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Taking Care of Bitcoin
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Taking Care of Bitcoin Podcast
Government, in a fiat system, must grow forever by design. As the government expands, it does so at the expense of the private sector. Let this system run over time, it inevitably leads to totalitarianism. We must rewire the math.
Bitcoin is becoming geopolitical gunpowder right in front of our eyes. It's "Join, or Die" time. USA LFG πŸ‡ΊπŸ‡Έ
For decades, we have compared the dollar against other fiat currencies. It was always the least dishonest amongst dishonest monies. It was the "cleanest dirty shirt," as they say. Enter Bitcoin Absolutely scarce, honest money A clean shirt The game has changed
Many people on earth never had a landline phone, they jumped the shark straight to the cellphone. In similar fashion, some countries with failing currencies will collapse into the dollar, but as soon as Bitcoin is large enough, most will jump the shark straight into Bitcoin.
We knew the game theory would come for individuals. We knew it would come for corporations. We knew it would come for financial managers. We knew it would come for sovereign wealth funds and nation states. But, let's be honest, did we see it coming this soon?
Bitcoin is about to teach the whole world a lesson of absolute scarcity. I applaud all y'all for getting to class early. πŸ‘
Bitcoin is always seeking equilibrium Price Hash power Fees Difficulty ... Bitcoin is an elegant equilibrium seeking machine
The government shouldn't control the size of the money supply. The money supply should control the size of the government. πŸ‡ΊπŸ‡Έ
We've kicked the debt crisis up the stack from the banking level to the sovereign level. "Too big to fail" has become "Too big to bailout." Prepare yourself for the reset.
The incentives are undeniable. The choice is simple. Individuals Corporations Financial managers Pension funds Endowments Sovereign wealth funds Central banks Nation states Join, or die image
If anything is "transitory," it's this tiny dip in the M2 money supply. If anything is going "higher for longer," it's the M2 money supply. image
"Government has no other end, but the preservation of property." ~John Locke Inflationary currency is a direct assault on private property. Government is derelict of this duty. We all deserve better.
Inflation disincentivizes saving. Without savings, there is no capital accumulation. Without capital accumulation, there is no prosperity. Bitcoin realigns these incentives. Saving is possible. Capital accumulation is possible. Prosperity is possible.
Banks are illiquid at best and insolvent at worst. They do not have your money. If they fail, you lose everything. If they get bailed out, you get debased. Opt out of the ponzi.
Isn't it ironic... Just when we're at the precipice of issuing unprecedented amounts of government debt, a superior risk-off asset is born. Bonds are dead. They just don't know it yet. Bitcoin is the savior. They just don't know it...yet.
Occupy Wall Street Tea Party These were the same movement. One side blamed big banks. One side blamed big government. Both were correct. This system is a collaborative kleptocracy between Wall Street and the Government, facilitated by the Federal Reserve, to enrich the top 1%.
The Triffin dilemma A country's status as a reserve currency leads to a perpetual trade deficit. America has hollowed out our industrial base. We export nothing but inflation to provide the world with dollars. Tariffs are an attempt to treat the symptom, not the cause.
Bitcoin vs Real Estate... Real Estate: Requires large down payment Closing costs Management Upkeep Property taxes Illiquid Immobile Bitcoin: All the store of value proposition, none of the friction. No barriers to entry No management or upkeep No property tax Liquid Mobile
Once you see Bitcoin, you can't unsee Bitcoin. And more people are seeing Bitcoin every day.
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