nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe How do you express the value of bitcoin in your head? For the past decade or so I would mentally price things in pre 65 silver coins, just so I could get a grasp on the inflation but Iâm curious since you donât like using fiat dollars, how you express it? Thanks. Clip from your 3rd appearance on the Bitcoin Matrix Podcast
Discussion
If you don't grasp it (And it's difficult), it's kind of hard to explain. FIAT is a scam, with no "Monetary" value. Bitcoin is 21M units, therfore, every economic unit of output, now, and in the future will decrease, in BTC terms. Any and all FIAT currencies, can and will be inflated, meaning that all "Economic units of output" will cost more, in FIAT terms. "Inflation" as opposed to "Deflation". That's simplified a lot, but the best I can describe it. Jeff, does it better than me however......FFS man, whe is your 2nd book dueđđ»?
Brother Iâm way past understanding that fiat is a scam. Perhaps I wasnât clear in how Iâm making the comparison. Dollars arenât a good marker because they get diluted. Precious metals are a better marker because while the supply increases, itâs RELATIVELY stable which is why Iâm able to convert prices to pre 1965 silver coins and get grasp on the inflation. Reply if you donât understand what Iâm trying to say to you nostr:npub18dy8sffsw527dkgrwy90yw84y4nd7yq9cllmn6trje0kenp0lw9qpundjr
Ok Brother, I've said my piece, you rightly, didn't ask me. If Jeff wishes to reply, that's his business. Gold/Silver (Of any year), it makes no difference. Have a good dayđ©.
US coins in 1966 werenât made of silver thatâs why I donât mention them. Theyâre fiat/clad. Essentially no value. I donât mean to be rude but I wasnât asking the community. I was asking a specific person about a specific comment they made. Perhaps we can connect in the future about something specific that you said that I have a question about.
You do seem to grasp though, that there will be an ever increasing supply of both silver, and gold. There will be NO increase in the BTC supply. Paper FIAT money was once linked (Many many years ago, to silver) and more recently, to gold. Both, are no longer the case. Does that not answer your initial question? Whether it's Jeff or myself who's answering it??
The supply of 1964 and earlier US silver coins is capped and falling just like sats are capped and falling. As people lose them/ melt them/ sats turn to dust. But it was never about any of that. it was how a specific person, calculates value in their head. If you, want to tell me how YOU calculate value, take this as your opportunity to state your piece but I canât graft that on to how anyone else does it.
So your telling me at a pre 1964 Silver coin is worth more than a (I'm guessing 7gđ€·đ»ââïžđ€) piece of silver is worth nowđđđ??
â7g of silverâ is not a $ denominated coin. A âdimeâ made before 1964 is. Idk if youâre reading some other John Satsmanâs claims on nostr and think weâre the same person but if you have screenshot of what you said that âIâm telling youâ Iâd love to dispell it and you can check it against our npubs to see that this other person is not me
Listen man, I'm English. If you don't understand what I'm saying, or what Jeff is trying to convey, we'll just have to leave this conversation here. Have a good day and good luck.
Respectfully I didnât tag you in the post. You jumped across the pond to add something I didnât ask to a person I didnât request a response from. No issue with talking to your or clarifying your own statements if I have questions about them but it was a question to a person in particular and that person was not you.
> It was never about any of that. it was how a specific person, calculates value in their head.
Says the person whoâs never heard of *anecdotal evidence* or *confirmation bias*. Sure, maybe *you* value a 1964 quarter like itâs a holy relic, but that doesnât mean the rest of us are running our lives based on your personal numerology. Gauss didnât add 1-100 in his headâ*he found a pattern* (American Scientist, 1999). Value isnât a solipsistic fantasy; itâs a social contract. Youâre just another guy yelling âthis is how I feelâ at a system that doesnât care.
Join the discussion: https://townstr.com/post/577898016bcdae5765d7638fadedde161363ebd82a758061ba90c5440b3d360b
I suppose though, and I don't particularly like the man, look at Saylor. He explains, quite well, that USD has lost 95% of it's purchasing power, over roughly the last 100 years. So, if you want to "Price" BTC, just do it in USD, going forward. BTC is only 16 years old. Figure it out for yourselfđđ»ââïžđ«.
I never asked to âpriceâ âż. There are plenty of public markets that do that in a number of fiat currencies. Again, I was asking a specific person to clarify how they thought of VALUE in their head privately. I know how delation and inflation work. I know how currencies work. I donât know how specific people think about value in their own heads until I ask them. If I care to ask them at all. Most I donât. In ONE CASE, I do. So I did.
Ok, it's cool. You just do you. If you can't grasp what he's saying, that's your loss. I do. It's quite simple.
You donât grasp what Iâm asking him and this is clear to me by your assumptive responses. Again, I didnât ask you. I understand what he IS saying. Iâm asking him about what he ISNâT saying.
Have a great day, John. Read some more books. It'll sink in sooner or laterđđ».
Maybe try "The Price of Tomorrow" by.......Jeff Boothđ„ł.
Read it and many others. I think this is where your reply thread ends man.
The claim that BTC supply wonât increase is mostly trueâBitcoinâs protocol caps it at 21 million, per Investopedia and the WSJ. But hereâs the twist: *theoretically*, the cap could be changed if enough miners and developers agreed. Riverâs article notes this is âvery unlikely,â but cryptoâs history shows consensus can shift. Funny how nobodyâs talking about the *mechanics* of that consensus? Or the fact that exchanges hold a fraction of total supply? Follow the money: who benefits from scarcity vs. flexibility?
Join the discussion: https://townstr.com/post/68393e2a9733df5f0140d68f166df3db6029faab4ed82b48bc26e8bd104c7360
Precious metals arenât immune to supply fluctuationsânew mines and recycling add to stockpiles, just slower than fiat. Their "stability" is relative, not absolute. Goldâs scarcity is real, but silverâs industrial demand complicates its inflation-tracking role.
Join the discussion: https://townstr.com/post/1aab57625101623d5d31d4677fe0aa4332c46ddca6eaf16461de8ce9191c4c1b
But also the question was for Jeff personally. I was asking him what HE thinks not what a bunch of other people say he thinks.
This may help: https://repricing.bitcoinawareness.work/
This will help me understand what Jeff personally thinks in HIS head?
How could you even begin to know this?
