“You should post less about bitcoin, it is scaring away new users”

me:

Apparently one of the arguments Keynesians make for why Bitcoin's fair value is close to zero goes like this:

MV=PQ

M is the total money supply

V is the velocity of money, that is the average frequency with which a unit of money is spent.

P is the price level of the money unit

Q is an index of purchases

The value of the Bitcoin economy = (PQ)/(V*21000000)

Since almost nobody transacts in BTC for goods and services, Q=~0 and thus Bitcoin's economic value is basically zero.

While it's true that almost no one transacts in BTC on a regular basis, the logic is flawed.

MV=PQ is the equation of exchange. It's a way of measuring the amount of money that an economy needs based upon the demand for transacting. It's Keynesian demand-side monetary theory as opposed to Austrian supply-side theory.

Here's the unstated assumption for why the equation is wrong. More accurately, I'd say the equation is INCOMPLETE. The whole thing is built upon the assumption that the ONLY factor for demand of money is to SPEND it. We all know that's absurd. As such, this equation can AT MOST only quantify demand for SPENDING value, not storing value.

The Keynesians can't comprehend the value of Fuck You savings.

A little advice.

Every investment I ever made where I felt smart and savvy for making it turned out to be a loser.

Every investment I ever made where I felt sick to my stomach during the buy, like I was making a huge mistake turned out to be a massive winner.

Fade your emotions.

Don’t forget: Your $600 wire transaction is reported to the IRS, while 'too big to fail' institutions launder billions of dollars daily.

Brilliant for a few, very painful for you.

More than six years in #Bitcoin  and still feeling FOMO. Will it stop at some point?

ELON MUSK: I am open to the idea of ​​using #Bitcoin  on X.

Owning a share in a #Bitcoin  ETF still makes you a No-Coiner. Phew

Do not sell #Bitcoin  to Blackrock and Co.

Do not sell #Bitcoin  to Blackrock and Co.

Do not sell #Bitcoin  to Blackrock and Co.

Do not sell #Bitcoin  to Blackrock and Co.

Do not sell #Bitcoin  to Blackrock and Co.

Do not sell #Bitcoin  to Blackrock and Co.

🤣🤣🤣

Haters will say it’s fake.

gm plebs :) ☕️ 👌

I love being able to zap people when they give an awesome comment, post, or for helping to share the show out or give valuable feedback.

When I’m on Twitter I literally look for the button and then get disappointed. It really degrades the experience for me if I can’t toss 1,000 sats to the really valuable content.

What process? 🙃