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#Bitcoin - Freedom over all

Me: playing the lottery is for people who don’t understand numbers.

Also me: 😁

Steak n Shake knows what’s up.

“STEAKTOSHI” is awesome 😆

How’s r/buttcoin doing today? 🤔

Hot take: eventually, if we ever want to get to most of the world using Bitcoin, we’re gonna have to become comfortable with few, but highly respected, audited, and reputable custodial solutions.

Self custody isn’t for everyone.

And that’s ok.

The wife yesterday: “Why don’t we just put our savings into Bitcoin? It’s not like it’s going to go to zero. And how often do we need all of our savings at once?”

Fam…. She’s starting to believe 😍

Replying to Avatar Saifedean Ammous

No, you did not miss the bitcoin train.

We are just getting started.

Just because bitcoin went up a lot does not mean it cannot go up a lot more. On the contrary, the more it goes up, the more it demonstrates product-market fit, the more likely it is to go up.

Bitcoin is different from stocks, bonds, and commodities because it has a much, much larger addressable market. Let's compare:

Apple's total addressable market is 8 billion people who can own an iphone and laptop. A lot of them already do, and a lot of them are too poor, so there's just not much more room for growth. Maybe Apple can increase by 5x, or 10x, but it would need to introduce new products that are wildly popular to do so, which is very difficult. Ultimately, an Apple stock is a claim on cashflow, and it is priced based on expectations of Apple cashflow, and it is not easy to continue to increase cashflow once you're a trillion dollar company.

But bitcoin is money, and its total addressable market is all of the planet's cash balances, which currently include something in the range of $100 Trillion in physical government cash and checking and saving bank accounts, plus ~$120 Trillion in government bonds, ~$22 Trillion in gold, and arguably, a chunk of the world's real estate and stock markets, which people are holding to beat inflation, and not to take risk in search of return. All in all, bitcoin's Total Addressable Market is in the range of $200-300 Trillion, which is about 100 times larger than what it is now. All of these assets are trash compared to bitcoin, and there is no reason for anyone intelligent to hold a significant position in them. Everything held in these assets has lost ~90% of its value against bitcoin in the last 5 years, and will likely keep losing another 90% every few years. The only things maintaining significant demand for these assets at this point are their holders' old age, intelligence deficiency, and susceptibility to government propaganda. They can continue to hold these assets as they decline, making them poorer, or they can shift to bitcoin and start getting richer. Either way, and regardless of what they do, the world's wealth is going to end up in the hard money, and not in the obsolete moneys of the twentieth century.

Bitcoin has no cashflow to price it. Most nocoiners think this makes it a ponzi, but that is only because they have never experienced real money, and only have as a frame of reference the hot potato trash fiat money which everyone smart tries to exchange for hard assets as soon as they can. They are incapable of understanding people demanding to hold money for its own sake, for its ability to hold value, and not for cashflow. This is how gold became the money of the world without generating any cash flow, and this is why bitcoin, which is infinitely better money than gold, is going to continue to monetize and grow.

Nonetheless, bitcoin's demand is highly variable, and with leverage, it will likely continue to be significantly volatile for the foreseeable future, so always keep in mind that it could decline significantly, and manage your position accordingly.

It’s all so tiresome… 😮‍💨

“Αρχικά υπήρχε ο Λόγος και ο Λόγος υπήρχε με τον Θεό, και Θεός ήταν ο Λόγος.”

The real ones know. 🔥

Neat little reference to Bitcoin in Deus v Machina by Dave Cullen.

Very cool 😎🤙

And I should note that it was completely anonymous/KYC-free. Freedom money is real, folks.

Just bought food with something critics keep telling me can’t be used to buy anything.

Get rekt.

I realize now that your comment was a response to another comment regarding BIP-177 and I might have misunderstood your comment in that context.

I was operating under the impression that you meant that the Bitcoin symbol was fine for sats without any reference to the BIP.

Ignore my comment if I misunderstood you 🫠

Very respectfully, and as a huge fan, I have to politely disagree.

If I see “₿ 1000”, I feel like I’d read it in my head and out loud as “one thousand Bitcoin”, and I don’t think I’m the only one. Fortunately for me I understand what’s going on, but a normie who’s only really only heard of bitcoin from news and only really knows that it’s “really expensive now” could be really confused.

It could be argued that, right now anyone using Lightning to buy a shake isn’t a normie, and that’s 100% fair. Probably true.

It just feels wrong and like something we should be trying to “fix”.

I get that it’s easier to use the bitcoin symbol for now since there’s no agreed upon sats symbol, and there’s a good argument that a large number of decimal places is even worse, but I just can’t quite get down with it. It feels like we’re pushing an inevitable point of confusion/clarification using ₿ to represent sats.

Personally, I like https://satsymbol.com/, but it’s another one of those things that the community will bicker about forever, so I don’t really have a solution… I’m only convinced that ₿ == sats (sometimes) isn’t it 🤷‍♂️

Homeschool your children.

We all hate empty promises and pandering, yes. But it can’t be denied that the fact that they feel like they NEED to pander to us is a massive step forward.

I refuse to just act cynically and take the wins. This is still a win, even if you don’t believe him.

Replying to Avatar Cykros

https://satsymbol.com/ really not sure who doesn't like this or why.

Oooh nice! That should be added to Unicode.

Best one so far.