U.S. stock markets once traded in eighths of a dollar. It took until 2001 for them to switch to pricing stocks in dollars and cents. Traditions die hard. Financial systems change slowly. Bitcoin will be no different.

Hardware wallet designers need to start thinking about putting everything into a solid resin - potting or encapsulation. That would make tampering with it much more difficult - it'd have to take place at the fabrication stage - so it'd be a much smaller security footprint.

This hardware wallet tampering scandal should make everyone very careful about who they're buying their devices from. Maybe we need to stop buying these types of devices from digital marketplaces, or from online resellers, or from brick and mortar resellers. Lower the risk.

A generation ago, banks paid you interest on the money they held for you. Today, banks often pay you next to nothing—or charge you fees for doing it. Even with their extraordinary privilege of creating money from nothing. Bitcoin never charges to hold your money.

In the 1990s Mexico removed 3 zeros from its currency. Inflation took prices from single digits to thousands of pesos in a period of about 15 years. The gov made 1,000 old pesos 1 new peso so that the numbers looked normal again. But the peso's purchasing power never returned.

Before 1971, governments had a harder time spending beyond their means. Wars & foreign aid meant raising taxes, borrowing, or finding the money. Then Nixon closed the gold window. The monetary constraint was gone. Now, they can spend first—and send the bill to future taxpayers

Does a better combination exist?

One of the most candid things ever said by a Federal Reserve chairman: “We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.” — Alan Greenspan, 2005 Page 22 of the Congressional Record: govinfo.gov/content/pkg/CHRG…

Money is your work and your time, stored for later. You're trading it for something that you can use tomorrow. Why store it in something that can be created without limit by someone else?

A lot of people will tell you Bitcoin is volatile. But that's comparing it to the dollar, so they're using the dollar as the measuring stick. What happens when you start using Bitcoin as the measuring stick? The question of which one is “volatile” gets a lot more interesting.

Which BBC do you trust?