If Trad FI understood #Bitcoin miners, Bitcoin miner stocks would be way up this week! Miners are getting a burger revenue boost right now from high transaction fees
We are still early
He suggested implementing a gold cryptocurrency with centralized custodians… sounds like a great idea… lol… it would all be confiscated within the year
Just listened to the recent Jordan Peterson podcast with Peter Schiff
His argument that Gold is money, is based on golds current and future industrial uses… if that were the case were Is the monetary premium in all other productive industrial metals??
100 sats/bit đź«Ł
Why is the transaction fee so high right now??? Is this all ordinal demand?
Everyday is an opportunity to be: a better friend, a better spouse, a better parent
Stumble towards truth
The Good Life is a wayward stumble towards truth!
philosophy + nostr = #philosophostr
Learning is a lifelong pursuit!
There’s always more to learn and you’ll continually learn how wrong you used to be.
The Good Life is a wayward stumble towards truth!
LISTENING TO AN AUDIO BOOK STILL COUNTS AS READING A BOOK:
It’s just a different way to get the words into your head… plus… I can listen to an audiobook at 3X speed (540 words/minute)… college students average about 300 words/minute
All that to say, I can get more words in my head over time faster and more efficiently then sitting down to read a book
Reading physical books is still valuable, but I typically only do it if I also have the 3X audio in my ear helping me speed my reading pace
IF YOU ARE CURRENTLY LISTENING TO PODCASTS AT 1X SPEED LISTEN UP:
Your brain can comprehend so much more then you are allowing to come into your ears! I’m listening at 3X speed and veraciously consuming books and podcasts. I easily finish 30-40hours of 1X listening content a week!
If you’re listening at 1X speed, for this week bump it up to 1.25X and know you are capable of so much more
#nostr #learn
May we all learn more each day #bitcoin #nostr
Thank you for that incredibly thoughtful response! #nostr is one of a kind!
Very well thought out and coherent! We are certainly in agreement friend.
May we all learn more from each other everyday
What are your favorite books? I am always trying to find more inspiration and education?
Great response. The church has certainly failed at governance on numerous occasions, especially pre-Reformation. My hope in my post above was that whatever government structure we choose to embrace in the future embodies some of aspects of post-Reformation church polity.
Some estimates now suggest there are as many as 45,000 Christian denominations at present. Freedom of association is the freedom I would love future governments to embody. This would result in a splintering of governments down to the most management level, while providing for larger governments (like the Catholic Church is for larger churches) for those that want them.
Why church polity structures may be a better architecture for future governments sans the religious focus:
Another benefit of church polity is a heavy focus on local governance with locally elected leaders by friends and family. These elect then participate with the parishes that make up the larger church polity. And if things become too bureaucratic or restrictive, individual churches can severe themselves from corrupt bodies, join other denominations, start their own. This is ultimately true all the way down the religious political stack. Denominations can fragment, individual perishes can break off, individual churches can realign, and individuals can leave the church
There is a social cost at each level which encourages cooperation and compromise, but every segment of church polity has ultimate freedom of affiliation. It’s not a perfect solution for future governments but it’s not a bad starting point.
Governments will hopefully look more like that of church polity and denominations in a couple decades…
Don’t like the structure of government or way things are being done… leave the denomination or start a new denomination
There is a social cost for leaving that encourages compromise but provides a nuclear option
This is my bearish price prediction
At the most basic calculation bitcoin could be worth at least 6M
$30,000/0.5% adoption = 6M
But this is far too simplistic, it doesn’t account for the marginal price of available bitcoin for sale. Bitcoin at 6M results in very little liquid supply coming available, meaning the price would likely be much higher
If we assume normal historical inflation over the last 40 years (roughly 2.9%), the USD will lose half its value in 25 years. USD is a bad store of value and people will figure that out given enough time
In 25 years after adjusting for inflation (avg 2.94%/year) and taking into account that only 28 bitcoin will be issued a day. If daily bitcoin USD buying volume is ~$30,000,000 (inflation adjusted ~$60,000,000), Bitcoin price will be close to 4M after inflation (in todays dollars closer to 1.8-2M per coin). All that to say bitcoin price targets of 1,000,000 are bearish. The above calculations assume 0 increased adoption… if you account for additional adoption, it would be dozens of millions per coin! Hold on to your sats… they might be worth something someday
Much easier to read then an 8 digit string with no spaces
#bitcoin is price is determined by the marginal liquid bitcoin available…
Every 4 years #bitcoin requires less buying power at a given price to keep the price stable. In this epoch of 900 Bitcoin/day that is rounghly 20 Million USD a day in selling power just from mining at around $22,000 per Bitcoin. (There are other sources of selling, but that is primarily high time preference selling). Next epoch, it’ll only be 10 Million USD a day, and that’s in a future where there will be even more dollars. Fast forward 4 more epochs, that buying power would be around 300,000 USD a day to keep BTC price at $22,000. yes that’s 25 years away. But it’s in a world of a couple quadrillion more dollars, continued increases in Bitcoin adoption and education. Bitcoin may not have bottomed this cycle, but if you have diamond hands and can suffer the Volatility, 25 years from now 1 million per Bitcoin is a bearish prediction. 25 years from now, 30 Bitcoin per day will be mined. At a 1M Bitcoin price that is selling pressure of 30Million USD a day, pretty close to where we are today (with no additional adoption).
Anyone who thinks Bitcoin is going to $0 or even that Bitcoin has hit its last all time high, have no understanding of Bitcoin supply changes and the built in incentive to #hodl