This statement is stupid. Only someone who has no interest in making money would say “make your company only accept Bitcoin as payment”. It doesn’t make sense for a normal business to take only any single cryptocurrency as payment. If you have any kind of investment, which most new companies do, it is literally a potentially criminal and certainly civil violation of your fiduciary duty to only take Bitcoin. This was only a valid strategy when Bitcoin was sure to 1000x. Now it is not. You need to provide goods and services that are impossible to provide through anything other than Bitcoin, and concentrically expand your offering to adjacent goods. For example, many states have laws against purchasing a catalytic converter without an ID, because niglets with angle grinders are stealing so many of them. This is a small bit of regulatory tape that can be completely bypassed if you operate an online grey market and don’t KYC. Also chop shops in general have no single point of liquidity. You can be that point of liquidity. Other things that are heavily regulated include snails (you have no idea the series of federal and state crimes it takes to get fresh escargot on your plate in an upscale French restaurant), sea mammal meat, beluga caviar, and raw milk and dairy products.
View quoted note →