Nostr

That's correct! You also get ACH bill pay (with bitcoin rewards for non-free members, 1 daily spin wheel spin (I tend to average 10 sats/day), and free withdrawals of purchased bitcoin (they pay the miner fee).

Additionally, you can deposit bitcoin and "push" it (sell) to the debit card for spending, so fiat deposits aren't the only option for adding funds to the account.

Jason Ansley | Fractional COO | Leadership Coach 8mo ago

I wasn’t aware of the push approach

nostr:npub1vgldyxx7syc30qm9v7padnnfpdfp4zwymsyl9ztzuklaf7j5jfyspk36wu are you on their paid tier? Do the sats you earn from spending (10 per day is it?!) offset the monthly fee (which I think was $9/mo or something like that)

The fee is one reason I haven’t done much with Fold other than the free daily spin. As at my current level of moving to a Bitcoin Standard, the costs (in fiat terms) doesn’t outweigh the expense.

Which I realize isn’t a great argument…but the misses isn’t quite Orange Pilled yet. So I’m having to balance multiple priorities 🤫

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Discussion

pup 8mo ago

That's a very good thing to consider. For a whole I was just a free member because I wouldn't generate enough sats there to cover the fee.

Since then though, as I've routed more of my financial life through them and used the gift card rewards where applicable in my life, it actually makes sense financially to pay for the extra sats back on ACH rewards, the lower fees on bitcoin pyrchases/conversions, and higher rewards on gift card purchases.

Got a $100 REI gift card to use for some camping stuff recently, the 8% I got back on sats nearly made up for the monthly fee with that single transaction.

Jason Ansley | Fractional COO | Leadership Coach 8mo ago

Yea I can see the gift card approach really helping.

I think what Fold does indirectly (unadvertised) is help us THINK before we buy.

With a tradfi debit or credit card we just swipe…

The intentionality and certainly the human contact portion is nil.

It’s another way Mammon is trying to kill relationships between people.

pup 8mo ago

I think that's what Fold does indirectly, and what Bitcoin does directly.

A money that can credibly store value through time makes plain the opportunity cost of every transaction.