Posted on 03/01/2024 12:11:36 PM PST by Jumper
I was asked a lot of questions by people on FR about what BTC is or ways to learn more about it. I have provided the Source URL above for such a video.
Michael Sailor gave slide briefing that essentially started out covering the tope of Money over the past and into the future. Fiat Currencies of the US have depriciated by 7% per year for the past 100 years. 100 years from now a million dollars in a safe will have a purchasing power of only $977, if you put it in the S&P 500, it would still be worth a million. In any single trading year there is only 24-hours where all profits are made. You cannot time the market. You must choose the best in every class to win. The winners take all. If you are interested in what Michael Sailor said then google it on youtube and listen to him.
There are still holdouts trying desperately not to understand it, but it's not hard to see why. The dollar is being mismanaged and government spending is driving inflation as ever more dollars need to be released to fund the governments' debts. Bitcoin is scarce, counterfeit-proof and censorship-proof and can be used worldwide, without the political baggage that the dollar is accumulating.
Twenty years from now, maybe even just 10 the way things are going, the dollar will be gone. Bitcoin looks to be the most likely replacement.
It's not hard: Bitcoin White Paper
You can skim the math if you want, and still get a pretty good grasp of it. The dollar is dying. In the past it survived because the alternatives were just as crappy and corrupt as it is. With bitcoin we have decentralization that does not require trust, proven scarcity (in stark contrast to worthless fiat), political neutrality, censorship resistance, the ability for anyone to send money anywhere in the world without delays or restrictions, and so much more. Dismissing that as "tulips" is just ignorant.
BTC is setting record highs in part due to the fiat printing.
It always ends up in high risk assets.
With the brokerages offering BTC spot markets-
it looks like everyone all aboard before we yank the carpet out.
No, inflation has not been 7%/yr for 100yrs.
You’re a bright guy, no need for hyperbolic exaggeration to sell something on it’s own merit.
Dollar death 98,743
$200,000,000,000,000 debt/unfunded liabilities-still borrowing at 4% with no suitable replacement existent on earth. The Euro barely left a dent. It’s going to take the Euros, Asians and BRICS cooperating to take down the dollar.
“Bitcoin is scarce, counterfeit-proof and censorship-proof and can be used worldwide,”
E-gold was digital currency actually backed by gold.
Until the govt felt threatened and took it out.
Conclusion=if the govt is not taking btc out-either it is not a threat to the USD or they have it under their control.
Your thoughts about this mirror my own. Gold is real, tangible and has been a store of value for many thousands of years. Bitcoin is a fad that may or may not endure.
fwiw-
commonalities of manias
1)Outrageous price predictions
2)Everyone and their grandmother is involved
3)Anyone can do it
It largely fails on all three or is nowhere near tulip mania , dotcom, housing bubble etc....yet.
The stuff will go to zero the minute the government becomes hostile to it.
If you think you can get around the government's control of currency, you are naive.
We’ve always expected a ban on bitcoin, but it’s not happening. Not with Wall Street as deeply involved as it is now. Too many lobbyists would be up in arms. Soon Microstrategy will be in the S&P500 and everyone with an SP500 index fund will find themselves holding bitcoin. So it looks like we won’t have the financial guerrilla warfare I expected. Bitcoins dominance is on track and the destruction of fiat currencies will come sooner than expected. Well, the destruction was happening anyway without bitcoin. But at least now there’s an escape pod. Which is probably why they know better than to ban it.
God forbid we get an EMP, or a supply chain collapse, but what happens to all that information stored on other people's computers?
The whole system seems rickety.
Unlike other forms of fiat currency, it is not something you can hold. Thus a flip of a switch that eliminates the internet means that it immediately becomes worthless, because you can't access it. That may be a reason to invest in a satellite phone, but at some point in time that could come under threat as well.
That is why we must save this nation at all costs. We cannot allow the forces of evil to become dominate in this world, which is what will occur when this nation falls.
Our real hope lies with the Lord. Trump is leading the charge, but only because he was born for this mission, if you understand what I am saying. Faith becomes oh so important in all times, but even more so in these times .🙂 👍
BOA announced the USG is adding 1T in debt every 90 to 100 days. Gold has lost 40% of its invested value over last 10 years.
DCG has dumped their last turd. Greyscale dumped 1/2B Friday. They have dumped 1/3 or 9B in BTC.
The markets are absorbing it all. The over the counter desks/exchanges have actually at different points in time, and no drop in BT. Value.
All the people saying it will drop don’t have it. Some are waiting for it to drop.
BTC is rising.
Eloquently stated.
There is certainly no easy answer to the incredible mess that our government has created for us. Gold, with all of its inconveniences, is the best solution that I can come up with for an ordinary chap like myself to protect hardgained wealth and property. No guarantee of course. But some available gold, frugality, arms, and a distrust of anything coming from the government help me keep my sanity — in this insane world.
Not trying to argue or debate, but would you trust JP Morgan after their conviction and huge fine for manipulating the silver market?
My point is that there are always criminal actors whenever large amounts of money are involved. Even in highly regulated markets.
It’s both. At least for now.
China banned it several years ago. Other countries are trying to regulate it.
I guess the point is that it is not tied to any government.
Now, years later, Hong Kong is on the brink of establishing a spot ETF. That would open it to the financial capital of the East.
If we have an EMP all of the money you have in the bank or investments, would disappear along with it. In that case, we have a lot more to worry about.
The thing about Bitcoin is that as long as there are six nodes left (an EMP would not be world wide) you could recover your bitcoin as long as you had the private keys to your holdings.
Can your bank say that?
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