The “value” that #bitcoin produces and offers to the world is that it is a constant in the economic marketplace.
Its promise is to NEVER CHANGE.
The rules now = the rules forever.
Why?
So participants in that marketplace can trade equitably, which incentivizes them to provide real value.
That improves the quality of the products and makes prices go down.
This incentivizes to keep on improving.
And so on.
Fueling a marketplace with money that constantly loses value over time leads to lower quality because that is what that money incentivizes.
It makes the future more unpredictable.
This makes people consumers. Not builders.
Builders make us progress and innovate.
Which makes prices go down and living standards go up.
Scarce constant money = abundance in everything else.
Study #bitcoin
s/o to Jesse Myers for sharpening my thoughts today 🙏
We recorded a 90-minute podcast today.
It was GOOD 👌
Look forward to listening. Jesse a big part of my learning journey as well
To your point re never changing: I like thinking of Bitcoin as a measuring stick for value, the best we’ve ever had, akin to a ruler for length, or thermometer for temperature
Oddbean new post about login | logout