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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Fold's Inception
- Fold's initial concept was to create a platform for spending Bitcoin at local merchants.
- It aimed to demonstrate Bitcoin's usability and value by enabling real-world purchases like coffee at Starbucks.
Staying True to Bitcoin
- Fold prioritized Bitcoin's core principles over adapting it for faster payments.
- They chose not to fork Bitcoin Cash, emphasizing the importance of Bitcoin's underlying foundation.
Fold's Hibernation
- During the Bitcoin bear market, Fold faced challenges with a business model reliant on spending.
- Despite offers from other coins, they chose to shut down temporarily rather than compromise their vision.
