Subnostr

less 2y ago

I see three major *currency* blocks by 2033:

1. The US #dollar: fiat currency; backed by the US military

2. The #BRICS note: backed (at least partially) by #gold

3. #Bitcoin: the people's money

Most other fiat currencies that currently exist will be irrelevant or nonexistent.

Replying to

Learn About Bit

I agree, what’s the point of it. Why not just use Bitcoin (Lightning) to transact. Involving fiat is just inefficient, lets not beat around the bush.

less 2y ago

I agree with you. But it will take the rest of the world a long time to come to this conclusion.

Replying to

twentyone

Is it the idea of being entirely pegged? What are your thoughts on the recent statements of RFKJr in relation to a basket of commodities such as gold bitcoin silver etc. I believe he was suggesting a small percentage rather than 100%.

less 2y ago

It’s not an unreasonable idea.

Replying to

Jordan Eskovitz

I'm not interested in defending a fiat peg, but as a point of curiosity: were a government to attempt it, wouldn't the currency by definition not be fiat any longer? And, therefore, when pegged to btc, it would no longer be endlessly depreciating?

less 2y ago

The issue is the debt payments, which would quickly become insurmountable, forcing the peg to break.

Replying to

ghostBTCBLD

Global liquidity points to market overvaluation by 15% when indexed to 2019. However, if you go back to 2002 liquidity and markets JUST broke even.

Blue line is liquidity and orange is wilshire. Bottom charts show the gap between the two.

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l thought you guys would find the liquidity vs markets from 2002 particularly interesting

less 2y ago

Nice chart!

I think it’s wisest to start the global liquidity comparisons to risk assets in the GFC time period, as this is when the Fed (and central banks, in general) wrested control of the markets almost entirely from underlying economies.

less 2y ago

The dollar (or any fiat currency) could never be pegged to #Bitcoin.

Even if a government was dumb enough to attempt it, the peg would quickly break.

Numerous fiat currencies tried--and failed--to stay pegged to #gold... which is only a stable store of value!

#Bitcoin is an appreciating store of value and is therefore incompatible with a fiat peg, as fiat is always and everywhere a depreciating store of value over time.

less 2y ago

In case you’re not on the (free!) mailing list for whatever reason… 😂

Here is my latest update for separately managed account clients (and friends) of Vailshire Capital Management.

Enjoy! 🔥

https://vailshire.com/august-2023-update/

Replying to