I think a lot of people in "crypto" are missing the forrest for the trees by focusing on crazy "DeFi" schemes and novel applications of "blockchain technology".
We've mentioned BTC PayServera couple of times recently in this here rag. While I try to keep a fresh rotation of topics and projects churning through this letter as to not sound too repetitive, I feel compelled to elaborate on some of my thoughts regarding BTCPay. Especially after this tweet flew down my TweetDeck yesterday afternoon.
For those of you who are somewhat unfamiliar with what BTCPay is and what it does, it is, in a nutshell, payment processing software that allows you to "Bitcoinize" your business in a self-sovereign fashion. It may not seem like much at the moment, but this MASSIVE. The amount of economic activity that can be enabled by form fitting this technology on top of existing businesses and applying it to new businesses servicing needs in ways that would have been extremely hard, if not impossible, before the emergence of Bitcoin cannot be overstated.
Here's one example:
This may seem a bit extreme to some, but too bad. The cat is out of the bag, deep in the woods and gaining speed as it runs away. Whether one likes it or not, this software is here, it is open for anyone to download and preserve locally, and it is getting more robust by the day. As I described last week, once you experience the empowering feeling of accepting money straight to your hardware wallet from your online business, it's hard to imagine this not catching on. Your money is yours. No waiting for transfers or background checks. No relying on another business to control your money.
Now, don't get me wrong, this empowerment has been highlighted ad nauseam by bitcoiners over the last decade. However, there's something about setting up your own BTCPay Server, tracking your invoicing, and seeing it work flawlessly in the wild that makes that feeling more tangible.
With all that being said, what I'm really trying to get at here is that I think a lot of people in "crypto" are missing the forrest for the trees by focusing on crazy "DeFi" schemes and novel applications of "blockchain technology". To me, most of these opportunists are trying to engineer synthetic assets to line their pockets. Software the likes of which BTCPay provides enables a true, tangible opportunity for advantageous developers out there. There is a global digital economy that needs to be form fitted with software that enables commerce via Bitcoin. Those that realize this and create companies and services that help this digital economy "Bitcoinize" will have much more longevity and success than those focused on architecting some esoteric "token economy".
I've watched this no less than 100 times in the last 12 hours.