When #bitcoin is mentioned to those not familiar with bitcoin. They only think of a price on a chart because that is what most people are used to. Trading prices of tickers representing companies that have no profit.

There is no though of mining, the node network, the alien technology

Learning a foreign language in the future may still be valuable. People will still want to connect and communicate in their own language without the hassle of a real time language translation. The lag in the conversation introducing friction.

And if it’s not socially valuable, it at least provides brain benefits

We all screw up and go on the bitcoin horseshoe… unfortunately many newbies will fall into that same trap this next bull market… unfortunately I do not think shitcoins are done 😒

Real money is extrinsically valuable. Gold has some intrinsic value in its industrial utility and metallic properties, but its monetary premium arises from extrinsic valuation of the markets demand for a store of value…

#bitcoin is perfectly extrinsically valuable

I love when people say #bitcoin has no intrinsic value… I’m like ya, that’s kinda the point… Bitcoin is pure extrinsic value reflecting the value the market places on every other good

Adding 0’s before a decimal point in inflationary

Adding 0’s after a decimal point increases divisibility

#Bitcoin is only as valuable as whatever someone else will pay for it……..

Turns out that is a shitload of money

Rather than our parents generation saying, “I remember when I could buy this for 0.25 cents” we will say to our kids “I remember when that candy bar cost a whole million sats”… they will look at us like we are aliens

Our children’s children will marvel at us early adopters! They will ask about what it was like to send on-chain transactions, they will be astonished at the things we wasted our #bitcoin on

Anyone know if there has been any continued rollout of pay with Lightning on all CLOVER POS systems?

So much #bitcoin will be lost forever through poor storages practices over the next decade… thanks for the donation of purchasing power to the rest of us hodlers

Easy… the printing they are doing now is peanuts to the dollar destruction (deflation) on the horizon

This is going to create a massive credit crunch that will destroy credit dollars and create a massive reservation demand for US dollars to pay back other USD denominated debts (USD shorts)… magic… inflation disappears

What the fed doesn’t understand, is the deflation tidal wave coming that will bankrupt the system… they won’t let the system go bankrupt so they will print like mad! This is a similar cycle of excesses that stock markets and the Bitcoin market experiences…

So in the long run you are right! This does not fix inflation!

It is because we used to have a semblance of a free market in banking where as no where else in the world does… prepare for the number of banks to plummet and for our banking system to look a lot more like other countries

I wonder what Fed response will occur when the FDIC account reserves are empty…

This is one reason this fiat ponzi won’t end this cycle… the big four will buy up the rest of the banks with money from the government… maybe next cycle we see nationalization of those banks, and finally a crises that will melt the gov

Is this what is causing high bitcoin fees right now?

If by different you mean the same, then I agree!

Game theory, psychology, and the issuance epoch encourage a price trend that will be similar to the past 3 cycles

#bitcoin is the only storehouse of wealth that does not leak purchasing power to third parties

If you sold bitcoin where would you put your money in order to protect your purchasing power

Stocks? You have to have a masters in finance/accounting and a CFA to properly value some of these companies + there is risk with company obsolescence, competition, and potential for poor management

Bond? These contracts will almost certainly underperform inflation unless… you have a masters in finance/accounting and CFA buying distressed corporate debt that is much more risky. So you also need a fair amount of luck

Cash? Heck no, guaranteed to lose money

Real Estate? Maybe could work, but you after calculating your rate of return after property taxes, insurance, repairs, other upkeep, the returns may not be that great. And what if the government takes your land for highways or other projects. What if you have squatters on your land/property. And the government taxes you on any gains, whipping out any remaining positive return… plus it’s illiquid

Gold? It would work to an extent, but where do you store it, what is the cost, how do you sell a million dollars worth of gold? How do you transport it? What is the disposition cost? Where will you find buyers?

After thinking through all the options there is no alternative that reliably protects value without massive trade offs in liquidity and other risks. In order to save money successfully without Bitcoin you need to have a masters in accounting and Finance, have CFA and then maybe you have a chance of coming out of par with monetary inflation!

Peter Schiff argues that governments will back their toilet paper money with Gold and this will be a potential solution to our problem… it didn’t work in the past, it won’t work in the future…

In todays Digital age we can cooperate with society on a larger scale with LESS government interaction, something that wasn’t possible in the past.

People will opt to corridinate with those they can trust, not governments… #bitcoin wins

Anyone in #nostr part of a Rotary club? One of my friends wants me to join?