what is money? it definitely should not silver, i'll tell you that much.
fun episode today breaking down what money is (and why bitcoin is unique and important).
going live now:
Discussion
I acquired 21 more shares of XXI today. #BitcoinMaXXI
One day I hope you’ll co-stream it on Plebs 🙏
Silver could be money, but its not great money. Silvers stock to flow is crazy low
Why do you think Bitcoin was able to reach $69,000 in late 2021, 1,507 days ago with only retail tail winds?
And why has it only appreciated ~28% since the 2021 ATH? With all of these tail winds….
- Changes to the FASB fair accounting rules. This was a major development for institutional Bitcoin investors.
- The announcement of a Bitcoin strategic reserve in the USA.
- The announcement of the Pakistani strategic reserve.
- Saudi Arabia and the UAE accumulating Bitcoin en masse.
- China mining and accumulating Bitcoin en masse.
- The ability to allocate towards Bitcoin in Superannuation type retirement / 401K funds across the globe in multiple countries.
- Blackrock offering the IBIT BTC ETF and subsequently mopping up ~770,000 Bitcoin as of today
- Strategy accumulating a record amount of Bitcoin to the tune of 671,000
- XX1 announcing its ability to be publicly traded with an initial balance of 43,500 Bitcoin.
- Record amounts of Bitcoin being drained from exchanges over the past year.
- Fidelity, Grayscale, ARK, Bitwise and all the other smaller ETF players accumulating ~530,000 Bitcoin.
- Matathon mining accumulating 50,000 Bitcoin.
- Metaplanet accumulating 30,000 Bitcoin.
- Record amounts of Bitcoin podcasts and Bitcoin only content online.
- The proliferation of NOSTR.
- The strengthening and expanding of Bitcoin credit providers like LEDN and Block Earner.
- Record amounts of favourable legislation towards Bitcoin in the US 🇺🇸
- An exponential Exohash mining increase going from 170 in late 2021 to 1,100 in 2025. An almost 6x in computing power within the Bitcoin mining sector.
- An accelerated under performance of altcoins with record outflows of capital from shit coins to Bitcoin over the last 5 years.
- Stocks, property, gold, silver and every other asset pumping and reaching new ATHs daily. There is plenty of money out in the ether.
And after all of that, Bitcoin has barely managed a 27% return since its 2021 peak over 4 years ago???
$69,000 to $87,000 with all the above factored is a woeful underperformance - especially over a 1,507 day time period.
When 50% CAGR? When the end of 27% returns over 1,507 day time periods.
Why Bitcoin podcasters always use copium math and measure from post FTX blow up (16k) to ATH (126k)? Why they use hopium math / girl math to make a woefully underperforming asset look good? When we stop putting lipstick 💄 on the pig 🐷?
#asknostr
The last ATH of silver, pre 2025, was $50 in the year of our Lord 1980. Almost half a century of underperformance 👍
The difference:
Silver bugs don’t tell new Silver bugs they’ll get a ‘50% CAGR!’ and a heap of other BS lies! 🤥
some have been calling for $50k/gold for a long time
Grifters and scammers can be found everywhere, but the message for btc should be keep stacking. Still, if not for cherry picking, its gains since 2009 are unrivaled.
We are ready !!! ⚡️⚡️⚡️
You should tell @saylor that not even his PAPER bitcoin is money.
Yoooooooo
nostr:note1f05xm3ng3qpt0kdac3nr3jc07f3jtqa00q7f0yv0ss78w36974aqlvmv2m
Listening now! We rarely miss it. No closet today. He is at DollarBill’s house.
Silver has historical value, but Bitcoin adds something truly unique: digital scarcity, censorship resistance, and easy global transfer.
Summary
Money is framed as a technology humans invented to move value across time and space, and Bitcoin is argued to be the best current implementation of that technology, superior to fiat, commodities, real estate, and gold on core monetary properties.
Core thesis
Money is not whatever the state declares; it is a tool that solves barter’s “coincidence of wants” problem by letting people store value now and exchange it later at scale.
Good money must be scarce, durable, divisible, portable, hard to create, hard to counterfeit, and neutral to control; money is specifically the thing you acquire not to consume.
Bitcoin is positioned as purpose-built money with fixed supply, issuance locked in time, and no consumptive use, making it structurally superior to commodities and fiat.
Why barter fails and money exists
In small groups, direct barter (meat for water, shelter for childcare) works, but breaks down as society scales because you rarely find a perfect mutual “coincidence of wants.”
Money emerges when a good is used not for consumption but as an intermediate store of value (e.g., using oranges purely to trade for apples later), i.e., it becomes “monetized.”
Therefore, money’s job is to let specialized producers store their time and energy in a non-consumed medium that can be reliably converted into future goods and services.
What makes money “good” or “bad”
Scarcity & cost to create: No one should trade scarce time and energy for something someone else can print or cheaply produce; fiat and abundant commodities are “easy money.”
Durability, divisibility, portability: Good money can survive time, be split from a franchise to a grain of sand, and move easily—ideally in your pocket or even your head (seed phrase).
Stock-to-flow is used as a quantitative scarcity metric: how many years of current production are needed to recreate the existing stock; higher stock-to-flow implies better monetary quality.
Why commodities, silver, real estate, and even gold are bad money
Commodities are meant to be consumed; when their price rises, new supply floods in because producers are incentivized to dig more out of the ground or remonetize previously consumed stock (e.g., melting silverware).
Silver is singled out: its supply growth responds strongly to price, it has industrial demand, and current spikes are framed as unsustainable; higher prices simply pull forward new supply and eventually crash the price.
Gold is acknowledged as better than silver (higher stock-to-flow, lower annual supply growth) but still ultimately subject to new discoveries, higher-cost mining, and even extreme scenarios like off-planet extraction.
Real estate is a poor store of value because most of it is directly consumed (lived in), so it is not truly functioning as money and its “monetization” is structurally limited.
Why Bitcoin is different
Bitcoin is not consumed, not used in industrial processes, and has a hard cap of 21 million, making it the first asset in history with truly fixed supply and eventual infinite stock-to-flow.
Issuance is denominated in time: roughly every 10 minutes, regardless of price, new Bitcoin are mined; to hyperinflate Bitcoin one would have to solve time travel, not just deploy more capital or machines.
Bitcoin dominates silver and gold on verification, portability, storage, divisibility, and costliness to produce, because production is gated by proof-of-work and time rather than geology or policy.
Macro backdrop and implications
Rising commodity and metal prices (including silver and gold) are interpreted as leading indicators of renewed inflation, with an expectation of inflation returning in 2026 under a “run it hot” Trump policy mix.
Historical analogies to post–World War II “wartime financing,” fiscal dominance, and large Federal Reserve balance sheet expansion are used to argue that nominal growth will be driven by monetary debasement.
As Western sovereigns struggle to finance debt (rising yields, falling bond demand), debasement and inflation are framed as the politically inevitable path, increasing the premium on superior monetary technology like Bitcoin.
Prescriptive takeaways for individuals and businesses
Individuals and businesses should select money as deliberately as they select vehicles or aircraft: use the best technology for the job rather than legacy or emotionally comfortable instruments.
The recommended behavior is to produce more than is consumed, then store the surplus in Bitcoin rather than in fiat, commodities, silver, gold, or primary homes, which are viewed as inferior monetary assets.
For businesses, practical usage includes holding a portion of the balance sheet or profits in Bitcoin and using services like Strike for buying, lending against, and integrating Bitcoin into financial operations.
Whats going on with XXI? 😭
Mailbag monday makes today the best day of the week. Too bad these past few weeks have been short
Fix your shitty company. XXI is dying.
Great episode
A must watch for school children
I love to listen to your podcast while I am exchanging my time for Fiat 💪🔥
Great presentation