#meme #memestr #nostrmemes #memes 824,126 🤙💜

Financial "assets" are massively mispriced compared to #bitcoin and Saylor understands this.

Humanity has become absurdly productive and efficient over the last 200+ years. We learned to fly, then soon landed on the moon. We invented the telegraph, then soon created the internet.

With all of this innovation, we haven’t been able to properly save. Any “asset” that we hold today can be debased through additional production or devalued by free market competition. Because we couldn’t save in an immutably scarce asset, we resorted to hoarding real estate up to unlivable prices, endlessly buying tech equities despite monstrous valuations, and we even bought up negative yielding bonds. We unlocked immense wealth from unimaginable technology advancements, but we had no idea where to put this wealth.

Thankfully now we can save bitcoin, the one best monetary tool that nobody can print more of. Immutable absolute scarcity. If you want the ultimate passive investment, a global human productivity index fund-like return, or a “diversified” portfolio of everything, you now can just relax and buy #bitcoin—a money where the yield is an eternal decrease in prices due to free market competition and advancing technology.

Your wealth is melting—buy #bitcoin.

By approving a Bitcoin spot ETF, the #SEC will facilitate mass adoption of Bitcoin, but it will also pave the road for banks to eliminate self-custody.

Portfolio managers will increasingly incorporate these ETFs into their #portfolio holdings, which will increasingly render #Bitcoin an established asset. This, in turn, will impair the government's ability to subsequently ban Bitcoin.

Nonetheless, there will come a time when the traditional #banking system fails, and the governments that are controlled by multinational banks will seek to impose a ban on the self-custody of Bitcoin. The mandate will be similar to Executive Order #6102, which banned the self-custody of gold in 1933 to curtail widespread bank failures. The very purpose of a bank is to #custody your assets for you, as this is how bankers siphon off your wealth to enrich themselves.

Thus, your ability to self-custody assets is a direct threat to the #banks and they will try to stop you from holding your assets in self-custody. They will use the government to compel you by law to send your Bitcoin to a #FederalReserve bank in exchange for fiat #CBDC or paper Bitcoin (shares of a Bitcoin spot #ETF).

This time around, however, bankers (and the governments they control) will be unable to stop the self-custody of #decentralized, permissionless digital money. We've entered an era where many digital assets are being held in the custody of decentralized protocols or #DAOs. These decentralized entities are not fully within the jurisdiction of any government and the protocols that govern their assets are not centrally controllable. This will become a major problem for banks because there is no entity, (no person, no corporation, no governmental body), that they can compel by force to turn over the assets.

Banks will soon discover that not only are they unable to control decentralized protocols, but that these protocols will replace them completely. The bank-led government crackdown on #centralized exchanges that we're currently seeing only increases the market share and utilization of #decentralized protocols. The more the government cracks down on cryptocurrency, the more decentralized it becomes, which counterintuitively makes it harder to regulate.

Governments will next try to use CBDC to prevent the convertibility of fiat currency into decentralized digital assets. However, this will not only fail in this aim, but it will further destabilize the #fiat system by dramatically increasing money velocity, which is an input for inflation. Although inflation will also increase because of many other causes (e.g. spiraling public debt), higher inflation will bring fiat currency ever closer to the hyperinflationary event horizon. The worse inflation becomes, the less willing ordinary people are to convert their #labor into increasingly worthless fiat currency. As a result, ordinary people will increasingly seek to convert their labor directly into Bitcoin and/or other perpetually scarce digital assets that protect purchasing power over time better than hyperinflating fiat currency.

Eventually, cryptocurrency and de-fi protocols will come to be viewed as the natural evolution of financial markets. By restoring hard money, through means of trustless, decentralized, and publicly auditable protocols, de-fi is paving the way for a more stable financial system that is not perpetually plagued by financial crises that are inherent to a trust-based system fraught with counterparty risks.

By creating a trustless protocol, the #Byzantine Generals' problem has been solved. For the first time in the history of financial markets, #counterparty risk has been effectively minimized. Counterparty risk is what has underpinned every great financial #crisis in the past.

Any bitcoiners trying to tear down #Bitcoin only businesses are insanely misled in my opinion and wildly naive as to what we are up against.

All businesses should operate ethically, which they don’t, and Bitcoin only businesses should hold themselves to an even higher standard. However, we are up against the largest evil the world has ever known. Fiat money. Capable of destroying everything and anything in its path. Even worse, as it weakens it turns to global killing weapons to try to maintain its hold on society. While fiat is still accepted, war and death are certain.

#Bitcoin ONLY in the hands of as many as possible gives us a fraction of a shot at stopping fiat’s madness before it triggers the next world war. A FRACTION.

Go out today and talk to some strangers. Tell them about bitcoin, running and node and self custody. Watch their eyes glaze over and overwhelm fill their brains. Time IS NOT on our side. Anyone helping to educate the population to use a bitcoin only approach and the dire need for bitcoin is AN ALLY, even if they aren’t “perfect”.

Choose your battles wisely. 🫡

I think the definition will have to evolve. At this point I don't know what that looks like in a hyperbitcoinized world.

How would you define it?

Great points here. You’re right.

Easier said than done for most.

The scary thing about the ETF is that these institutions will be buying as much as they can and NEVER selling.

blackrock will be a bitcoin vacuum for the next 20 years.

What’s the counter attack for that?