prochronist on Nostr: re: Fold going public I was fold-pilled a few years ago, it's a great stacking tool, ...
re: Fold going public
I was fold-pilled a few years ago, it's a great stacking tool, sometimes up to 10% back at select stores, but I've been quietly anticipating a bitcoin cashback credit card. That's when the real fun begins and they could 10x their appeal.
Many families - if financially literate and prudent - try to optimize cashback rewards in some way. Even with a standard 2% cashback on all purchases, a Fold credit card would be competitive, but many may not opt in, given that it's bitcoin.
If they can offer a 3% flat cashback (as no other issuer really offers this anymore besides the new RH Gold) or even 5% in select categories, it will be very appealing to individuals and families trying to save. (There is also an entire subculture of nerds who churn cards/optimize rewards - Fold should target these guys.) With a 3%/5%, these types will likely overcome their initial bitcoin hesitancy to give it a try.
Then once bitcoin's monetary theory becomes clear and their cashback grows (3% becomes 6% etc), you'll have effectively orangepilled them on bitcoin as a value savings mechanism
I was fold-pilled a few years ago, it's a great stacking tool, sometimes up to 10% back at select stores, but I've been quietly anticipating a bitcoin cashback credit card. That's when the real fun begins and they could 10x their appeal.
Many families - if financially literate and prudent - try to optimize cashback rewards in some way. Even with a standard 2% cashback on all purchases, a Fold credit card would be competitive, but many may not opt in, given that it's bitcoin.
If they can offer a 3% flat cashback (as no other issuer really offers this anymore besides the new RH Gold) or even 5% in select categories, it will be very appealing to individuals and families trying to save. (There is also an entire subculture of nerds who churn cards/optimize rewards - Fold should target these guys.) With a 3%/5%, these types will likely overcome their initial bitcoin hesitancy to give it a try.
Then once bitcoin's monetary theory becomes clear and their cashback grows (3% becomes 6% etc), you'll have effectively orangepilled them on bitcoin as a value savings mechanism