A house is a consumer good, like a car or a TV. Now that we have Bitcoin as a perfect savings instrument, this will be re-realised and houses will lose their monetary premium.
Houses are only as expensive as they are because people bid them up to use them to hide from debasement. It is easier to make a dollar than a house, so houses appreciate.
It is easier to make a house than Bitcoin, so houses will depreciate priced in Bitcoin.
Houses will return to a price that reflects the cost of building it, plus a small margin of profit for those in the business of building them.
One of the most common misconceptions I see about Bitcoin is that 'blackrock are scooping up all the supply'.
They offer an ETF service where they buy Bitcoin to back ETF holdings 1:1. They don't even custody it, it's at coinbase.
Paper receipts for Bitcoin may skew the fiat price to the downside but can't take from it in the long run, anyone stupid enough to hold paper BTC will have their wealth expropriated into Bitcoin without actually getting to own any. Real holders like you and me are unaffected. Keep stacking brother 🫡
The human mind is terrible at comprehending exponential functions.
For it's entire life so far, Bitcoin has shown exponential growth.
Future predictions will boggle your mind - because your mind is trained to recognise linear relationships.
I'm close to 100% in Bitcoin, this wasn't a hateful post. It was aimed to help newer participants manage their emotions.
They're all great, but I think 4 is the best episode to show to NPCs to start their orange-pilling process.
https://youtu.be/iFDe5kUUyT0?si=Bjpkyih9DTy5Kcsj
This is the single best piece of education content I have ever come across. Show it to everybody you know and love enough to help.
Sat-cent parity still won't be enough to convince NPCs that Bitcoin has won. We are earlier than you think.
Betting on alts vs Bitcoin is like betting on copper to gain value priced in gold. Sure, it might on any given day, but is that really a smart trade you want to take?
At its core, money is a ledger. Commodity money [gold] serves as a ledger governed by nature. Bank money [fiat] serves as a ledger governed by nation states. Open source money [Bitcoin] serves as a ledger governed by users.
nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a
#bitcoin #nostr #freedom
Awesome note!
Paper money will go to zero, yes, but intrinsic value doesn't actually exist. Value is assigned subjectively for the trade of the next marginal unit of a good.
Any method of generating income is at the whim of the consumer and their subjective valuation of your product/service. Owning capital does not necessitate a return on that capital, it must also be intelligently located in a production process creating things that future humans will value.
Just because central banks own a lot of gold, this does not change the economic reality that savers in soft money see their wealth deteriorate faster than those who save in harder money. No matter what anyone says or does, wealth ends up all accumulated in the hardest thing to create more of.
Ain't that the truth!
Mainstream economists:
If money supply doesn't inflate no one will spend ANY money because they expect appreciation!
Bitcoiners:
Here is a zap of the scarcest thing in the universe, because you wrote something funny.