A Reminder Why You Must Hedge Fiat Exposure
I try to watch this video at least once a year to remind me how money printing works and why it will never stop. Bitcoin is a way to protect against money printing which translates to our money being worth less until it eventually is worth nothing.
It’s 30 minutes of your time, narrated by a very smart and successful individual, which will put things into perspective very quickly:
This is great, thanks for putting it into perspective. What was the math used to get to that debased number?
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Teach 'em young:
I feel the same way. SimpleX would be the way to go, but almost nobody has it.
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Einstein and Bitcoin
At some point in our lives we have all come across Einstein’s famous energy-mass equivalence equation or, E=mc2. This simple, yet very powerful equation states that energy and mass are one and the same. We experience this formula everyday of our lives from the moment we use a GPS to help us navigate, to the sunlight that we receive from our own Sun. Without us being aware, this equation is embedded in our daily lives and it’s not necessary for us to know or care about, although learning about it can be out of curiosity but not necessity.
The great majority of the world is still unaware of the positive implications that bitcoin is bringing to several aspects of our daily lives; predominantly the financial aspects. We live in a world where fiat currencies (USD, EUR, GBP, JPY, etc.) are being printed without limits, causing all kinds of havoc to our purchasing power across time (i.e. it will require more dollars in the future to buy the same bottle of CocaCola today.) I do see a future where currencies will be priced off bitcoin, which will allow the citizens of all countries to transact with their own currencies in a much cheaper, faster, open and less intermediated manner. This will be possible due to the fact that all currencies will “speak bitcoin,” but no person will really have to hold onto bitcoin if they don’t want to or even know about it. The infrastructure to this system is already in the process of being tested in the Global South and will slowly grow from there.
Fiat currencies have an infinite supply, whereas there will only ever be 21,000,000 bitcoin in circulation. The very simple, yet powerful formula of ∞/21,000,000 (infinity divided by 21,000,000) demonstrates a path of where bitcoin price can go. What happens to bitcoin’s price when you divide large amounts of fiat (or infinite amounts) by 21,000,000 bitcoin? It can only trend up. While there are still several challenges in the road to fiat currencies “speaking bitcoin,” its protection against debasement and severe inflation has already been proven in currencies like the Argentine and Cuban Pesos, Egyptian Pounds and others.
∞/21,000,000 will become as powerful as E=mc2, it will just take more time and when it happens, not that many will really know or care about it, except those that bought bitcoin in anticipation to this.
You can buy BTC on Coinbase (full KYC) for $65,956 or through RoboSats (non-KYC) for $66,495. The difference is 0.81%.
It's a 0.81% premium to retain your anonymity. Yes, please.
Bitcoin for Generational Preservation
It is hard to believe that bitcoin can be a hedge against currency devaluations and inflation due to its volatility, but if you zoom out enough and ignore the short term noise, the story is quite different. I admit that I also did not believe that bitcoin could protect purchasing power over time, but I was convinced otherwise by looking at the unfortunate economic circumstances that countries like Argentina, Cuba, Nigeria, Egypt and Ukraine have faced. These countries have all experienced massive currency devaluations over time for various reasons and they have all had the same outcome on their populations: pushing more and more into poverty. This not only affects the current generation, but also further sets back the next generation in terms of their development. Continuing this train of thought, that means the these countries are then in a worse position to compete on the global scale and are doomed to be under the control of the developed world.
Take a look at the attached 5-year graphs that show how much bitcoin has appreciated relative to the following currencies:
Argentine Peso: +30,651%
Cuban Peso: +37,401%
Nigerian Naira: +6,309%
Egyptian Pound: +4,128%
Ukrainian Hryvnia: +2,137%
For reference, bitcoin priced in USD over 5 years has strengthened +1,457%
Said another way, this means that you need less and less bitcoin to acquire the same amount of that specific currency. As currencies get debased by their own central governments and external forces, bitcoin becomes more valuable in local terms. Bitcoin is a beacon of hope and a lifeboat for the populations of these countries that experience such high rates of devaluation over time; its one of the very few ways they can protect their purchasing power to ensure a better quality of life for the next generations. [This last sentence also applies to the developed world, over time]
