Property is only property if you can defend it or if others respect it. Which one do you rely on?

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I predict that bitcoin will usurp gold's role as a Store of Value but it will empower silver as an emerging private cash Medium of Exchange.

Lightning is still quite challenging for most people to hold their own keys and manage their own payment channels.

Other Layer 2 solutions like Liquid and eCash are digital Promissory Notes that require trusting third parties to honor their I.O.U.'s.

These are all useful but it is important to know and manage your risks.

I posit that there is an emerging place for silver as a true bearer cash asset with all the privacy benefits. And it can help solve the "last mile" problem for everyday commerce.

Silver is a physical asset without counter-party risk which makes it a trustless savings and trading alternative for the millions of people who cannot afford an on-chain transaction.

I believe Bitcoin will make silver great again as it brings awareness to the value of non-IOU money.

#bitcoin

#silver

#gold

New Limited Edition Print added to the collection ✨️. Prints available for 1 oz silver or bitcoin/Amazon gift card equivalent

#art

#bitcoin

#silver

Since I see silver as a viable physical alternative for in-person cash payments (it is a bearer asset that does not rely on trusting a third party), I have decided to reprice a full Minnaar to silver instead of gold. As of now, the price of One Minnaar is pegged to the value of 777 troy ounces of silver.

This means a few things:

1) Few people will be able to own a full Minnaar as the current USD equivalent is $17,871.

2) Limited Edition Prints of 777 can be acquired with 1 troy ounce of silver each which will make everyday trading of these much simpler

3) One ounce silver rounds are easily aquired at local bullion dealers and are easily verifiable. Plunk one down on a countertop and its distinct resonance will tell you if you have the real deal.

4) I will consider anything of equivalent value in trade, including bitcoin of course. The only thing I no longer accept is Matrix Money/war-bucks/fiat.

5) If I need Matrix Money/war-bucks to make a purchase, I will make a conversion at the latest possible moment prior to the exchange.

The blood of war-bucks is on the hands of the holders who have alternatives and do not use them.

#bitcoin

#silver

#gold

#art

Reality Check:

Fiat is still the most useful Medium of Exchange because almost everyone accepts it in exchange for their goods and services.

But this won't always be the case as nation states continue to devalue their currencies.

The day may soon come that you will no longer be able to "pass the buck" because no one will accept it anymore. How many will you be holding when this day comes?

#bitcoin

#fiat

My favorite definition of wealth is the ability to create value *and* trade it for your needs...

Agreed. And gold and silver are just another type of barterable commody with many characteristics that have made it the most desired commodity over the ages

My favorite definition of wealth is the ability to create value in the marketplace trade it for your needs.

When you can earn more than you spend (creating a surplus) it is important to find the best Store of Value for your own needs.

You have many choices and bitcoin is one of the best in my opinion. But it is not for everyone as we all have different needs (Subjective Theory of Value).

For me, my art is my savings and my Store of Value. I create it in surplus and I only trade enough to cover my needs. I use bitcoin as a Medium of Exchange but not as a Store of Value.

Nevertheless, I recognize the benefits of saving in bitcoin for most people and I am one of Bitcoin's most ardent supporters.

Long live Bitcoin!

#bitcoin

#art

Having said this, physical fiat will still work best in these situations until fiat is utterly destroyed/devalued by their issuers. Only then can silver (and gold) emerge as a commonly accepted medium of exchange.

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Yes, maybe in a decade. Until then, precious metals are a great form of cash accessible to everyone. Bitcoin is great too but all of these have their strengths and weaknesses. Use them for what they're worth to you

Have you ever walked into a business when their internet connectivity has gone down? Can you see how there might be a demand for physical, tradeable bearer assets (cash)?

What if the entire community loses connectivity for a period of time?

Digital money is great, but it might be wise to have some physical money too. Silver can fill that role. 90% silver (pre-1965 U.S. silver dimes/quarters/halves) can be quite versatile

#bitcoin

#silver

#gold

Everything is an asset and everything is a currency so long as someone is willing to trade something of value for it. Some things are just better than others (valued by more people).

Space mining comes at a cost and any new supply will likely dampen prices therefore lowering the incentive to mine. Nothing to fear here.

Space mining comes at what cost, at what reward, and in what time frame?

Market prices will adjust to any new supply when that happens, thus reducing the incentive to undertake the expense of continuing to mine in space.

The point is that gold and silver are still viable and affordable complimentary assets to those that require internet connectivity, trust, and high transaction fees

"Bearer asset" is probably a better descriptor than "bearer instrument" when discussing physical gold and silver

Silver and gold are non-digital, bearer instruments that are great for in-person transactions without the need for connectivity or trusted third parties. As bearer instruments they are true "cash" with all the privacy benefits and they are an excellent "Layer 2" alternative to bitcoin.

Since most people in the world will be unable to afford an on-chain bitcoin transaction, gold and silver can be a valuable, trustless, and private form of untraceable cash and store of value at the local level.

Bitcoin actually makes it possible for gold and silver to shine again while filling a very important market need for local, private, trustless transactions.

eCash and other Layer 2 solutions require connectivity and/or trust.

Consider the strengths and weaknesses of all of these and plan accordingly

#bitcoin

#eCash

#gold

#silver

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Increasing the supply of gold still comes at a great cost but, yes, bitcoin shines in the area od scarcity.

One area where gold (and silver) shines is in the physical realm without the need for an internet connection. Bitcoin naturaly dominates in the digital realm.

The point being is that they can both be useful tools due to their unique properties and there is no "either/or".

For example, smaller, in-person transactions can be handled with silver which is a true bearer instrument that is untraceable cash with no need for connectivity.

Small, onchain bitcoin transactions have higher cost while Layer 2 solutions require connectivity and/or rely on trusted third parties that can rug you or leak transaction data.

Also, it's nice to have a physical bearer asset to trade with when your cell phone battery dies

Contrarian opinion: when it comes to gold and bitcoin, it's not "one or the other", rather, they enhance and complement each other's unique properties

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#Trade Opportunity

Today I will trade up to 0.25 Minnaars from my collection for sats, silver, gold, or gift cards. DM me if you would like to trade

#art

#bitcoin

#art

#bitcoin