 | My reasons for being in bitcoin differ from the inflation hedge talking points. Bitcoin would be necessary even if inflation was averaging 1% annually. I see bitcoin as the first liquid, efficient, and impairment-resistant store of value in our 200k-year human history. Up to the present time, wealth has been preserved in buildings that are half empty. Montauk property that's never occupied. Huge tracts of arable land that is overgrown. Gold in government vaults. Yachts that get used once. Renoir and Caravaggio's hanging in home offices. I also see bitcoin as a form of wealth distribution. No, not the nonsense of robbing Jeff Bezos and giving his money to people that will give it right back to him, but the type that starts with demonetizing the political class. This eliminates their abilities to make war and fund non-transparent agendas. When the military industrial complexes begin collapsing, a tremendous amount of money, resources, and time gets re-distributed. When an authoritarian can't print money anymore, and gold has been demonetized as well, there's no place left but to step down. With the Lightning Network and time, bitcoin becomes more than just a store of value: it becomes a transactional currency. And with its full stack, a central bank. And ultimately, an entire monetary system that separates money from State. It combines all these things into a singularity that it shouldn't be able to. It's like the invention of fire--a mistake. We don't fully understand it, and it baffles economists because is doesn't fit any academic models. Check out this disastrous fiat trend: This is absolutely unsustainable. On the other hand, check out this bitcoin distribution chart: If it's easier to read it in a numerical list here:
Excludes Satoshi's coins (assumed lost), exchanges, ETFs, and public companies. Bitcoin/Fiat are trending in opposite directions. One's getting more abundant while the other is getting more scarce. One is finding its way onto whale's balance sheets while the other sees whales distributing . Bitcoin has never failed to show this type of thing either. Wether it's incentivizing green energy, using trapped energy, utilizing wasted energy, becoming more decentralized the larger it grows, being the ultimate beneficiary of regulation, sucking value from traditional stores of value, absorbing shitcoin excesses... My point is simple: HODL. Wait for the robust yield curve. Watch the Lightning Network go commercial. Utilize the non-custodial lending and borrowing whereby you never have to sell and never pay taxes. Become your own bank. [link] [comments] |
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