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Kyle ๐Ÿ†
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If you buy anything besides #Bitcoin you are short #Bitcoin.

Amazing event at the first #Bitcoin Soirรฉe @bitcoinbay

@bitcoinbay Pin the nose!

The Vaultโ€ฆ where #BTC is mined

Bitcoin stores purchasing power since everything else has an infinite supply, and Bitcoin has a finite supply.

This means that over time, all prices are deflationary when denominated in Bitcoin. The opposite is true for fiat currency.

โ™พ๏ธ/21M

I already explained how #Bitcoin fulfills the 3 necessities required to be a Money.

Are you aware of the difference between Money and currency?

#Bitcoin has the ability to retain purchasing power over time due to its fixed supply. Fiat and gold do not have a capped supply, which is why their purchasing power dwindles over time, like an ice cube. Bitcoin supply is inelastic to demand, which is something we have never seen in history.

Prices are inflationary when denominated in fiat.

Prices are deflationary when denominated in #BTC.

Money can be defined as 3 things:

1. Store of Value

2. Unit of account

3. Medium of Exchange

Fiat is salable over space but not time.

Precious metals like gold are salable over time but not space.

#Bitcoin fulfills the 3 characteristics of Money and is salable over both time space.

If you're adding liquidity on-chain, it's best to do it with larger amounts since you want to minimize the amount of on-chain transactions you need to send.

If Person A doesnt have food but has Money, he can trade that for Person B who was food and wants Money in exchange.