The argument for gold is usually that is has intrinsic value since it’s used in electronics etc. For that reason, it would make a lot more sense to stop valuing gold extremely high simply because it’s shiny. It would lead to the products becoming more affordable.

Crazy theory: Could Elon turn DOGE into a tokenised index of his empire? He could announce that DOGE is backed by his fortune and can be redeemed for tokenised (or regular) obligations or shares of his companies. DOGE’s market cap would instantly jump from 13B$ to 200B$ to mirror his net worth. This Would make one DOGE worth about 1.5$. He and his companies would make an insane amount of money, as would every other person or entity who invested in DOGE. He would also basically own the community and could migrate the token itself to any blockchain. Kicker: Space X and Twitter are private and don’t have to report their holdings. This means they could hold a massive bag of DOGE, especially Space X. It would accelerate Mars a lot! Not sure if this would even be legal, would love a lawyers opinion. NFA.

Over time, monopolies form in the digital world. Think of Google for search, Amazon for retail, YouTube for videos… There’ll also be an L1 blockchain to rule them all, that’s not saying there wont be other digital assets, L2s, wallets…

Monopolies don’t exist in the physical world, but do in the digital. That’s because governments can’t rule the digital world since it consists of decentralised protocols that anyone can access on their computer.

Hot take: We'll stop using smartphones before we start using bitcoin.

There's a theory about pioneers and settlers. Pioneers are the ones who pave the path but rarely achieve mass adoption. This has happened throughout history. Neither the Vikings nor Cristopher Columbus settled the Americas, Google is far from the first search engine...

In modern history, the number of authoritarian regimes has decreased while the number of democratic regimes has increased. This is because people are given more freedom by slowly removing centralised control.

The role of government should decrease over time as humans get smarter and more bureaucratic structures can be removed.

Fiat has to be political, it’s backed by the promises of politicians.

If money isn’t hard, democracy can’t exist.

Remember, the federal reserve isn’t federal and there is no reserve!

Communism is simply centralised capitalism. It’s capitalism for the elite, poverty for the rest. Communism is also a very hard disease to cure. Once the capital and power is concentrated, it’s hard to divide it again.

The longer we keep fiat around, the more centralised and polarised the world becomes. Since the fiat standard, wealth gaps have constantly been growing…

The west is good at trashing communism and promoting free market capitalism. This is incredibly hypocritical considering the western markets are hardly free, the centralised monetary and fiscal control makes it, by definition, centrally controlled.

The Keynesian economic model relies entirely on central planning. This requires people to be placed in an unbalanced hierarchy that values economists over everyone else.

People seem to think that the smartphone is somehow the end of the road. Like it’s the final iteration of personal computing platforms.

The most important thing to remember is that a networks value depends on the number of users. Therefore the best thing one can do for a network, is to build great products that bring new people to the network.

Satoshi having a Japanese name is no coincidence. He most likely saw the writing on the wall and understood that Japan is going to be the first major economy to collapse. Ironically they’re also the inventors of QE.

Space is fascinating, so is cyberspace. Both have very different but weirdly similar traits. Cyberspace has traits that makes it the best place for the monetary system. Unlike in space, true scarcity can be created in cyberspace.

Colonisation and oppression does exist. However, it’s not an excuse for a poorly run economy. Every country has been colonised and oppressed at some point in history. It’s all about how free people are to participate in the economy.