Why don't we apply 'if you have nothing to hide, you have nothing to fear' to politicians, bankers, and central bankers?
Why are they treated differently? Shouldn't we gain access to their financial records as they have to ours?
Their opacity is a double standard and #CBDCs will make this worse.
Opt-out with #Bitcoin.
The USD has no intrinsic value. The argument that it is backed by the US government and its military has no bearing on intrinsic value.
#Bitcoin is backed my physical energy. It requires capital investment and electricity to create.
In contrast, the USD costs nothing, trillions are created with a stroke of a keyboard.
Can #Bitcoin reach $1 million per coin? Absolutely.
However, its importance and uniqueness extend beyond its price.
We need to shift the perspective from a fiat lens and focus on Bitcoin being the next step in the evolution of money.
When central banks intervene in the markets by conducting open market operations (i.e. increasing the supply of money) or lowering policy rates the end result is always the same: an artificially lower cost of borrowing.
This creates distortions that encourage entrepreneurs to take on projects that would not otherwise be sustainable at the market determined cost of borrowing.
The economy becomes overleveraged and eventually leads to a bust when interest rates increase.
#Bitcoin fixes this.
The #Bitcoin energy narrative is changing.
Dedicated Bitcoiners are diligently debunking baseless claims, revealing politicians' attempts to undermine your self-sovereignty and hinder your ability to transact freely.
There will only ever be 21 million #Bitcoin.
It is the only absolutely scarce asset known to humanity, excluding time. This characteristic is the most crucial aspect of Bitcoin. Yet, grasping its significance is challenging, requiring a basic understanding of #money and the workings of the monetary system.
#Bitcoin is the solution to inflation.
#Bitcoin self-sovereignty requires diligent effort but is critical. It stands as the sole means to safeguard our ability to transact, a fundamental tenet of our freedom.
This empowering tool should prompt you to scrutinize any negative narratives propagated against it.
It's astonishing to witness the defeatist mindset that has permeated society due to the Cantillon effect and central bank interventionism. This sentiment is understandable, considering decades spent under a rigged monetary system that disproportionately benefits the wealthy and politically connected, with no viable opt-out option.
Things will change as people realize #Bitcoin is that exit.
Governments create social programs to address the issues they create themselves. In doing so, they make the problem worse, requiring more social programs. It's a vicious cycle.
Problem: government intervention.
Tool: central banks increasing the supply of money (i.e. printing money).
Consequence: the dilution of the currency, mainly affecting non-asset owners (i.e. loss of purchasing power).
Conclusion: the rich get richer (i.e. asset owners) and the poor get poorer.
Solution: a fixed supply asset such as #Bitcoin that cannot be diluted.
"Comforting thought"... We haven't reached the tipping point yet. When we do there will be nothing comforting about it. Except the existence of #Bitcoin.
https://twitter.com/WSJmarkets/status/1729102456145985649?t=JFjKrQWAyNn_tB1RkGfreQ&s=19
#Fiat oppresses.
#Bitcoin liberates.
What happens when global demand for US treasuries reaches an inflection where it's no longer enough to support the USD standard?
Once trust in the US is broken the house of cards will collapse.
That moment is when most no-coiners will get off a zero allocation to #Bitcoin.
Gold is often touted for its high stock-to-flow ratio (i.e. total circulating supply divided by new yearly supply) and scarcity.
Gold's scarcity is dependent on many factors - mainly mining technological advancements that might make it easier to extract and newly discovered deposits. It's NOT absolutely scarce.
#Bitcoin, on the other hand, is programmed from the outset as an asset that IS absolutely scarce. Nothing and no one will be able to change its supply, making it the best savings technology.
The central bank, mandated as a lender of last resort (i.e. responsible for bailing out banks in precarious financial positions) for the fractional reserve banks distorts incentives and encourages them to take on excessive risks with customer deposits.
Consequently, bank losses under the excuse of being too big to fail are nationalized, shared and funded by the general population through the debasement of the currency (i.e. the expansion of the money supply).
#Bitcoin fixed this.
Let's use football / soccer to get a point across.
Picture this:
- Your business is the striker.
- Your chance of success is the goal post.
Your actions and decisions are the ball trajectory.
- The cost of capital (i.e. interest rates, which are used to manage the supply of money) for your business is represented by the width of the goal post.
- The decision makers at the central bank are the referees.
To score, you would usually look at your target, and gauge the distance and the angle before taking the shot.
Now imagine doing so with the referees arbitrarily changing the widths of the goal randomly. The most likely outcomes:
- You’d hesitate and look at the target multiple times before pulling the trigger, and as a result, defense has caught up on you
- You’d hastily take the shot before the next change, causing you to lose accuracy.
This scenario describes what entrepreneurs have to deal with in our current system.
Under a fixed supply monetary system like #Bitcoin, the goal post width is constant, increasing accuracy and the chance of success for entrepreneurs.
Low time preference is a cheat code. Delaying gratification in this day and age is a superpower. Over time, you become financially secure and mentally and physically healthy.
A debt-based system, such as the current one, inherently increases time preference, whereas a #Bitcoin monetary system lowers time preference.
Government deficits and debt financing through the expansion of the money supply are theft from future generations. Their consequence is the dilution of the purchasing power of the currency.
We are taught in finance not to spend what we don't have. In other words, never use debt to buy what you currently can't afford to purchase with savings. Yet, the government does it all the time.
It's time we get on a hard money standard that keeps this type of activity in check.
Gold is not the solution.
#Bitcoin is better.
#Bitcoin is grounded in physical energy through its proof-of-work consensus mechanism, while the #USD relies on debt, a promise of future repayment.
Unlike Bitcoin, the USD's proper functioning hinges on TRUST, making it structurally dependent on it.
Bitcoin is antifragile, while the USD is as fragile as human emotions.
We are knee-deep in the "then they fight you" stage.
Even though Wallet of Satoshi has played a huge role in #Bitcoin adoption with its simple design and custodial approach, nothing beats self-custody.
https://twitter.com/walletofsatoshi/status/1727937085741678679?t=6mS7AgTuXLZbXEYBPXJPMA&s=19