My economics thesis professor encouraged graduate work for me, admitting after four years of study that everything I'd just learned didn't work in the real world, and that there was opportunity to contribute to the field if I continued.
He was right, and so was I not wasting more time and energy on failed Keynsian theory.
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The "no intrinsic value" crowd gets an "A" in western business school, but an "F" in reality.
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"Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” ― Albert Einstein.
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The SEC is a sore loser.
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Are you saying that rising frequency of local adoption, and the separation of money and state, is more important for the price than Americans introducing a new, lower fee, regulated, custodied on-ramp? (Because I don't think you don't care about price.)
In the first world, bitcoin is mostly a investment and store of value. In other places, it is more than that.
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I always fancied myself as a contrarian, thinking different. There is an elitism to it, and a comfort. I'm smarter than the next person. I'm making better decisions. Others don't understand, and I'll be proven right in time. But, alternatively, is reality rather that I have gotten lucky and I've deluded myself with ego and confirmation bias? Have I underestimated the power of the majority to shape the world's beliefs, and reward a different set of thoughts and behaviors that can defy my beliefs?
Because, everyone is getting excited about the US spot ETFs. But does anyone know a US investor looking for a new store of value or medium of exchange? The US stock and bond markets are roaring. So, who knows, maybe some allocate a little to bitcoin given the new-found convenience, influenced by ads, headlines, marketing and number go up.
But, will anyone gain the conviction necessary to gain traction necessary for lasting change? Will their minds escape the trap of central control?
I guess we will find out, but I'm increasingly thinking the ETF is really a pretty non-consequential blip in the arc of true bitcoin adoption, where people are valuing the ledger as a borderless, immutable, neutral source of truth and communication. At present, price would indicate the chance of this as pretty small. But I'm a contrarian.
Just remember, #bitcoin ETFs are the enemy of self custody and the individual freedom it supports.
If ETFs gain in popularity, education will be substituted with simple soundbites and 30 second commercials. Normies won't be converted to maxis, so much as retained in a system of control.
Approving all of the ETFs in noisy and spectacular fashion, framing them ultimately as the on-ramp to modern riches, is a savvy chess move of the ruling class who care mostly about control. It leverages "number go up" to the benefit of central authority.
The key is: how does the bitcoin community use its new-found wealth? Do influencers buy Lamborghinis, or do they find ways to spread freedom?
@ODELL
Aantonop is a legend.
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"Your support of #bitcoin puts you in the same category as the framers of the [US] Constiturion, that gave us that Bill of Rights...you are the current manifestation of that impulse." -RFKjr
I think many people still think USD is backed by gold! 🤣 (why is that?)
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Everyone always asks "what is #bitcoin?"
Lots of great answers, from technical, to philosophical, to economic..
Reflecting humility, I always used to say "...at the end of the day, it is a huge social experiment."
Now, I simply think "Bitcoin is power."
Elon will run it into the ground, and find some sucker to come bail him out. If it goes like other ventures, he might even find some way for the US taxpayer to fund his failures.
Crises is ripping across the frontier markets. #bitcoin
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Fiat's degradation of retailing, in one video.
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Everyone is focused on #bitcoin price as a measure of success.
But bitcoin hashrate is hitting ATHs, and is a proxy for the physical power securing the network, and people's confidence in the same.
And, then there is the INCREASE in hashrate, importantly signaling the network's growing power and physical strength.
This growing power is forcing the ruling class to bend to its will, slowly but surely, over time.
More banks, governments, politicians, investment managers, etc, are pro-Bitcoin. Not because they want it. Because they need it to survive.
It is no wonder those that feel oppressed at the hand of the ruling class, globally, are also first adopters of the technology and jumping on the bandwagon.
Bottom line: Bitcoin, by creating incentives to harness and deploy energy, delivers the power and show of strength to reset society, without death, injury, or one drop of blood.
Satoshi deserves the Nobel Peace Prize. And, we are all Satoshi.
We stand on the shoulders of giants.
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Much like there are strategic geographies on the world stage, those with #bitcoin hashrate will also find themselves strategically important players in the future.
Expect #Bitcoin hashrate to grow exponentially, together with fees, as people realize the value of preferred access to the world's most secure and immutable ledger. It is all just starting.
Unless facing a huge liquidity event, I don't think he is selling. Ever. He's said he will first borrow against the bitcoin. He has also implied, at least for his personal bag, that the greatest charitable gift he could give the community is dying without passing on his private keys.
In upcoming broadcasts, can you cover Ocean, and it's role in the competition for scarce block space, aligning hashrate with the monetary use case for the network (versus bigger pools, whose incentives diverge)?
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