In general ai agree, however when the barrier to sound finance (without significant lifestyle compromise) is raised every year there are smaller and smaller percentages of people who can maintain the balance.
Additionally in considering 60+ retirement age people there are 'fixed income' options, but all are risky and losing purchasing power from what I can see.
And this is exactly why I'm sympathetic to your viewpoint. I did a pod last year with Jeff and have written articles using the Titanic as an analogy for this very position.
You can recognise Bitcoin as the lifeboat, but if you're underwater on the bottom deck of the Titanic and you can't breathe, then a lifeboat won't save you in time.
That's why I'm a big believer in reading the likes of 'Rich Dad, Poor Dad' and 'The Richest man in Babylon' as a starting point. You've got to pay yourself first and save something (in bitcoin) for your future self. It's existential. You'll then start to see the polarity of the two systems, as one gets worse and the other gets better.
And clearly, fiat inflation will make life more and more difficult in this system, but Bitcoin will reflect this, literally like a mirror image. It has to.
Both paragraphs you've written are absolutely true. And it will get worse and worse. So the question should be which system are you going to give more of your energy to if you know this?
Honestly, I tread a horribly fine line in my day to day life and have witnessed it as a small business owner getting progressively more difficult for several years. But transferring what energy you can into Bitcoin, both literally and financially, is the only thing I believe you can do. I just see it as a priority, not as something to do at the end of the month.
I agree with everything you said there. I also wrote an article using Titanic as a metaphor. Personally, I put as much of my time and energy in the new system as possible. My whole life revolves around Bitcoin in most ways, which is great.
However I think telling people not to measure bitcoin in dollars is ignoring the current reality we are living in.
For example, if Bitcoin consistently lost fiat value year over year nobody would want to own it. It would have minor advantages over dollars (self custody/ censorship resistance ect), but I think NGU is fundamentally essential to bitcoin's success.
Claiming otherwise ignores economic reality. Maybe that's not Jeff's point or yours, but that's what I'm hearing when I hear someone way to stop measuring bitcoin in dollars.
My read of Jeff’s “don’t measure bitcoin in the piece of paper” is: lots of people stop there in their understanding of bitcoin and all they see is NGU.
That typically leads to thinking it’s ok to hold ETFs, playing leveraged games, and planning to one day sell back to USD.
After you’ve understood that bitcoin is the new base layer and you choose which system you contribute your time and energy to, then it doesn’t hurt to make note of the USD price from time to time, because you won’t be going back and you’re just observing the natural disorder that must occur during a phase change like this.
This makes sense. I'm likely just reading into it too far because I'm too far down the rabbit hole to understand how most people are thinking about Bitcoin to begin with 🤙
