One of the important reasons why I think BTC's main value proposition is as a store of value and not as a payment system is that it's simply not needed for that.

I get it -- migrants sending money through Western Union paying fees through their asses. But BTC is not required to fix that.

I use Wise and can transfer instantly between actual bank accounts in different currencies at insignificant cost. I get paid by my US clients by ACH. Instant and free. I switch to my local currency for virtually nothing and transfer to my own Wise and non-Wise accounts for free.

Most important, the transaction costs are fixed and knowable. They don't change depending on whether some prick is minting PepeCumInADogsAss memecoin tokens or China banning BTC mining again.

If the transfer is to another Wise user all I need is their email address and it's also instant.

I have transferred to accounts using ACH, SEPA, whatever it is called in Singapore, Japan, Indonesia, Korea, Chile... and it's instant.

And traditional banks have caught up too. Instant and FREE transfers within the same bank have been a thing for many years now.

Now they're a thing between different banks too, at least where I am. I just paid a bill by instant SEPA to another bank. Instant and free -- under the "legal threshold" of €900 at least.

My point being, Bitcoin does NOT fix this particular thing, because that's just not what it does well.

What it does well is preserving the purchase power of my Argentinian family in a hyperinflationary context, and allowing me to move from country to country carrying (or really, not carrying) all my net worth with me without any predatory State thug being able to shake me down.

Am I the only one who is sad seeing Bitcoin pump…

I’m certainly not ready with stacking this cheap…

I get so mad when I do something inefficient and wasteful. Like missing a highway exit, or sending a BTC transaction with a high fee when I didn’t need to, or profiling people in grocery lines, knowing they will be slow, and still getting in the line. Things like this drive me more crazy than devastating life events. Something about having full control of the situation, and not doing the prudent thing makes me absolutely, irrationally nuts. Anyone else like this?

Apparently, tax rate levied by ancient Roman Empire to fund the armies was 2%.

Why do I always have the feeling that I don’t have enough Bitcoin?

Imagine dumping your censorship resistant capped supply money because your overlords just re-priced their ponzi. Incredible. Thanks for the cheap sats.

Jeff, I’m in a discussion with my brother. I shared this statement, and he is asking “who is stealing it?” I would say it’s the cantillon effect. What would you say??

USDC peg is being held with bubblegum and duct tape rn

Talking with #[0]​ this morning. He’s an expert on banking, Bitcoin, ETFs, and fixed income. Send us your questions, Silvergate, Signature, Silicon Valley Bank, and DCG are already on the agenda.

Bitcoin was designed to be ideal in this moment.

As trust in institutions continues to crumble the value of trust minimized money cannot be overstated.

You gotta take a thousand steps back so you can take 500,000 steps forward.

Am I the only one who reports the White House and POTUS for misinfo on Twitter?

Someone’s gotta do it! 👍