We Study Billionaires - The Investor’s Podcast Network BTC027: The Bitcoin Rewards Trojan Horse w/ Will Reeves (Bitcoin Podcast)
May 26, 2021
Will Reeves, founder of Fold and a pioneer in Bitcoin rewards, discusses his journey in the payments space. He reveals how Fold blends traditional rewards with Bitcoin, allowing users to earn crypto back on everyday purchases. The conversation dives into the innovative use of the Lightning Network for seamless transactions and the promising shift towards Bitcoin integration in daily life. Reeves also touches on the implications of Bitcoin volatility in cashback systems and the transformative potential of Bitcoin rewards in redefining consumer behavior.
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Managing Volatility
- Fold manages volatility and fees by accepting Bitcoin payments via the Lightning Network.
- This creates a circular economy where Bitcoin from purchases funds rewards for other users.
Seamless Lightning Payment
- Preston Pish shares a personal story of seamlessly paying a Fold Lightning invoice with Jack Mallers' Strike app.
- This highlights the interoperability and user-friendliness of the Lightning Network.
Prioritizing Lightning
- Fold prioritizes the Lightning Network, subsidizing rewards to incentivize its use.
- This fosters a virtuous cycle, improving wallets, growing the network, and benefiting Fold.
