Oddbean

SUPERBITCOINIZATION IS ALREADY HERE “Normal” inflation is 2% per year. Or roughly 0.2% per month. And hyperinflation is 50% per month. So, we aren’t there yet. It’s all fine! But is it? What if we define something in between? Call it superinflation. Say superinflation is 5% per month. In that case… BTC has appreciated >20000% vs USD. Over a ten year period. That’s a monthly rate of >8.6%. That means the dollar has devalued against Bitcoin by more than 5% per month on average for ten years. So: yes, hyperbitcoinization hasn’t hit yet. But superbitcoinization is already here. We’ve been living through it. https://image.nostr.build/716a38d1ffbfbc352c669e6cbf9e61ac3a539730c4549c6b7671e1828690c19c.jpg

https://image.nostr.build/64713e88007fcb02e44f9390c7c8d5f23092c38b5ba8c4c0c3cd0dd4b6506b80.jpg#m=image%2Fjpeg&dim=1080x530&blurhash=ZjS%3D3YXmuPrYbuWUV%3Ff%25ogoJkqX8aejEjYkCaya%23pdi_VXW.aKogogjGWng4a1jEkVkWbcaekBj%3F&x=6546a66fc7f55257e75b51774393623c55576af531233db9e010ccaea6f279af

@tunneljew Hi, I am among the unfortunate victims of the FTX scam, a situation that has resulted in the loss of my entire savings, totaling around $20,000. The distressing aspect of this ordeal is not just the financial loss but the subsequent actions taken by SBF and Sullivan & Cromwell, the involved debtors. Following the success of their global heist, it appears that, rather than working towards justice for the affected customers, they are prioritizing their own interests, demonstrating a complete disregard for the well-being of those who have suffered. To witness such blatant exploitation of innocent people for personal gain is not only disheartening but also raises concerns about the moral and ethical compass of those involved. Their actions can only be described as mentally and spiritually sick, going beyond mere financial misconduct. The significance of this situation cannot be overstated for me, as the funds lost were an integral part of my financial stability. I am reaching out to you with the hope that you might consider extending a helping hand during this challenging time. Any assistance however small that you could provide to navigate through the complexities of this situation would be immensely appreciated. I believe in the power of collective compassion and the willingness of individuals to make a difference in the lives of those facing adversity. I understand that you may have your own commitments and limitations, but even the smallest gesture can have a meaningful impact. Thank you for taking the time to read my plea, and I sincerely hope that you may find it in your heart to offer assistance during this trying period. Your kindness will not be forgotten, and I am immensely grateful for any support you can provide. Lightning Address : appealforassistanceftxscamvictim@geyser.fund BTC : bc1q9vfmfwj6av9pxj50r6xyl652mwhqvw5ds86nw2

the purpose of currencies is to make sure commodities don't catch the deflationary trend .. I mean if you transacted in assets ( gold or btc) ; the mass manufactured commodities would soon hit the rock bottom. Because commodities are the lowest value per unit .. which means no incentive for producing wheat unless it becomes scarece. you don't want people to fight for food .. Thus comparing assets to currencies ain't a good idea .. we need to strive for better currencies (eg USD stables) as much as we strive to have sound assets ( eg btc) Assets and Currencies are two wheels of a cart .. it is efficient to run economy on two wheels rather than just one ! Sound Currencies protect the poor. Sound Assets support the rich . Both are necessary . Keyword here is "sound" - corruption is possible in both .

Even a sound currency ( say USD) is by definition permissioned , censored and without consent. As opposite to a sound asset which is quite the opposite. Through controls, currencies bring stability to commodity prices .. to allow long term investment in commodities irrespective of demand forecasts. They provide credit and liquidity in market place. And most importantly, they fight deflation. Arbitrary controls allow the issuer of currency to navigate the economy in a desired direction - good or bad depends on the driver .. some currencies will fail sooner .. good will last longer .. but ultimately they too must evolve or die. Store of value is supposed to protect the wealth for longer horizons .. time scales of thousands of years plus .. eg Gold . It too must evolve but that evolution cycl s in the range of thousands of years . eg Gold is now evolving into digital form BTC .

The btc/gbp price has risen by over 80% in the last 6 months. Meanwhile the UK has just confirmed it is in recession. The UK fell into a recession after it raised interest rates to above 5% in 2023 in order to tame inflation. However, btc/gbp is one measure of inflation [1] that the UK gov cannot properly tamper with. The cat is out of the bag in other words. With the UK's next election being held no later than 2025 and the elevated cost of borrowing dragging on the economy, the Bank of England will surely turn to lowering interest rates (and QE) to stimulate growth. This will (again) set the fire alarm off that is btc/gbp, which could be set to soar in the 18 months ahead, and for the rest of time. #bitcoin #GBP #UK 🇬🇧 [1] nostr:nevent1qqs86erhle0jxsyg97mmdmt66zucu4pnl340f8rp5r74vj2ltr3uj3cpp4mhxue69uhkummn9ekx7mqzyqm8xtxrtljkrpd0rvg3vz3e84k88g07g8wlzxzvzqu5c2x2t438kqcyqqqqqqgufh2xp

Aaaand he's gone. Only lasted a day. nostr:nevent1qqs86erhle0jxsyg97mmdmt66zucu4pnl340f8rp5r74vj2ltr3uj3cpp4mhxue69uhkummn9ekx7mqzyqm8xtxrtljkrpd0rvg3vz3e84k88g07g8wlzxzvzqu5c2x2t438kqcyqqqqqqgufh2xp