you want to see pounds dollars or Sats, the choice is the users. If they choose to see pounds or dollars, they would not expect to experience the volatility of Bitcoin, or see that affect their dollar or pound earnings. A firm like Strike may make a good partner for this kind of wallet or service. I am deliberately not tagging Strike or Jake Mallers, as I think you should make those kind of strategic decisions.
While on holiday, say in Europe and you see something for 1 Euro, your mind automatically calculates that back to being around 80p. Bitcoin is just another currency, you either need to convert it or you don't. You say 1,000 Sats is a dollar, I wish, I remember those heady days 😂 But that makes another point. In highly volatile jurisdictions such as the Lebanon, the local currency is not held by its locals due to its high inflation rate. It is converted to and from either the product being bought or a more stable currency such as the USD, often in the form of stablecoins. Even in high inflation or volatile currencies, people find ways to adapt. If you want to see pounds dollars or Sats, the choice is the users. If they choose to see pounds or dollars, they would not expect to experience the volatility of Bitcoin, or see that affect their dollar or pound earnings. A firm like Strike may make a good partner for this kind of wallet or service. I am deliberately not tagging Strike or Jake Mallers, as I think you should make those kind of strategic decisions.
Joe Martin's avatar
Joe Martin 1 month ago
Yeah, I think the balances should be held in sats (shown in fiat) so the fiat number would go up and down and that would dawn on the artist that they're holding bitcoin which they can cash out to something like strike or hopefully go down the rabbit hole and want to hodl
The dollar-denominated approach makes sense for adoption now, but artists holding sats long-term might outperform fiat conversions. I was just reading about how dollar dominance could unravel faster than expected—especially with BRICS dedollarization accelerating.