Getting off the Titanic.

I had a friend over a couple of days ago and we talked a little about crypto. We've both have been in it deep for a couple of years now but unlike me he has since done a lot more research.

He told me about a metaphor about fiat and crypto he had heard of, that I found very accurate.

Basically fiat is the Titanic. The unsinkable boat. Or so people think - but it's already sinking. The thing about sinking boats when they are this big is that it takes time.

So nobody outside believes it can sink and the ones on it are clinging to it with all their strength not to fall off. There are life boats all around (crypto) telling people to come over before they drown. Some swim over in a hurry, some just asses the situation and some would rather sink than risk swimming to the life boats through cold water.

The Titanics captain and his crew, they don't really like the life boats. They prove to people that they are sinking and that leads to panic. So they try to get rid of them by attacking them. So eventually the life boats will leave everyone who is still up there to drown and go to shore with the people they could save.

It's not as eloquent as it was when he described it, but that's pretty much the gist of it. When we consider that every fiat currency in history has gone belly up and the dollar has lost 80% of its value since its inception, without signs of slowing down, while the feds print cash as they see fit, it's just a matter of time before the whole thing sinks like the titanic. And by then I hope as many people as possible can join us on the rafts and move back to shore.