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Stefan
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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.

One day, Plato asked Socrates, his teacher and mentor, “What is love?”

Socrates replied, “Plato, take a walk through the wheat field nearby. Without turning back, walk forward, and pick the most magnificent stalk of wheat you can find. However, you are allowed to pick only one.”

Plato followed Socrates’ instructions, confident that he would find the best stalk of wheat in the field. Before long though, he returned empty-handed. Socrates asked, “Why have you picked nothing?” Plato replied, “I had found the most magnificent stalk of wheat as soon as I walked into the field, but since I was only allowed one pick, and I could not turn back, I thought I could find a better one further ahead. However, I could not find a better one as I kept searching, so I returned with none.”

“And that is love,” said Socrates.

Some days later, Plato asked Socrates another question. “What is marriage,” he asked. Socrates answered: “Go to the woods, and as before, without turning back, bring me back the best and strongest tree in the forest. Again, you’re only allowed to choose one, so choose wisely.”

Plato walked through the woods, and returned soon after with a tree. However, the tree was not strong nor tall. Socrates asked him, “Is this the best tree in the forest?” Plato answered, “No, but I didn’t want to return empty handed like last time, and while I’m sure there are better trees in the forest, I felt I could not afford to miss the opportunity at this tree.”

“And that is marriage,” said Socrates.

On yet another day, Plato asked, “What is an affair?” Socrates answered, in his usual way, “Head to the woods, and look for the most beautiful flower. This time, you’re allowed to look wherever you want, and you can retrace your steps if you must.” Plato, given these instructions, went into the woods full of confidence. In a short time, he had found the most beautiful, most colorful blooming flower in the forest, and picked it out of the soil for his return. As he returned, however, the flower began to wilt. When he arrived, Socrates asked, “Is this the most beautiful flower in the forest?” Plato answered, “Yes, I discovered this most beautiful of flowers, but as I returned, the flower began to lose its color and beauty.”

“And that, is an affair,” said Socrates.

Now older and wiser, Plato asked Socrates once more, “What is life?” Socrates pondered for a moment, and told Plato, “As before, go to the woods, and find the most beautiful flower there is. You can go anywhere, and pick as many as you want.” Remembering all his previous experiences, Plato walked into the woods again. But after three days and three nights, he had still not returned. Socrates, with a bit of concern, went out in search of Plato. Before long, Socrates had found him, in a makeshift camp that Plato had set up. He asked Plato, “Have you found the most beautiful of flowers?” Plato pointed to a flower right next to his camp site, and said, “That is the most beautiful flower in the forest.” Socrates inquired, “Why have you not picked it yet?” Plato answered thoughtfully, “If I pick it, it would wither like the last one. But even if I don’t pick it, it will wither and die sooner or later. So while it is in full bloom, I will live beside it, admiring it from here. When it finally wilts, I will look for the next most beautiful flower. This is already the second flower.”

Socrates took this in, and said, “Now you understand the essence of life.”

If I remember correctly, Dr. Kiltz doesn't recommend consuming them. I used them for two to three years, but after switching from keto to carnivore, I discovered that they caused my blood sugar to spike, which is logical given the starch they contain. So I eliminated them from my diet; they were the last plant-based component I was consuming anyway.

For me the classical composers have written pieces that really blow you away. Joseph Haydn was someone who always positively surprises you and his music makes these strange times a little more bearable. "Insanae et vanae curae" is an example of pure energy. Many American freedom fighters loved his music and Beethoven's and I can understand why. I also like pop music. Yours and Walker's covers of The Chain remain an all-time classic

https://youtu.be/7jOb5REuV0U?si=UhP_qCLyVJquzdP6

"A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings."

--von Mises

Replying to Avatar GHOST

Can't wait for this song. Thank you so much for all the incredible work you and Walker have done over the years. My Bitcoin journey wouldn't have been as joyful as it was without it!

Thank you so much for sharing this!

I haven't had the opportunity to interact with monkeys in this way yet, but at least I can get a small taste of what it would be like. It's another example for me of how great this community is here on Nostr.

Sorry to hear that, keep up the good fight and protect yourself!

But it doesn’t come as a surprise that this happened in Canada, because it is fully controlled by the families and banksters who control the British Empire (which was only renamed to “Commonwealth” without actually changing what it had been doing for centuries.

I recommend reading or listening to Matthew Ehret in order to understand how destructive and dangerous these families and their empire is.

One of the aspects of Bisq that I love is the ability to pay the seller with gift cards, because I generally don’t trust banks and don’t want to them being involved in anything I decide to invest money in.

I don’t mind small banks, some of them are probably decent companies, but I try to be as little in contact with them as possible and Bisq has been a really excellent road out of the Fiat system. Thanks for all of your efforts!

I mostly agree, with one small difference:

Misinformation: this is information that is true, but your government overlords want you to ignore it because it conflicts with the narrativ of their overlords.