So much energy seems to be wasted on the “is Bitcoin a SOV or currency” debate. When merchants or wholesalers with pricing power—due to unique products, scale, service, etc.—start demanding Bitcoin for their goods and services, the people will use Bitcoin. Until then, it will be the weaker currency. What we can do to speed up this process is orange pill more merchants and wholesalers, and build the tech rails on which this system can thrive.

Fold Bitcoin gift card is such a scam. $200 in Bitcoin purchased for me as a gift on Aug 18. Given to me today, so I redeem it on the app. They take a $25 (!!!) fee and convert at today’s (higher) price. 12.5% fee. Messed up, Fold.

1 sat = 1 cent ($1M Bitcoin) is only an 8.7x from here. That’s nuts

I really enjoy listening to Jordi Visser. Enough that I’ll even listen to Pomp’s podcast to hear Jordi

Spent some time with family member this weekend for the holiday. He’s had interest before in bitcoin, but unfortunately was part of the BlockFi mess so has been hesitant since then. We talked about bitcoin a good bit this weekend. He said he’d consider putting $30k into bitcoin if it dropped “into the 70s” again. But said he’s more likely to buy Eth. I explored this and it’s completely the unit bias thing. Said “what if Eth catches up to Bitcoin and is 20x from here”. I explained market caps, different addressable markets, Eth’s vulnerability to better tech plays, etc. No luck—this is what we’re up against.