"Scarcity in money creates abundance everywhere else." @Jeff Booth Lightning adds a line. The scarce money is now productive, and the productivity accrues to the holder, not an intermediary. Visa's flywheel benefits Visa. Lightning's benefits whoever holds the sats. Same BTC deployed, transacted, and earned. No translation layer, no counterparty risk, no new supply. The only Bitcoin yield that doesn't reintroduce the inflation you spent a book arguing against. Bitcoin stopped being only an escape from the system. It became a productive asset inside a deflationary one.

If Digital Credit becomes the lone default treasury framework Bitcoin will not be adopted by many businesses. Entry is simply too high with many inherent risks that don't have an engineering solution.

CashApp did what?

This capital velocity puts Lightning in the top 3 of Damodaran's dataset. View quoted note →

Lightning routing fees: 8 bps per transaction. Looks like nothing. Multiply by 64.7x capital velocity and it's 5.58% gross ROIC. Zero leverage. Self-custody intact. We call the error static capital bias. The fee looks small when you only calculate one turn.

Heard the burned BTC was Mike trying to use Lightning.

Chatted with a guy doing innovative stuff with Bitcoin and insurance. He does not think its money.

Bro does your Bitcoin even work?

3:39 LCM 400 FR is wild.