๐๐ถ๐๐ฐ๐ผ๐ถ๐ปโ๐ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฎ๐ป ๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐๐ช๐๐ ๐๐ฎ๐๐๐ฒ๐ฟ ๐ง๐ต๐ฎ๐ป ๐ฌ๐ผ๐ ๐ง๐ต๐ถ๐ป๐ธ
๐ ๐ฐ๐ถโ๐ณ๐ฆ ๐ญ๐ช๐ฌ๐ฆ๐ญ๐บ ๐๐๐ง ๐ต๐ฐ๐ฐ ๐ฃ๐ฆ๐ข๐ณ๐ช๐ด๐ฉ.
Hereโs why.๐
Many analysts and enthusiasts attempt to forecast Bitcoin's future price by dividing Bitcoinโs total potential market capitalization โ all the money that will soon flow into Bitcoin โ by its maximum supply of 21 million. However, this method overlooks one crucial factor: ๐๐๐ ๐๐๐ฉ๐ช๐๐ก ๐๐ข๐ค๐ช๐ฃ๐ฉ ๐ค๐ ๐๐๐ฉ๐๐ค๐๐ฃ ๐๐ซ๐๐๐ก๐๐๐ก๐ ๐ค๐ฃ ๐๐ญ๐๐๐๐ฃ๐๐๐จ ๐๐จ ๐๐๐ง ๐ก๐๐จ๐จ ๐ฉ๐๐๐ฃ ๐ฉ๐๐ ๐ฉ๐ค๐ฉ๐๐ก ๐จ๐ช๐ฅ๐ฅ๐ก๐ฎ.
Estimating the exact number of bitcoin on exchanges is challenging, due to the decentralized and often private nature of transactions. But it's clear that the actual figure is a ๐ด๐ฎ๐ข๐ญ๐ญ ๐ง๐ณ๐ข๐ค๐ต๐ช๐ฐ๐ฏ of the total supply. This scarcity, coupled with increasing demand, suggests that current estimations of Bitcoin's future price might be extremely conservative.
The amount of bitcoin available for sale is important because it represents the supply that can be bought at that time, as long as exchanges are honest and arenโt selling paper bitcoin โIOUsโ. ๐ ๐น๐ฎ๐ฟ๐ด๐ฒ ๐ฝ๐ผ๐ฟ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐ ๐ถ๐ ๐ฒ๐ถ๐๐ต๐ฒ๐ฟ ๐น๐ผ๐๐, ๐ต๐ฒ๐น๐ฑ ๐ถ๐ป ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ๐บ ๐๐๐ผ๐ฟ๐ฎ๐ด๐ฒ, ๐ผ๐ฟ ๐ป๐ผ๐ ๐ณ๐ผ๐ฟ ๐๐ฎ๐น๐ฒ ๐ฎ๐ ๐ฎ๐ป๐ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ. This significantly reduces the available supply, and makes any purchase that more effective at moving the price skyward.
Bitcoinโs current location on its adoption curve shows that itโs on its way to becoming a predominant store of value and medium of exchange, free from censorship, debasement, and top-down manipulation. If demand for a money with these qualities continues to grow, and if Bitcoin takes even a ๐ง๐ณ๐ข๐ค๐ต๐ช๐ฐ๐ฏ of the global monetary base, the valuation could reach astronomical figures.
So when considering Bitcoin's future price, ๐ช๐ต'๐ด ๐ฆ๐ด๐ด๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐ต๐ฐ ๐ง๐ฐ๐ค๐ถ๐ด ๐ฐ๐ฏ ๐ต๐ฉ๐ฆ ๐ฆ๐ง๐ง๐ฆ๐ค๐ต๐ช๐ท๐ฆ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ ๐ข๐ท๐ข๐ช๐ญ๐ข๐ฃ๐ญ๐ฆ ๐ฐ๐ฏ ๐ฆ๐น๐ค๐ฉ๐ข๐ฏ๐จ๐ฆ๐ด ๐ณ๐ข๐ต๐ฉ๐ฆ๐ณ ๐ต๐ฉ๐ข๐ฏ ๐ต๐ฉ๐ฆ ๐ต๐ฐ๐ต๐ข๐ญ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ. This approach paints a much more bullish picture of Bitcoin's potential valuation than most people are willing to see, and demonstrates just how early we all are.
Bullish enough for you?๐ Give this a ๐๐ถ๐ธ๐ฒ๐ค and a ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this to look back on later.
Why are ๐บ๐ฐ๐ถ bullish on Bitcoin?
Tell me in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
Many analysts and enthusiasts attempt to forecast Bitcoin's future price by dividing Bitcoinโs total potential market capitalization โ all the money that will soon flow into Bitcoin โ by its maximum supply of 21 million. However, this method overlooks one crucial factor: ๐๐๐ ๐๐๐ฉ๐ช๐๐ก ๐๐ข๐ค๐ช๐ฃ๐ฉ ๐ค๐ ๐๐๐ฉ๐๐ค๐๐ฃ ๐๐ซ๐๐๐ก๐๐๐ก๐ ๐ค๐ฃ ๐๐ญ๐๐๐๐ฃ๐๐๐จ ๐๐จ ๐๐๐ง ๐ก๐๐จ๐จ ๐ฉ๐๐๐ฃ ๐ฉ๐๐ ๐ฉ๐ค๐ฉ๐๐ก ๐จ๐ช๐ฅ๐ฅ๐ก๐ฎ.
Estimating the exact number of bitcoin on exchanges is challenging, due to the decentralized and often private nature of transactions. But it's clear that the actual figure is a ๐ด๐ฎ๐ข๐ญ๐ญ ๐ง๐ณ๐ข๐ค๐ต๐ช๐ฐ๐ฏ of the total supply. This scarcity, coupled with increasing demand, suggests that current estimations of Bitcoin's future price might be extremely conservative.
The amount of bitcoin available for sale is important because it represents the supply that can be bought at that time, as long as exchanges are honest and arenโt selling paper bitcoin โIOUsโ. ๐ ๐น๐ฎ๐ฟ๐ด๐ฒ ๐ฝ๐ผ๐ฟ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐ ๐ถ๐ ๐ฒ๐ถ๐๐ต๐ฒ๐ฟ ๐น๐ผ๐๐, ๐ต๐ฒ๐น๐ฑ ๐ถ๐ป ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ๐บ ๐๐๐ผ๐ฟ๐ฎ๐ด๐ฒ, ๐ผ๐ฟ ๐ป๐ผ๐ ๐ณ๐ผ๐ฟ ๐๐ฎ๐น๐ฒ ๐ฎ๐ ๐ฎ๐ป๐ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ. This significantly reduces the available supply, and makes any purchase that more effective at moving the price skyward.
Bitcoinโs current location on its adoption curve shows that itโs on its way to becoming a predominant store of value and medium of exchange, free from censorship, debasement, and top-down manipulation. If demand for a money with these qualities continues to grow, and if Bitcoin takes even a ๐ง๐ณ๐ข๐ค๐ต๐ช๐ฐ๐ฏ of the global monetary base, the valuation could reach astronomical figures.
So when considering Bitcoin's future price, ๐ช๐ต'๐ด ๐ฆ๐ด๐ด๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐ต๐ฐ ๐ง๐ฐ๐ค๐ถ๐ด ๐ฐ๐ฏ ๐ต๐ฉ๐ฆ ๐ฆ๐ง๐ง๐ฆ๐ค๐ต๐ช๐ท๐ฆ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ ๐ข๐ท๐ข๐ช๐ญ๐ข๐ฃ๐ญ๐ฆ ๐ฐ๐ฏ ๐ฆ๐น๐ค๐ฉ๐ข๐ฏ๐จ๐ฆ๐ด ๐ณ๐ข๐ต๐ฉ๐ฆ๐ณ ๐ต๐ฉ๐ข๐ฏ ๐ต๐ฉ๐ฆ ๐ต๐ฐ๐ต๐ข๐ญ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ. This approach paints a much more bullish picture of Bitcoin's potential valuation than most people are willing to see, and demonstrates just how early we all are.
Bullish enough for you?๐ Give this a ๐๐ถ๐ธ๐ฒ๐ค and a ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this to look back on later.
Why are ๐บ๐ฐ๐ถ bullish on Bitcoin?
Tell me in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
๐ง๐ต๐ฒ ๐ฏ๐ฒ๐๐ ๐๐ฎ๐ ๐๐ผ ๐บ๐ฎ๐ธ๐ฒ ๐บ๐ผ๐ป๐ฒ๐ ๐ถ๐ ๐๐ผ ๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐๐ฎ๐น๐๐ฒ ๐ณ๐ผ๐ฟ ๐ผ๐๐ต๐ฒ๐ฟ๐. Value is subjective, and what is valuable to one may not be valuable to another. However, if you want to make money, ๐บ๐ฐ๐ถ ๐ฏ๐ฆ๐ฆ๐ฅ ๐ต๐ฐ ๐ค๐ณ๐ฆ๐ข๐ต๐ฆ ๐ด๐ฐ๐ฎ๐ฆ๐ต๐ฉ๐ช๐ฏ๐จ ๐ต๐ฉ๐ข๐ต ๐ฑ๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐ธ๐ข๐ฏ๐ต ๐ข๐ฏ๐ฅ ๐ข๐ณ๐ฆ ๐ธ๐ช๐ญ๐ญ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ฑ๐ข๐บ ๐ง๐ฐ๐ณ. This can be a product, a service, or even an idea. The key is to identify what people want and need, and then find a way to provide it to them.
True wealth generation can only come with effort. Bitcoin epitomizes this principle, as new bitcoin can only be initially acquired through the process known as Proof of Work. This exemplifies the truth that ๐ธ๐ฆ๐ข๐ญ๐ต๐ฉ ๐ช๐ด ๐ฃ๐ฆ๐ด๐ต ๐ฆ๐ข๐ณ๐ฏ๐ฆ๐ฅ ๐ต๐ฉ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐จ๐ฆ๐ฏ๐ถ๐ช๐ฏ๐ฆ ๐ธ๐ฐ๐ณ๐ฌ, through your efforts and the utility you provide, not by mere speculation or chance.
Rent-seeking, or the pursuit of wealth without creating value, erodes economic integrity. ๐๐'๐ ๐ฎ๐ป ๐ฎ๐๐๐ฒ๐บ๐ฝ๐ ๐๐ผ ๐ด๐ฎ๐ถ๐ป ๐๐ถ๐๐ต๐ผ๐๐ ๐ฐ๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ป๐ด ๐ฎ๐ป๐๐๐ต๐ถ๐ป๐ด ๐๐ผ ๐ผ๐๐ต๐ฒ๐ฟ๐, a shortcut that undermines the principle of fair exchange in a healthy economy. This leads to moral decay, financial failures, and ultimately (if left unchecked) civilizational collapse.
Common forms of rent-seeking include leveraging oneโs proximity to newly created fiat money, producing post-modern art devoid of effort or beauty, and gambling in various arenas like stock markets, casinos, and crypto grifts. ๐๐ฉ๐ฆ๐ด๐ฆ ๐ข๐ค๐ต๐ช๐ท๐ช๐ต๐ช๐ฆ๐ด ๐ค๐ฐ๐ฏ๐ต๐ณ๐ช๐ฃ๐ถ๐ต๐ฆ ๐ฏ๐ฐ ๐ณ๐ฆ๐ข๐ญ ๐ฆ๐ค๐ฐ๐ฏ๐ฐ๐ฎ๐ช๐ค ๐ท๐ข๐ญ๐ถ๐ฆ, and only leech value from others.
As you work hard, ๐ด๐ข๐ท๐ช๐ฏ๐จ what you earn is also paramount. It fortifies your financial stability, allowing you to harness stored resources when truly needed. ๐ง๐ต๐ถ๐ ๐ฝ๐ฟ๐ฎ๐ฐ๐๐ถ๐ฐ๐ฒ ๐ฒ๐บ๐ฏ๐ผ๐ฑ๐ถ๐ฒ๐ ๐๐ต๐ฒ ๐๐ถ๐ฟ๐๐๐ฒ ๐ผ๐ณ ๐น๐ผ๐ ๐๐ถ๐บ๐ฒ ๐ฝ๐ฟ๐ฒ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ, or delayed gratification, which is essential for building a better world and improving your future.
There are many ways to create value, and the best approach will depend on your skills, interests, and resources. The important thing is to find what you are good at and what people want, and then focus on creating value in that area. ๐ ๐ผ๐ป๐ฒ๐ ๐๐ถ๐น๐น ๐ณ๐ผ๐น๐น๐ผ๐ ๐ถ๐ณ ๐๐ผ๐ ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ฒ ๐ผ๐๐ต๐ฒ๐ฟ๐ ๐๐ถ๐๐ต ๐๐ผ๐บ๐ฒ๐๐ต๐ถ๐ป๐ด ๐ผ๐ณ ๐๐ฎ๐น๐๐ฒ.
Remember to give this a ๐๐ถ๐ธ๐ฒ๐ค and a ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ it for when you might need it later.
And let me know your thoughts in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
Next time you hear someone say that bitcoin is a speculative asset, ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this with them.
Remember to ๐๐ถ๐ธ๐ฒ๐ค and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this, too!
What are some other verifiable qualities of Bitcoin that require no speculation?
Tell me in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
In his first letter to Timothy, chapter 6 verse 10, Paul wrote: "๐๐ฐ๐ณ ๐ต๐ฉ๐ฆ ๐ญ๐ฐ๐ท๐ฆ ๐ฐ๐ง ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ช๐ด ๐ต๐ฉ๐ฆ ๐ณ๐ฐ๐ฐ๐ต ๐ฐ๐ง ๐ข๐ญ๐ญ ๐ฆ๐ท๐ช๐ญ: ๐ธ๐ฉ๐ช๐ค๐ฉ ๐ธ๐ฉ๐ช๐ญ๐ฆ ๐ด๐ฐ๐ฎ๐ฆ ๐ค๐ฐ๐ท๐ฆ๐ต๐ฆ๐ฅ ๐ข๐ง๐ต๐ฆ๐ณ, ๐ต๐ฉ๐ฆ๐บ ๐ฉ๐ข๐ท๐ฆ ๐ฆ๐ณ๐ณ๐ฆ๐ฅ ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ง๐ข๐ช๐ต๐ฉ, ๐ข๐ฏ๐ฅ ๐ฑ๐ช๐ฆ๐ณ๐ค๐ฆ๐ฅ ๐ต๐ฉ๐ฆ๐ฎ๐ด๐ฆ๐ญ๐ท๐ฆ๐ด ๐ต๐ฉ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐ธ๐ช๐ต๐ฉ ๐ฎ๐ข๐ฏ๐บ ๐ด๐ฐ๐ณ๐ณ๐ฐ๐ธ๐ดโ (KJV). This Bible reference discourages many Christians from investigating Bitcoin, which holds them back from adopting this freedom technology.
To say that money ๐ช๐ต๐ด๐ฆ๐ญ๐ง is the root of all evil would be akin to blaming the messenger for the message. And saying that the ๐ญ๐ฐ๐ท๐ฆ of money is the root of all evil is like saying that all evil springs from loving work, your time to be alive, and your ability to choose. ๐ ๐ผ๐ป๐ฒ๐ ๐ถ๐ ๐ฎ๐ป ๐ฎ๐ฏ๐๐๐ฟ๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐บ๐ผ๐๐ ๐ด๐ผ๐ผ๐ฑ ๐๐ต๐ฎ๐ ๐บ๐ฎ๐ป๐ธ๐ถ๐ป๐ฑ ๐ฐ๐ฎ๐ป ๐ฝ๐ฟ๐ผ๐ฑ๐๐ฐ๐ฒ, and is therefore the farthest thing from โevilโ.
Ayn Rand, in her book "Atlas Shrugged," eloquently dissects moneyโs true nature. Money, as she explains, is not the root of evil, but merely a medium for exchanging all kinds of goods. It represents effort, production, and the potential for trade. ๐ ๐ผ๐ป๐ฒ๐, ๐ถ๐ป ๐ถ๐๐๐ฒ๐น๐ณ, ๐ถ๐ ๐ท๐๐๐ ๐ฎ๐ป ๐ผ๐ฏ๐ท๐ฒ๐ฐ๐, ๐ฎ ๐๐ผ๐ผ๐น. It cannot inherently be the root of good or evil; rather, ๐ช๐ต'๐ด ๐ต๐ฉ๐ฆ ๐ฉ๐ถ๐ฎ๐ข๐ฏ ๐ข๐ค๐ต๐ช๐ฐ๐ฏ ๐ข๐ฏ๐ฅ ๐ช๐ฏ๐ต๐ฆ๐ฏ๐ต๐ช๐ฐ๐ฏ ๐ฃ๐ฆ๐ฉ๐ช๐ฏ๐ฅ ๐ช๐ต ๐ต๐ฉ๐ข๐ต ๐ช๐ฎ๐ฑ๐ข๐ณ๐ต๐ด ๐ฎ๐ฐ๐ณ๐ข๐ญ ๐ท๐ข๐ญ๐ถ๐ฆ.
So was Paul wrong? In Paul's time, money itself was fundamentally broken, just like fiat money today. Roman currency, often debased, was a tool for the powerful to manipulate value and control the populace. ๐๐ฏ ๐ต๐ฉ๐ช๐ด ๐ค๐ฐ๐ฏ๐ต๐ฆ๐น๐ต, ๐ต๐ฉ๐ฆ ๐ญ๐ฐ๐ท๐ฆ ๐ฐ๐ง ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ช๐ฏ๐ฅ๐ฆ๐ฆ๐ฅ ๐ฎ๐ช๐ณ๐ณ๐ฐ๐ณ๐ฆ๐ฅ ๐ข ๐ญ๐ฐ๐ท๐ฆ ๐ง๐ฐ๐ณ ๐ฑ๐ฐ๐ธ๐ฆ๐ณ ๐ข๐ฏ๐ฅ ๐ค๐ฐ๐ฏ๐ต๐ณ๐ฐ๐ญ ๐ฐ๐ท๐ฆ๐ณ ๐ฐ๐ต๐ฉ๐ฆ๐ณ๐ด, often leading to corruption and moral decay. Before 2009, there was never a time when this wasnโt the case to some extent, so Paul was ๐ต๐ฆ๐ค๐ฉ๐ฏ๐ช๐ค๐ข๐ญ๐ญ๐บ correct, especially with the money that existed in his day.
The heart of this issue lies in Paulโs next phrase: "๐ธ๐ฉ๐ช๐ค๐ฉ ๐ธ๐ฉ๐ช๐ญ๐ฆ ๐ด๐ฐ๐ฎ๐ฆ ๐ค๐ฐ๐ท๐ฆ๐ต๐ฆ๐ฅ ๐ข๐ง๐ต๐ฆ๐ณ". This coveting of money, or ๐ข๐ฏ ๐ช๐ฏ๐ต๐ฆ๐ฏ๐ด๐ฆ ๐ฅ๐ฆ๐ด๐ช๐ณ๐ฆ ๐ง๐ฐ๐ณ ๐๐๐จ๐ฎ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ, aligns with what economists call โhigh time preferenceโ โ the preference for immediate rewards over greater rewards in the future, at the expense of values, integrity, and long-term welfare. This high time preference leads to shortsighted decisions, unethical behavior, and ultimately to both personal and societal harm.
Contrast this with bitcoin, a modern form of money that embodies the principles of ๐ญ๐ฐ๐ธ time preference. Bitcoin, by its very nature, encourages production over rent-seeking, saving over spending, and long-term planning over short-term gratification. ๐๐'๐ ๐ฎ ๐๐ผ๐ผ๐น ๐ณ๐ผ๐ฟ ๐ฝ๐ฒ๐ฟ๐๐ผ๐ป๐ฎ๐น ๐๐ผ๐๐ฒ๐ฟ๐ฒ๐ถ๐ด๐ป๐๐, ๐ป๐ผ๐ ๐๐ผ๐ฐ๐ถ๐ฒ๐๐ฎ๐น ๐ฐ๐ผ๐ป๐๐ฟ๐ผ๐น. This aligns well with the Austrian economic theory, which advocates for sound money as a foundation for a healthy, ethical, and prosperous society.
Thus, the true root of all evil is not money, but high time preference, or the craving for immediate, unearned wealth. It leads to corruption, moral degradation, and societal decay. ๐ ๐ผ๐ป๐ฒ๐, ๐๐ต๐ฒ๐ป ๐ฟ๐ฒ๐๐ฝ๐ฒ๐ฐ๐๐ฒ๐ฑ ๐ฎ๐ ๐ฎ ๐๐ผ๐ผ๐น ๐ณ๐ผ๐ฟ ๐ณ๐ฎ๐ถ๐ฟ ๐ฒ๐
๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ ๐ฎ๐ป๐ฑ ๐ฎ ๐๐๐ผ๐ฟ๐ฒ ๐ผ๐ณ ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ๐บ ๐๐ฎ๐น๐๐ฒ, ๐ฐ๐ฎ๐ป ๐ฏ๐ฒ ๐ผ๐๐ฟ ๐๐๐ฟ๐ผ๐ป๐ด๐ฒ๐๐ ๐ณ๐ผ๐ฟ๐ฐ๐ฒ ๐ณ๐ผ๐ฟ ๐ด๐ผ๐ผ๐ฑ, driving innovation, productivity, and ethical behavior.
It's crucial to understand money's role as a neutral tool, a facilitator of trade and a measure of value. By embracing sound money principles and rejecting high time preference behavior, ๐๐ฒ ๐ฐ๐ฎ๐ป ๐ณ๐ผ๐๐๐ฒ๐ฟ ๐ฎ ๐๐ผ๐ฐ๐ถ๐ฒ๐๐ ๐๐ต๐ฎ๐ ๐๐ฎ๐น๐๐ฒ๐ ๐ถ๐ป๐๐ฒ๐ด๐ฟ๐ถ๐๐, ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ๐บ ๐ฝ๐ฟ๐ผ๐๐ฝ๐ฒ๐ฟ๐ถ๐๐, ๐ฎ๐ป๐ฑ ๐ฒ๐๐ต๐ถ๐ฐ๐ฎ๐น ๐ฐ๐ผ๐ป๐ฑ๐๐ฐ๐.
Make sure you ๐๐ถ๐ธ๐ฒ๐ค and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this, and spread the word on why neither money โ nor the love of it โ is the root of all evil.
And ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this for when you need it later.
What is your opinion on this Biblical quote and my take on it?
Let me know in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
The implication here that only state-enforced currency is "sound" is amusingly archaic. It implies that money issued by the state is inherently stable and reliable. However, ๐ต๐ถ๐๐๐ผ๐ฟ๐ ๐ถ๐ ๐ฟ๐ถ๐ณ๐ฒ ๐๐ถ๐๐ต ๐ฒ๐
๐ฎ๐บ๐ฝ๐น๐ฒ๐ ๐ผ๐ณ ๐ด๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐ ๐ฐ๐๐ฟ๐ฟ๐ฒ๐ป๐ฐ๐ถ๐ฒ๐ ๐ฐ๐ฟ๐๐บ๐ฏ๐น๐ถ๐ป๐ด ๐๐ป๐ฑ๐ฒ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ถ๐ด๐ต๐ ๐ผ๐ณ ๐บ๐ถ๐๐บ๐ฎ๐ป๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐ฎ๐ป๐ฑ ๐ต๐๐ฝ๐ฒ๐ฟ๐ถ๐ป๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป, brought on by poor incentives.
Bitcoin, unfettered by state control, ๐ฒ๐บ๐ฏ๐ผ๐ฑ๐ถ๐ฒ๐ ๐๐ฟ๐๐ฒ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฎ๐๐๐ผ๐ป๐ผ๐บ๐. Being "rogue" means it's not subject to whimsical monetary policies or political agendas. It's a monetary system that operates on principles of scarcity and decentralized consensus, unlike state currencies prone to excessive printing and devaluation.
In a world witnessing rampant money printing and currency debasement, ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ "๐ฟ๐ผ๐ด๐๐ฒ" ๐๐๐ฎ๐๐๐ ๐ถ๐ ๐ถ๐๐ ๐๐๐ฟ๐ฒ๐ป๐ด๐๐ต. It offers an alternative to the failed legacy system, where the value of money is constantly eroded by inflationary policies. ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ'๐ด ๐ง๐ช๐น๐ฆ๐ฅ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ ๐ข๐ฏ๐ฅ ๐ฅ๐ฆ๐ค๐ฆ๐ฏ๐ต๐ณ๐ข๐ญ๐ช๐ป๐ฆ๐ฅ ๐ฏ๐ข๐ต๐ถ๐ณ๐ฆ ๐ฎ๐ข๐ฌ๐ฆ ๐ช๐ต ๐ด๐ฐ๐ถ๐ฏ๐ฅ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ช๐ฏ ๐ข๐ฏ ๐ถ๐ฏ๐ด๐ฐ๐ถ๐ฏ๐ฅ ๐ธ๐ฐ๐ณ๐ญ๐ฅ.
As the "rouge" Thomas Jefferson likely said: "๐๐ฉ๐ฆ๐ฏ ๐ช๐ฏ๐ซ๐ถ๐ด๐ต๐ช๐ค๐ฆ ๐ฃ๐ฆ๐ค๐ฐ๐ฎ๐ฆ๐ด ๐ญ๐ข๐ธ, ๐ณ๐ฆ๐ด๐ช๐ด๐ต๐ข๐ฏ๐ค๐ฆ ๐ฃ๐ฆ๐ค๐ฐ๐ฎ๐ฆ๐ด ๐ฅ๐ถ๐ต๐บ.โ He is also attributed to saying: "๐๐ง ๐ข ๐ญ๐ข๐ธ ๐ช๐ด ๐ถ๐ฏ๐ซ๐ถ๐ด๐ต, ๐ข ๐ฎ๐ข๐ฏ ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ฐ๐ฏ๐ญ๐บ ๐ณ๐ช๐จ๐ฉ๐ต ๐ต๐ฐ ๐ฅ๐ช๐ด๐ฐ๐ฃ๐ฆ๐บ ๐ช๐ต, ๐ฉ๐ฆ ๐ช๐ด ๐ฐ๐ฃ๐ญ๐ช๐จ๐ข๐ต๐ฆ๐ฅ ๐ต๐ฐ ๐ฅ๐ฐ ๐ด๐ฐ.โ Likewise, another rogue named Henry David Thoreau once said, "๐๐ช๐ด๐ฐ๐ฃ๐ฆ๐ฅ๐ช๐ฆ๐ฏ๐ค๐ฆ ๐ช๐ด ๐ต๐ฉ๐ฆ ๐ต๐ณ๐ถ๐ฆ ๐ง๐ฐ๐ถ๐ฏ๐ฅ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฐ๐ง ๐ญ๐ช๐ฃ๐ฆ๐ณ๐ต๐บ. ๐๐ฉ๐ฆ ๐ฐ๐ฃ๐ฆ๐ฅ๐ช๐ฆ๐ฏ๐ต ๐ฎ๐ถ๐ด๐ต ๐ฃ๐ฆ ๐ด๐ญ๐ข๐ท๐ฆ๐ด.โ And the roguish Martin Luther King, Jr, whose birthday was yesterday, is quoted as saying, "๐๐ฏ๐ฆ ๐ฉ๐ข๐ด ๐ข ๐ฎ๐ฐ๐ณ๐ข๐ญ ๐ณ๐ฆ๐ด๐ฑ๐ฐ๐ฏ๐ด๐ช๐ฃ๐ช๐ญ๐ช๐ต๐บ ๐ต๐ฐ ๐ฅ๐ช๐ด๐ฐ๐ฃ๐ฆ๐บ ๐ถ๐ฏ๐ซ๐ถ๐ด๐ต ๐ญ๐ข๐ธ๐ด.โ This resistance and disobedience โ i.e. going ๐ง๐ค๐๐ช๐ โ is exactly what we need most today.
Therefore, in an era where the so-called "sound money" of states is anything but, ๐ด๐ผ๐ถ๐ป๐ด ๐ฟ๐ผ๐ด๐๐ฒ ๐๐ฒ๐ฒ๐บ๐ ๐๐ต๐ฒ ๐ผ๐ป๐น๐ ๐ฟ๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฐ๐ต๐ผ๐ถ๐ฐ๐ฒ. Bitcoin, with its immutable rules and decentralized governance, stands as a bastion of monetary sanity in a world of fiscal chaos.
George Orwell, a rogue if there ever was one!
Be sure to ๐๐ถ๐ธ๐ฒ๐ค and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this so more people can learn why Bitcoin is rogue money.
And ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this for quick reference later!
How else is Bitcoin rogue money?
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Bitcoin's scarcity is defined by its fixed supply of exactly 2,099,999,997,690,000 sats, ๐ฏ๐ฐ๐ต ๐ฃ๐บ ๐ฉ๐ฐ๐ธ ๐ช๐ต'๐ด ๐ฅ๐ช๐ท๐ช๐ฅ๐ฆ๐ฅ. Dividing sats into smaller units doesn't increase their total number any more than splitting a gold bar into smaller pieces creates more gold.
๐ ๐ฎ๐๐ต๐ฒ๐บ๐ฎ๐๐ถ๐ฐ๐ฎ๐น๐น๐, ๐๐ต๐ฒ ๐๐ผ๐๐ฎ๐น ๐พ๐๐ฎ๐ป๐๐ถ๐๐ ๐ผ๐ณ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ฟ๐ฒ๐บ๐ฎ๐ถ๐ป๐ ๐ฐ๐ผ๐ป๐๐๐ฎ๐ป๐, regardless of division in second layers. 2,099,999,997,690,000 sats are equal to 2,099,999,997,690,000,000 millisats, 2,099,999,997,690,000,000,000 microsats, and 2,099,999,997,690,000,000,000,000 nanosats. Each number may appear bigger than the last, but their denominations are proportionally smaller, which means theyโre truly equal in amount.
Thus, bitcoin maintains its value and scarcity, regardless of how it's divided or used on second layers. Its fixed supply is a core feature, unaffected by transactional divisions.
Give this a ๐๐ถ๐ธ๐ฒ๐ค, and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this with anyone who still spreads this FUD.
Someone will certainly bring this up again, so be sure to ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this for when they do!
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Hal Finney was among the first to recognize Bitcoin's potential, responding to Satoshi's initial email and engaging with the development of this new technology. His early testing and feedback were crucial, ๐ต๐ฒ๐น๐ฝ๐ถ๐ป๐ด ๐๐ผ ๐๐ต๐ฎ๐ฝ๐ฒ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐ป๐๐ผ ๐๐ต๐ฒ ๐ฟ๐ผ๐ฏ๐๐๐ ๐บ๐ผ๐ป๐ฒ๐๐ฎ๐ฟ๐ ๐ป๐ฒ๐๐๐ผ๐ฟ๐ธ ๐ถ๐ ๐ถ๐ ๐๐ผ๐ฑ๐ฎ๐.
Beyond Bitcoin, Finney was a renowned cypherpunk, advocating for ๐ด๐ต๐ณ๐ฐ๐ฏ๐จ ๐ฆ๐ฏ๐ค๐ณ๐บ๐ฑ๐ต๐ช๐ฐ๐ฏ and ๐ฑ๐ณ๐ช๐ท๐ข๐ค๐บ-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ช๐ฏ๐จ ๐ต๐ฆ๐ค๐ฉ๐ฏ๐ฐ๐ญ๐ฐ๐จ๐ช๐ฆ๐ด. His belief in cryptography as a tool for social change laid the groundwork for Bitcoin's philosophical underpinnings.
Hal Finney's role in Bitcoin's history is undeniable. As the recipient of the first transaction, he became the first proof that Bitcoin worked, ๐๐๐ฟ๐ป๐ถ๐ป๐ด ๐ฉ๐๐๐ค๐ง๐ฎ ๐ถ๐ป๐๐ผ ๐ง๐๐๐ก๐๐ฉ๐ฎ.
As we remember Hal Finney today, let's honor his vision, contributions, and unwavering belief in a system that promotes ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ด๐ฐ๐ท๐ฆ๐ณ๐ฆ๐ช๐จ๐ฏ๐ต๐บ and ๐ฑ๐ณ๐ช๐ท๐ข๐ค๐บ. His spirit lives on with every Bitcoin transaction, guiding us towards the bright orange future that he helped build.
Remember to ๐๐ถ๐ธ๐ฒ๐ค, ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this to commemorate the 15th anniversary of Bitcoinโs first transaction.
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We just passed a significant milestone in Bitcoin's journey towards global adoption: ๐ง๐ต๐ฒ ๐ณ๐ถ๐ฟ๐๐ ๐ญ๐ญ ๐๐ฝ๐ผ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ง๐๐ ๐ต๐ฎ๐๐ฒ ๐ฏ๐ฒ๐ฒ๐ป ๐ฎ๐ฝ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ, ushering in a new era of accessibility and recognition for the worldโs soundest money.
This momentous occasion is more than just an administrative victory. It's a testament to Bitcoin's unwavering resilience and ๐ต๐ฉ๐ฆ ๐จ๐ณ๐ฐ๐ธ๐ช๐ฏ๐จ ๐ข๐ค๐ฌ๐ฏ๐ฐ๐ธ๐ญ๐ฆ๐ฅ๐จ๐ฎ๐ฆ๐ฏ๐ต ๐ฐ๐ง ๐ช๐ต๐ด ๐ณ๐ฐ๐ญ๐ฆ ๐ข๐ด ๐ข ๐ด๐ฐ๐ท๐ฆ๐ณ๐ฆ๐ช๐จ๐ฏ ๐ข๐ด๐ด๐ฆ๐ต in the global financial landscape.
As we step into this new chapter, it's crucial to remember the fundamentals that got us here. Bitcoin's ๐ฑ๐ฒ๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐น๐ถ๐๐ฒ๐ฑ ๐ป๐ฎ๐๐๐ฟ๐ฒ, ๐ณ๐ถ๐
๐ฒ๐ฑ ๐๐๐ฝ๐ฝ๐น๐, and ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐๐ผ ๐ฝ๐ฟ๐ผ๐๐ถ๐ฑ๐ฒ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ผ๐๐ฒ๐ฟ๐ฒ๐ถ๐ด๐ป๐๐ remain at its core.
This new era brings with it the potential for more institutional money flowing into Bitcoin. While this will undoubtedly bolster its legitimacy for some and its price for all, ๐ณ๐ฆ๐ฎ๐ฆ๐ฎ๐ฃ๐ฆ๐ณ ๐ต๐ฉ๐ฆ ๐ท๐ข๐ญ๐ถ๐ฆ ๐ฐ๐ง ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏโ๐ด ๐ช๐ฎ๐ฎ๐ถ๐ต๐ข๐ฃ๐ช๐ญ๐ช๐ต๐บ, ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐ฑ๐ฐ๐ธ๐ฆ๐ณ ๐ฐ๐ง ๐ฉ๐ฐ๐ญ๐ฅ๐ช๐ฏ๐จ ๐บ๐ฐ๐ถ๐ณ ๐ฐ๐ธ๐ฏ ๐ฌ๐ฆ๐บ๐ด.
For new entrants lured by the ETF, ๐ฆ๐ฅ๐ถ๐ค๐ข๐ต๐ช๐ฐ๐ฏ ๐ช๐ด ๐ท๐ช๐ต๐ข๐ญ. Understanding what Bitcoin is and why it matters goes far beyond its price or its role as merely an investment vehicle. ๐๐'๐ ๐ฎ๐ฏ๐ผ๐๐ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ณ๐ฟ๐ฒ๐ฒ๐ฑ๐ผ๐บ, ๐ฎ๐ป๐ฑ ๐ฎ ๐๐ฎ๐ ๐๐ผ ๐ผ๐ฝ๐-๐ผ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ถ๐ป๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐ฟ๐ ๐ฒ๐ณ๐ณ๐ฒ๐ฐ๐๐ ๐ผ๐ณ ๐บ๐ผ๐ป๐ฒ๐ ๐ฝ๐ฟ๐ถ๐ป๐๐ถ๐ป๐ด.
To long-time hodlers, this approval isn't a signal to relax, but to reinforce your commitment to the principles of ๐๐ผ๐๐ป๐ฑ ๐บ๐ผ๐ป๐ฒ๐ and ๐ฒ๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐น๐ถ๐ฏ๐ฒ๐ฟ๐๐. Your pioneering spirit has led to this moment, and ๐ค๐ฐ๐ฏ๐ต๐ช๐ฏ๐ถ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ด๐ต๐ข๐ฏ๐ฅ ๐ง๐ช๐ณ๐ฎ ๐ธ๐ช๐ญ๐ญ ๐ฃ๐ณ๐ช๐ฏ๐จ ๐ฎ๐ถ๐ค๐ฉ ๐จ๐ณ๐ฆ๐ข๐ต๐ฆ๐ณ ๐ท๐ช๐ค๐ต๐ฐ๐ณ๐ช๐ฆ๐ด.
Let's continue to move forward as stewards of this revolutionary technology, ensuring that the spirit of Satoshi Nakamoto remains alive in every transaction, every block, and every discussion about the future of money.
As we begin this new chapter, donโt just ๐ธ๐ข๐ต๐ค๐ฉ the future unfold; ๐ฝ๐๐ ๐ถ๐ป ๐๐ต๐ฒ ๐๐ผ๐ฟ๐ธ ๐๐ผ ๐ฏ๐๐ถ๐น๐ฑ ๐ถ๐, ๐ผ๐ป๐ฒ ๐ฏ๐น๐ผ๐ฐ๐ธ ๐ฎ๐ ๐ฎ ๐๐ถ๐บ๐ฒ.
๐๐ถ๐ธ๐ฒ๐ค and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this so others can gain this perspective on the Bitcoin ETFs, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ it for future reference.
And remember to share your thoughts on this new development in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
This was the ๐ง๐ช๐ณ๐ด๐ต time that #Bitcoin would be mentioned on Twitter, shortly after Hal started running the Bitcoin protocol on his computer. He was the first person to do so, other than Satoshi Nakamoto.
And no, itโs ๐ท๐ฆ๐ณ๐บ unlikely that Hal Finney was Satoshi Nakamoto. Recently, evidence has come to light in the form of a timestamped email conversation between Satoshi and Mike Hearn, which show they were sent ๐๐ต๐ถ๐น๐ฒ ๐๐ฎ๐น ๐๐ฎ๐ ๐ฟ๐๐ป๐ป๐ถ๐ป๐ด ๐ฎ ๐ญ๐ฌ ๐บ๐ถ๐น๐ฒ ๐ฟ๐ฎ๐ฐ๐ฒ.
This, along with Halโs repeated denials of being Satoshi, his reputation for ๐ต๐ผ๐ป๐ฒ๐๐๐ ๐ฎ๐ป๐ฑ ๐๐ถ๐ป๐ฐ๐ฒ๐ฟ๐ถ๐๐, and his coding style being *notably different* from Satoshiโs, make it ๐ฝ๐ฟ๐ฎ๐ฐ๐๐ถ๐ฐ๐ฎ๐น๐น๐ ๐ถ๐บ๐ฝ๐ผ๐๐๐ถ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐๐ฎ๐น ๐๐ถ๐ป๐ป๐ฒ๐ ๐๐ผ ๐ต๐ฎ๐๐ฒ ๐ฏ๐ฒ๐ฒ๐ป ๐ฆ๐ฎ๐๐ผ๐๐ต๐ถ.
Today, untold thousands are running Bitcoin on their personal computers, just like Hal. ๐๐ฉ๐ช๐ด ๐ง๐ถ๐ณ๐ต๐ฉ๐ฆ๐ณ ๐ฅ๐ฆ๐ค๐ฆ๐ฏ๐ต๐ณ๐ข๐ญ๐ช๐ป๐ฆ๐ด ๐ต๐ฉ๐ฆ ๐ฏ๐ฆ๐ต๐ธ๐ฐ๐ณ๐ฌ, and improves the robustness of a money that enables individual empowerment for all who use it.
๐ง๐ต๐ฎ๐ป๐ธ ๐๐ผ๐, ๐๐ฎ๐น, ๐ณ๐ผ๐ฟ ๐ฟ๐๐ป๐ป๐ถ๐ป๐ด ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป. Had you not chosen to assist Satoshi Nakamoto when no one else would, we may not be where we are today.๐งก


The Mercury Layer is a relatively new system designed to streamline Bitcoin transactions, making them faster and more cost-effective. Functioning as a 'second layer' over Bitcoin's base layer, it offers a way to transfer bitcoin ๐ธ๐ช๐ต๐ฉ๐ฐ๐ถ๐ต ๐ต๐ฉ๐ฆ ๐ถ๐ด๐ถ๐ข๐ญ ๐ค๐ฐ๐ฏ๐ง๐ช๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ต๐ช๐ฎ๐ฆ๐ด ๐ฐ๐ณ ๐ง๐ฆ๐ฆ๐ด, much like other layer 2 protocols like Lightning, Liquid, and ARK.
When you transact in Bitcoin, you're essentially exchanging digital units of bitcoin called UTXOs (Unspent Transaction Outputs). Think of a UTXO as a digital version of cash, except it can be any amount, and not limited to 1s, 5s, 10s, etc. ๐ง๐ต๐ฒ ๐ ๐ฒ๐ฟ๐ฐ๐๐ฟ๐ ๐๐ฎ๐๐ฒ๐ฟ ๐ฒ๐ป๐ฎ๐ฏ๐น๐ฒ๐ ๐๐ผ๐ ๐๐ผ ๐๐ฟ๐ฎ๐ป๐๐ณ๐ฒ๐ฟ ๐๐ต๐ฒ๐๐ฒ ๐จ๐ง๐ซ๐ข๐ ๐ฑ๐ถ๐ฟ๐ฒ๐ฐ๐๐น๐, akin to handing cash to a friend, without recording every transaction on Bitcoin's timechain.
What makes Mercury stand out is its method for changing ownership of UTXOs. It cleverly uses divided parts of a digital key, akin to a shared secret. This key is essential for a user to prove their ownership of the UTXO. By altering parts of this key, ๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐๐ฟ๐ฎ๐ป๐๐ณ๐ฒ๐ฟ ๐ผ๐๐ป๐ฒ๐ฟ๐๐ต๐ถ๐ฝ ๐๐บ๐ผ๐ผ๐๐ต๐น๐, avoiding the need to broadcast the transaction to the world.
Mercury also incorporates backup transactions as a safety net. These act like emergency measures, allowing you to reclaim your Bitcoin, ๐ฒ๐๐ฒ๐ป ๐ถ๐ณ ๐๐ต๐ฒ ๐ฆ๐๐ฎ๐๐ฒ๐ฐ๐ต๐ฎ๐ถ๐ป ๐๐ป๐๐ถ๐๐, ๐ผ๐ฟ ๐ฆ๐, ๐ฑ๐ผ๐ฒ๐ ๐ป๐ผ๐ ๐ฐ๐ผ๐ผ๐ฝ๐ฒ๐ฟ๐ฎ๐๐ฒ. This system ensures that only the current owner can use these backup measures, thereby preventing any fraudulent claims to your bitcoin.
The process of using Mercury begins with an on-chain transaction of sending your UTXO to an address where ๐ฃ๐ฐ๐ต๐ฉ ๐บ๐ฐ๐ถ ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐๐ have shared private key control. When transferring your UTXOs within the system, Mercury updates the secret key. Each time it's transferred, an updated emergency plan is created for the new owner.
Mercury ensures transaction integrity by counting how many times it assists in transfers. However, it does not delve into transaction details, ๐๐ต๐๐ ๐บ๐ฎ๐ถ๐ป๐๐ฎ๐ถ๐ป๐ถ๐ป๐ด ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ถ๐๐ฎ๐ฐ๐ ๐๐ต๐ถ๐น๐ฒ ๐๐๐ถ๐น๐น ๐๐ฒ๐ฟ๐ถ๐ณ๐๐ถ๐ป๐ด ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐น๐ฒ๐ด๐ถ๐๐ถ๐บ๐ฎ๐ฐ๐.
When you're ready to exit Mercury back to Bitcoinโs base layer, you can close your transaction at will, finalizing it on Bitcoin's timechain. This closure ๐ฆ๐ฏ๐ด๐ถ๐ณ๐ฆ๐ด ๐ต๐ฉ๐ข๐ต ๐ต๐ฉ๐ฆ ๐๐๐๐ ๐ค๐ข๐ฏ'๐ต ๐ฃ๐ฆ ๐ค๐ช๐ณ๐ค๐ถ๐ญ๐ข๐ต๐ฆ๐ฅ ๐ธ๐ช๐ต๐ฉ๐ช๐ฏ ๐๐ฆ๐ณ๐ค๐ถ๐ณ๐บ ๐ข๐จ๐ข๐ช๐ฏ, keeping the process orderly and secure.
However, ๐ฒ๐๐ฒ๐ฟ๐๐๐ต๐ถ๐ป๐ด ๐ฐ๐ผ๐บ๐ฒ๐ ๐๐ถ๐๐ต ๐๐ฟ๐ฎ๐ฑ๐ฒ๐ผ๐ณ๐ณ๐, so it should be noted that Mercury requires ๐ด๐ฐ๐ฎ๐ฆ trust in the systemโs main coordinators, the Statechain Entities. While ๐๐๐ด ๐ค๐ข๐ฏ'๐ต ๐ฎ๐ฐ๐ท๐ฆ ๐ง๐ถ๐ฏ๐ฅ๐ด ๐ฐ๐ฏ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ฐ๐ธ๐ฏ, their role is crucial, and their security and integrity are paramount.
Another tradeoff is ๐๐ต๐ฒ ๐ฟ๐ถ๐๐ธ ๐ผ๐ณ ๐ป๐ฒ๐๐๐ผ๐ฟ๐ธ ๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐น๐ถ๐๐ฎ๐๐ถ๐ผ๐ป. If a few SEs begin to dominate the Mercury system, it could centralize a significant portion of transaction facilitation. This would diverge from Bitcoin's decentralized ethos, so ๐ช๐ตโ๐ด ๐ช๐ฎ๐ฑ๐ฆ๐ณ๐ข๐ต๐ช๐ท๐ฆ ๐ต๐ฉ๐ฆ๐ณ๐ฆ ๐ฃ๐ฆ ๐ข๐ด ๐ฎ๐ข๐ฏ๐บ ๐๐๐ด ๐ข๐ด ๐ฑ๐ฐ๐ด๐ด๐ช๐ฃ๐ญ๐ฆ.
The Mercury Layer introduces simplicity and enhanced security to Bitcoin transactions. It makes transferring bitcoin ๐ข๐ด ๐ฆ๐ข๐ด๐บ ๐ข๐ด ๐ฆ๐น๐ค๐ฉ๐ข๐ฏ๐จ๐ช๐ฏ๐จ ๐ค๐ข๐ด๐ฉ, as long as concerns around trust, privacy, and centralization are mitigated. Mercury highlights Bitcoin's ongoing evolution, and is a further reminder that we're all still very, ๐ท๐ฆ๐ณ๐บ early.
Remember to ๐๐ถ๐ธ๐ฒ๐ค, ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this for later.
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The much-anticipated approval of a Bitcoin ETF heralds a new era for Bitcoin. ๐ง๐ต๐ถ๐ ๐ถ๐ ๐ฝ๐ผ๐ถ๐๐ฒ๐ฑ ๐๐ผ ๐๐๐ต๐ฒ๐ฟ ๐ถ๐ป ๐ฎ ๐๐ฎ๐๐ฒ ๐ผ๐ณ ๐ถ๐ป๐๐๐ถ๐๐๐๐ถ๐ผ๐ป๐ฎ๐น ๐บ๐ผ๐ป๐ฒ๐, as regulated access points make Bitcoin an irresistible addition to portfolios. This shift promises to inject ๐ฃ๐ช๐ญ๐ญ๐ช๐ฐ๐ฏ๐ด into the market, fundamentally altering the Bitcoin landscape.
With this approval, Bitcoin's legitimacy in the eyes of the legacy system will skyrocket.๐ A nod from a major financial regulator will not only boost investor confidence, but ๐ฎ๐น๐๐ผ ๐ฏ๐ฟ๐ผ๐ฎ๐ฑ๐ฒ๐ป๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐ฎ๐ฝ๐ฝ๐ฒ๐ฎ๐น ๐ณ๐ผ๐ฟ ๐๐ต๐ผ๐๐ฒ ๐๐ต๐ผ ๐ฑ๐ผ๐ปโ๐ ๐๐ฒ๐ ๐๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ ๐ถ๐๐ ๐๐ฎ๐น๐๐ฒ ๐ฝ๐ฟ๐ผ๐ฝ๐ผ๐๐ถ๐๐ถ๐ผ๐ป. As Bitcoin is woven into the mainstream consciousness, ๐ฒ๐
๐ฝ๐ฒ๐ฐ๐ ๐ฎ ๐๐๐ฟ๐ด๐ฒ ๐ถ๐ป ๐ฟ๐ฒ๐น๐ฎ๐๐ฒ๐ฑ ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒ๐ ๐ฎ๐ป๐ฑ ๐ฎ๐ฝ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป๐, further entrenching Bitcoin in our financial fabric.
However, this new dawn is not without its tremors. ๐ง๐ต๐ฒ ๐ฒ๐ป๐๐ฟ๐ ๐ผ๐ณ ๐๐ถ๐ด๐ป๐ถ๐ณ๐ถ๐ฐ๐ฎ๐ป๐ ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น ๐ถ๐ ๐น๐ถ๐ธ๐ฒ๐น๐ ๐๐ผ ๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐ฎ ๐บ๐ฎ๐ท๐ผ๐ฟ ๐๐ฝ๐น๐ฎ๐๐ต ๐ถ๐ป ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ๐, potentially leading to short-term volatility. Markets historically react to ETF news with vigor, and actual approval might send waves through the price charts.
Simultaneously, Bitcoin's growing entanglement with traditional finance attracts regulatory eyes. A more regulated Bitcoin might appear at first glance to clash with its original unregulated and decentralized ethos. But itโs important to remember that ๐ป๐ผ ๐ฎ๐บ๐ผ๐๐ป๐ ๐ผ๐ณ ๐ฒ๐
๐๐ฒ๐ฟ๐ป๐ฎ๐น ๐ฟ๐ฒ๐ด๐๐น๐ฎ๐๐ถ๐ผ๐ป ๐ฐ๐ฎ๐ป ๐ฎ๐น๐๐ฒ๐ฟ ๐๐ต๐ฎ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐, ๐ต๐ผ๐ ๐ถ๐ ๐๐ผ๐ฟ๐ธ๐, ๐ผ๐ฟ ๐๐ต๐ฎ๐ ๐ถ๐ ๐ฐ๐ฎ๐ป ๐ฑ๐ผ ๐ณ๐ผ๐ฟ ๐ถ๐๐ ๐๐๐ฒ๐ฟ๐.
Traditional financial services, ๐ฑ๐ข๐ณ๐ต๐ช๐ค๐ถ๐ญ๐ข๐ณ๐ญ๐บ ๐ต๐ฉ๐ฐ๐ด๐ฆ ๐ช๐ฏ๐ท๐ฐ๐ญ๐ท๐ฆ๐ฅ ๐ช๐ฏ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ต๐ณ๐ข๐ฏ๐ด๐ง๐ฆ๐ณ๐ด, will likely feel the heat. As Bitcoin becomes more accessible, it offers a compelling alternative to services like Western Union and MoneyGram, threatening their dominance with its efficiency and lower costs.
In conclusion, a Bitcoin ETF is not just an investment vehicle; ๐ถ๐'๐ ๐๐ต๐ฒ ๐ฑ๐ฎ๐๐ป ๐ผ๐ณ ๐ฎ ๐ป๐ฒ๐ ๐ฑ๐ฎ๐ ๐ณ๐ผ๐ฟ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป. It's set to reshape investment portfolios, regulatory landscapes, and the very fabric of financial services, marking a significant milestone in our journey towards hyperbitcoinization.
Give this a ๐๐ถ๐ธ๐ฒ๐ค, a ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐, and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ it for later.
What else should we expect to change after the ETF approval?
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Some are saying that owning a #Bitcoin ETF equates to owning actual Bitcoin, but this is misleading at best. While it's true ETFs are ๐ญ๐ช๐ฏ๐ฌ๐ฆ๐ฅ to the underlying asset, the investor does not possess the actual bitcoin or their private keys. ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ผ๐๐ป๐ฒ๐ฟ๐๐ต๐ถ๐ฝ ๐ถ๐ ๐ณ๐๐ป๐ฑ๐ฎ๐บ๐ฒ๐ป๐๐ฎ๐น๐น๐ ๐ฑ๐ฒ๐ณ๐ถ๐ป๐ฒ๐ฑ ๐ฏ๐ ๐๐ต๐ฒ ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐๐ผ ๐ฐ๐ผ๐ป๐๐ฟ๐ผ๐น ๐ถ๐ ๐๐ถ๐ฎ ๐ฝ๐ฟ๐ถ๐๐ฎ๐๐ฒ ๐ธ๐ฒ๐๐.
ETFs provide exposure to Bitcoin's price movements, but not the asset itself. This structure suits those preferring indirect investment, but ๐ถ๐ ๐น๐ฎ๐ฐ๐ธ๐ ๐๐ต๐ฒ ๐ฎ๐๐๐ผ๐ป๐ผ๐บ๐, ๐๐ฒ๐ฐ๐๐ฟ๐ถ๐๐, ๐ฎ๐ป๐ฑ ๐ฝ๐ผ๐๐ฒ๐ป๐๐ถ๐ฎ๐น ๐ผ๐ณ ๐ต๐ผ๐น๐ฑ๐ถ๐ป๐ด ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ฑ๐ถ๐ฟ๐ฒ๐ฐ๐๐น๐. It's a trade-off between ๐ค๐ฐ๐ฏ๐ท๐ฆ๐ฏ๐ช๐ฆ๐ฏ๐ค๐ฆ and ๐ต๐ฉ๐ฆ ๐ค๐ฐ๐ณ๐ฆ ๐ฑ๐ณ๐ช๐ฏ๐ค๐ช๐ฑ๐ญ๐ฆ๐ด of Bitcoin ownership.
Itโs argued by some that ETFs offer โdepository receiptsโ for Bitcoin, but this drastically oversimplifies the relationship. The ๐ค๐ถ๐ด๐ต๐ฐ๐ฅ๐ช๐ข๐ฏ holds the Bitcoin, not the investor. This setup ๐ถ๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐ฒ๐ ๐น๐ฎ๐๐ฒ๐ฟ๐ ๐ผ๐ณ ๐ฟ๐ถ๐๐ธ, including counterparty and regulatory risks, which are absent in direct Bitcoin ownership.
The essence of Bitcoin's value proposition is in its decentralization and resistance to censorship, which ๐ถ๐ ๐ผ๐ป๐น๐ ๐ด๐๐ฎ๐ฟ๐ฎ๐ป๐๐ฒ๐ฒ๐ฑ ๐๐ต๐ฟ๐ผ๐๐ด๐ต ๐ฑ๐ถ๐ฟ๐ฒ๐ฐ๐ ๐ฝ๐ผ๐๐๐ฒ๐๐๐ถ๐ผ๐ป. Holding an ETF strips away these fundamental benefits, leaving investors with a ๐ฅ๐ช๐ญ๐ถ๐ต๐ฆ๐ฅ version of Bitcoin's revolutionary potential.
Remember to ๐๐ถ๐ธ๐ฒ๐ค and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this so more people can be reminded to hold their own private keys, not an ETF.
And ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ it so you can share it with anyone who thinks owning a Bitcoin ETF is the same as owning Bitcoin itself.