BTC Monetization Stories Part 73

I don't follow the sports ball and have no idea who Russell Okung is. What I do know is that he is taking half of his NFL pay in the form of $BTC.

And he's tweeting stuff like this:

https://twitter.com/RussellOkung/status/1344008525987672064

Yet another story of BTC reaching monetization status.

Crypto nerds like to bag on Peter Schiff because he's been wrong about BTC since the beginning. Peter's issue is that he is an Austrian economist and thus believes any form of money must go through the regression theorem in order to become money. In simple terms, that means that money must first be the most widely used commodity that satisfies the properties of money (scarcity, fungibility, durability, unit of account, etc).

What Peter does not see is that what we have witnessed over the last 10+ years with BTC is what that process looks like in real time. Guys like Russell (and you if you are reading this) are the early adopters that create the circumstances described by the regression theorem.

We're still not there yet. BTC isn't money... yet. We're getting close though.

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