I wore my #Bitcoin shirt around Vegas all day and didn’t get a single comment, high five, hand shake, thumbs up, or any acknowledgment whatsoever.
We’re still very early.
Unsustainable, unpredictable, and inefficient base currency (fiat) incentivizes unsustainable, unpredictable, and inefficient human behavior.
Likewise...
Sustainable, predictable, and efficient base money (#Bitcoin) incentivizes sustainable, predictable, and efficient human behavior.
It should be. Thanks for trying… no worries if it doesn’t work.
That "aha moment" when you suddenly realize that Bitcoiners are not out to get you, but out to help you.
Pro tip: Unless you are the government, no amount of inflation is actually good.
#Bitcoin is money of the people, by the people, for the people.
Fiat is currency of the government, by the government, for the government.
Inflationary currency (#USD) primarily benefits the government, which maintains it.
Deflationary money (#Bitcoin) primarily benefits the people, who maintain it.
"Show me the incentive and I will show you the outcome."
- Charlie Munger
I'm of the opinion that #Bitcoin will be the best medium of exchange and store of value by 2030 and the only relevant unit of account by 2040.
Regarding money & currency…
What is the best:
Medium of exchange?
The USD. Hands down.
Unit of account?
#Gold. It has been an incredibly stable store of value & unit of account for thousands of years.
Store of value?
Clearly #Bitcoin which, by design, is a forever increasing store of value.
#Bitcoin for the win and #ForTheKids 🧡
A gentle reminder that printing money and expanding credit doesn’t create value.
With all due respect… change is hard for old timers. Paradigm shifts never occur without severe resistance from the status quo.
Heliocentrism was hard.
Electricity was hard.
Cars were hard.
Computers were hard.
The internet was hard.
#Bitcoin is hard.
All of this chaos--over the years--has primarily to do with the people's desperate attempt to preserve their hard-earned purchasing power while the governments methodically extract it.
Unlike anything else, #Bitcoin fixes this.
FYI:
Mountains of unpayable debt
+ high inflation
+ Operation Chokepoint
= Financial repression 101
In simple terms, "financial repression" is the methodical, possibly forceful, transfer of purchasing power to the government from its citizens.
Next phase: From general interest rate risk to credit risk.
Emergency liquidity *patches* will stave this off for only so long, imho.
Defund Dystopia.
#Bitcoin
Central bankers are--hands down--the world's best marketers for #Bitcoin.
As long as they are in the limelight, #Bitcoin will flourish.
Quantitative confusion? #QC
#QE: Lowering interest rates + adding liquidity
#QT: Raising interest rates + withdrawing liquidity
Current: Raising interest rates + adding liquidity
This strange hybrid is occurring in multiple countries and causing confusion among investors and commentators.
How risk assets respond (after the 3/22 FOMC meeting) remains to be seen.