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Airlines are also banks. Their miles are their own private currency. The outstanding miles (liabilities) are often larger than the market cap of the company.
And the coffee is shitty as it can be
Every business eventually becomes a bank. It is the only way to survive. @Saifedean Ammous has been all over this.
Interest free loans from customers
You would be shocked by how much even a small local business has issued in gift cards.
Wow do you have a source?
One benefit is miles expire unless they’re United miles
Thanks G
Or as @jimmysong puts it. The kitchen is worth more than the house.
Doesn’t this make them an unlicensed money transmitter according to DOJ’s current working definition that they are prosecuting the Samourai founders under?
น่าคิดแฮะ #siamstr
Are there any numbers for unused Amazon Gift-Balances? #asknostr
h/t @Saifedean Ammous & @MattA
Are there any numbers for unused Amazon Gift-Balances? #asknostr
View quoted note →
h/t @Saifedean Ammous & @MattA
View quoted note →
I’d wager airlines miles are a harder currency than most state fiat.
cc @Saifedean Ammous
@Saifedean Ammous can you make a The Bitcoin Standard documentary? It would break the internet 🙏🧡💜