If I can zap your note, you are ahead of 99% of the world.
It means you understand Bitcoin, lightning and nostr. 🟠⚡🟣
The trifecta
😂 sums it all up
My new strategy is to only orange pill the next generation. 🟠💊
Ain't got no time to explain money to people that are not interested in changing their outdated views.
Bitcoin will win because kids embrace it. Not because some 90y.o think it makes sense.
Bitcoin turns you into an optimist.
Bitcoin is a hedge against the clown world.
Would make sense to allocate 2-5% of your wealth in it... you know, just in case it catches on. ⚡️🟠💊
It feels good to be on the right side of history, doesn't it?
🟠⚡🟣
Because of it's physicality it's can't be self sovereign. At scale it has to be stored with a trusted entity, this reintroducing counter party risk.
Holders will issue more certificates then gold they hold. We've been there, we've done that.
Everyday I'm more bullish on Bitcoin ⚡
And I'm not the only one. There are millions of us now, and billions more will join us.
Are you telling me that if I hodl long enough 1 BTC = 1 BTC?
Bitcoin is a new asset class.
Once people understand the value of holding an asset that has absolute scarcity, that is decentralized, immutable, and has a predictable monetary policy; they will allocate, conservatively, 3-5% of their portfolio.
Do the math...
You buy gold in case the banks fail, but store your gold with banks?
If there's a counter-party, it's not your asset.
Yet they say they are raising rates...
Finally received it! 🫡⚡
If there is an escape, that escape will be used.
It does, and it will ⚡
Agreed.
Thanks for the book, will get is now!
What needs to happen for Balajis to win his bet?
1 - Banks unable to cover deposits (at scale)
2 - Rush to exit the dollar (at county level)
3 - Bitcoin become the flight to safety
Let's quickly look at each.
1 - Banks unable to cover deposits:
This might already be the case...
Banks bought a lot of treasuries when their prices were high (low interest), and are now in big loss as prices are down (high interest).
2 - Rush to exit the US dollar at the country level.
US treasuries are held in quantities by other countries.
Once they see cracks appearing, will they start to allocate out of it?
That would flood the market. And when supply increases...
3 - Finally, you have to wonder, what will be the safe-heaven asset in such a case?
What if there is an option that was...
-Not control by any single entity
-Audible & Immutable
-Requires no permission to use
-Censorship resistant
-Bearer asset/ final settlement layer
Any candidates?
The 90 day deadline is probably the biggest hurdle to win the bet, obviously.
But as the say... gradually, then suddenly.
Could it be that sudden tho?
What's guaranteed is that each ~10min a new block will be added to the chain. Bitcoin
🫡
Yea. That interview was brutal!
#[5] what do you think?