Choice by Robert Murphy. Great book summarizing Austrian Economics and Mises magnum opus “Human Action”.
DOES THE WISDOM OF BITCOIN COME FROM AN ANCIENT CIVILIZATION?
Still one of my fav articles I have written:
https://bitcoinmagazine.com/culture/bitcoin-is-wisdom-from-an-ancient-civilization
By functioning as an actual store of value, #Bitcoin will absorb the monetary premium that #RealEstate has accumulated over the last decades due to the broken monetary system.
Under a #Bitcoin standard, housing will eventually collapse to its utility value, making housing affordable. People can buy bitcoin to store value instead of a (second) home. As a result, #RealEstate prices will fall and allow people to afford buying a home (picture: BitcoinSapiens).
Given the ever-present threat of war and totalitarianism, it is preferable to store wealth in a digital asset like #Bitcoin rather than in a tangible asset like #RealEstate, which can easily be taxed, destroyed or confiscated.
Bitcoin offers easy access to property, the ability to store value and build wealth. Functions traditionally fulfilled by real estate. However, bitcoin fulfils these functions much better. Given bitcoin’s vastly superior properties as a store of value, it has the potential to absorb a significant portion of the monetary premium that real estate carries as a store of value. Until now, #Bitcoin has mainly been understood as an alternative to gold (market cap: $10 T) due to its limited supply and excellent monetary properties. However, it is a direct competitor to the world's most used store of value, real estate, an asset with a market cap of $330 T.
If we assume that bitcoin will absorb 10-15% of the real estate market cap over the next few decades, it has the potential to become a $30-50 trillion asset just by doing so. That would mean $1.5-2.3 million per bitcoin.
Just like the aristocrats lost their wealth as people transitioned from agriculture to industry, wealthy industrialists and real estate investors will lose fortunes as we move into the new digital economy.
You just answered your question 😉
In a collapsing fiat system (pre-bitcoin), #realestate became the most popular store of value and basis for creating wealth. #Bitcoin will eat this lunch. It is rarer, more liquid, easier to move and harder to confiscate 💪
In my opinion, independence is one of the greatest advantages that Bitcoin offers. With bitcoin, a disinflationary currency that increases in value over time due to its superior monetary characteristics and the resulting growing demand, we can ride the wave of a deflationary money and gradually expand our business without unnecessary debt or the complexities of fiat-based business structures.
Accumulating bitcoin should be the core of any #Bitcoin strategy and will ultimately determine the long-term success of a company or individual.
Excerpt from the latest issue of “THE BITCOIN NEWSLETTER” I just shared.
READ OR SUBSCRIBE
https://leonawankum.substack.com/p/how-to-be-successful-in-bitcoin
The rationale of every successful Bitcoiner I've encountered has been long-term accumulation of bitcoin. This allows us to be most productive and create the greatest value for society, our company and ourselves, because, for example, we can continue to offer services on the market, use services, fund innovation and pay our employees when we run a business.
To illustrate this, I would like to ask you a question: Which of the following companies do you think has been more successful and added more value to society over the last 10 years?
Company A, founded in 2013 with 10,000 bitcoin on its balance sheet, borrowed too much, hired too many employees during the bull market, had to spend its bitcoins to cover costs during the bear market, and ended up with an unpayable amount of debt that finally resulted in bankruptcy as bitcoin fell from 69,000 to 16,000 in 2021.
Company B, founded in 2013 with 10,000 bitcoin on its balance sheet. Still owns 8,000 bitcoin, has grown slowly, mainly financed by own income, manageable debt and employees were hired in the bear market. Excess profits generated in the bull market were used in the bear market to accumulate more bitcoin.
The answer is clear: Company B, which has not only made a more positive contribution to society as employees are still being paid and the company continues to provide services to the market but it has also not wasted money from debtors.
Excerpt from the latest issue of “THE BITCOIN NEWSLETTER” I just shared.
READ OR SUBSCRIBE
https://leonawankum.substack.com/p/how-to-be-successful-in-bitcoin
Bitcoin is the easiest way to affect the world eternally 💫 #[0]
Before I engage with the outside world I need to go inside, every morning 💫
Breathing, reading, meditating.
The only way I can open up to #Bitcoin is to do the necessary internal work. It helps me to remember what truth is in a world of deception (fiat).
Bitcoin represents that truth …
Thank you for giving me a copy of your book #[0] - the perfect gift for my niece :) Proud of your work!
If you would like a copy, contact Will.
We need to support #Bitcoin authors.
#[0] bus at #BTC23 looking🔥🔥
#Bitcoin brings truth to a world of deception.
Easy morning, every morning.
Collecting our thoughts #[0]#[1]
