How are we going to win without a sustained high fee environment ;)
The last few blocks have all collected 3 BTC+ in transaction fees alone. If this repeats after the halving when block rewards are 3.125 BTC/block the block subsidy will be 1:1 in terms of block reward and fees
As high fee environments like this become more common we should see more services integrate lightning, and more development on lightning. Bullish.
Real, Twitter is full of fearmongering.
The cost of obtaining a degree increases every year while the value of having one decreases every year. No longer worth it.
The power of living on a Bitcoin Standard in South Africa | Petrol prices vs Bitcoin👇
https://void.cat/d/4PwK8Jgb4ATMAABa9Qwq3k.webp
Tonight, the price of petrol will increase by 4.65%, and diesel climbing by 8.29%. YTD petrol has increased by ~20%, and diesel by ~18%. Many South Africans are struggling with the rise in the cost of living, as their incomes struggle to keep up.
I ran some numbers to illustrate the price of petrol and diesel over the past 5 years, comparing the costs in both Rands and Bitcoin. The findings really demonstrate the power of saving in a hard money.
Here are some charts that show the price of petrol since 2018, first in Rands and then in Bitcoin.
https://void.cat/d/Smzz7XsnkogzHd1AhqW2Se.webp
https://void.cat/d/89ywCNcL9GXt1Yy28qamSi.webp
And then charts that show the price of diesel since 2018, first in Rands followed by Bitcoin.
https://void.cat/d/4i4tkkYCaT9LZfB973yHNy.webp
https://void.cat/d/WQbbw7atbCnkckYN3fHtEm.webp
From the data, we can see that the price of petrol has soared by approximately 68.5% since 2018 when priced in Rands. However, when priced in Bitcoin, the cost of petrol has decreased by a staggering 81.2%.
Diesel tells a similar story, having risen by around 71.9% in Rands but decreasing by nearly 80.8% when assessed in Bitcoin over the same time frame.
To provide a more recent perspective, the YTD price change reveals that in ZAR terms, petrol has surged by 20%, and diesel by approximately 18%. In contrast, when priced in Bitcoin, petrol has dropped by 35%, and diesel by 36%.
This demonstrates the profound advantage of saving your income and wealth in a hard currency. Not only does it enable you to counteract the rising prices we see in fiat terms, but it actually makes goods and services cheaper overtime!
In my experience, the most effective way to explain the power of saving in Bitcoin is by comparing the price changes of everyday items in fiat, and then comparing the price changes in Bitcoin terms as it gives most people a reference that they're familiar with.
While petrol is just one of these daily necessities, it's undeniably one of the most important. I plan on doing more comparisons down the line to demonstrate the deflationary benefits that come with saving in Bitcoin.