I first bought gold coins when gold was at $1000. Just after Bear Sterns went down in 2008.

Since then, we have gone from the western world being quite bankrupt, to being completely bankrupt.

Our governments have spent enormous amounts of money that they don't have on stupid wars and on a re-branding of the flu vaccine.

The BRICS countries who have been stockpiling gold for the last decade. Who can blame them?

The average person has gone from not knowing why they would ever buy gold 16 years ago, to now seeing that gold is a way to preserve value in a terrible monetary situation.

And during those 16 years, the price of gold has gone up by 2.45x. WTF???

The price of gold has not even kept up with inflation.

Where would the price be if everyone that though they owned gold, bought the physical?

Re-hypothication is real. All of the tools that the banks have been using to sell people fake gold can, and are, being used to sell people fake Bitcoin.

Self custody is the only way to own Bitcoin. If we really want the price to go up, then we need to tell everyone we know, to get off the exchanges. Don't even think about the ETFs and don't belive the numbers on the screen that the brokerages sell to us.

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Interesting... so what you're saying is that even if many of us self custody, if society as a whole choose to use custodial solutions where rehypothecation might really be happening, then it will naturally affect the value of Bitcoin.

The only way to fix it is to require payment in cold hard bitcoin.

And the only way to fix gold would be the same, except the markets for gold are in financial services... for using gold as a store of value.

So we gotta both encourage Bitcoin as a MoE over SoV, and eliminate the custodians. 🫡

People that run exchanges tell me that less than 5% of people self custody.

If we could push that percentage to just double up to 10%, then we would clear the float off of the exchanges.

At that point, tradfi wouldn't be able to hold the price down.