₿itcoin Umuttur⚡⚡'s avatar
₿itcoin Umuttur⚡⚡
ukarakaya@iris.to
npub1magv...uf6h
☀️ ∞/21M ₿itcoin - Get money, buy ₿itcoin/ Not sell ₿itcoin/ The ₿itcoin Standard/ ₿itcoiner/ ₿itcoin Only / DYOR/YTD/ https://mempool.space / HODL #Bitcoin / #nostr / #zap https://bitcoin.org https://bitcoinknots.org ACCELERATE HYPERBITCOINIZATION ⚡Stack Friends Who Stack Sats⚡
A centralized financial system means that even if you don't do anything wrong, you'll be impacted by the decisions of other people For example, the Great Financial Crisis (GFC) of 2007-2009 happened because banks had lent money to people who couldn't afford to pay it back This decision led to a recession that impacted every single person in the world Centralization means that there's a single point of failure, and when there's a single point of failure, the entire system becomes a house of cards For example, the single point of failure in the GFC was Lehman Brothers Lehman Brothers borrowed hundreds of billions of dollars to speculate on mortgage-backed securities, which are debts that are backed by mortgage payments The entire financial system was expecting that house prices will continue to go up forever so mortgage backed securities will keep generating cash flows forever But of course this wasn't the case, because a lot of the people who borrowed money to buy homes couldn't actually pay it back Financial institutions were lending to LB because they thought of the interest payments as guaranteed income Their assumptions turned out to be incorrect, mortgage-backed securities failed, banks that lent to LB to buy MBSs weren't paid back, and this led to a ripple effect that hurt EVERYONE in the world The US government and Federal Reserve had to step in to avoid a total collapse #Bitcoin fixes this by being a decentralized financial system with no single point of failure
SAIFEDEAN AMMOUS: "American houses did not magically become ~6x more valuable. American money became ~6x less valuable."
If the US government (the greatest superpower in the world) could kill #Bitcoin, it would have done so already Bitcoin is the first credible threat to fiat that the world has ever seen Nothing else could compete with fiat as a medium of exchange, not even gold, until 2009
JUST IN: THE EUROPEAN CENTRAL BANK JUST ANNOUNCED IT'S IN THE "FINAL STAGES" OF LAUNCHING A CBDC MILLIONS FLEEING TO #BITCOIN. SOON 🚀
I don't care how much #Bitcoin I have I just want to find ways to get more If the price goes to $10,000, I see it as an opportunity to buy at a discount I've never been able to buy at More entrepreneurs are thinking this way about Bitcoin EVERY DAY They will produce whatever they can to get more Bitcoin We will have more people producing high-quality food, houses, cars, furniture, etc Housing would no longer be used as a store of value on a Bitcoin standard Housing would be commoditized and developers would squeeze every bit of profit out of the housing industry How? By creating as many houses as they can Abundant housing leads to abundance in everything else When housing is no longer a financial product, it will offer stability to the lower and middle classes Bitcoin will create more entrepreneurs than we have ever seen before BECAUSE of this stability When you're no longer working yourself to the bone to afford the basics, you can focus on being creative Producers will be rewarded on a Bitcoin standard - anyone can produce something of value and sell it to a Bitcoiner Anyone will be able to get some of the best money in the world if they're a producer, whether that's entertainment, education, or physical products Consumers will eventually be able to afford whatever they want to buy if they save in Bitcoin As more consumers understand Bitcoin, they become producers This is how Bitcoin leads to abundance image