I am often asked by people new to #Bitcoin   , “What about its volatility?”

There is, of course, the standard answer about how a new asset never before seen in human history will inevitably experience ups and downs during its first few decades of parabolic monetization.

But what is more disturbing and far more impactful in the long run is the global social volatility that we are living through as the system of fiat-based central banking, only one part of a governing apparatus “led” by a floundering, careening, and incoherent political class, dispenses with any rhyme or reason as it implements contradictory policy moves across all domains. We are witnessing personal, idiosyncratic, and sentiment-based exercises of power driven by a sprawling and factionalized administrative state.

This is chaos. It does not end well. Plan accordingly.