, 14 tweets, 4 min read Read on Twitter
1/ If you have a net worth over $1 Million and own 0 Bitcoin, you need to read this.
2/ Bitcoin is the next and final evolution of money. It will usher in a new economic paradigm that will fundamentally disrupt the existing fiat banking system.
3/ Bitcoin has a radical built in incentive mechanism. It's called scarcity. Almost nothing in life is absolutely scarce other than loved ones, fine art and Bitcoin.
4/ Thought Experiment: if you were given $100k and you could not trade or sell it for the next 20 years, what asset would you put it in: Cash (USD), S&P 500, Gold, Real Estate, or Bitcoin?
5/ What's your answer? Doesn't matter, because nobody chooses cash.
6/ Fiat currency has already failed. Nobody wants to hold fiat. Today, wealth is stored in three main categories.
- Real Estate ($217 Trillion)
- Equities ($73 Trillion)
- Bonds ($215 Trillion)
7/ Starting with Real Estate, in a bitcoin only world, there will be drastically less debt. Which means far less mortgages, which means less demand for RE. Additionally, the price of RE quoted in BTC will likely fall over time.
8/ Next with equities. There are many "zombie companies" in the S&P 500 who are living off low interest rates and cheap credit. They are inefficient and will be wiped out, replaced by innovative startups with new products, and new technologies we cannot possibly imagine.
9/ Last is bonds. All bonds denominated in currencies other than BTC will end in a massive debt jubilee. Bond owners will be repaid the inflationary worthless fiat, while the rest of the world becomes debt free. It will be the end of debt slavery.
10/ Bitcoin brings in a new economic paradigm. It will be a period of abundance, antimaterialistic, and anticonsumerism. Individuals will save and invest rather than buying useless goods. We are on the cusp of a new renaissance.
11/ Growth rates will be huge, and entrepreneurialism will reach all-time highs. Profits will be hard to come by, but they will come to those that are smart, creative and solve real problems.
12/ In a bitcoin world, the best asset you can own will be bitcoin. If you're still at 0 BTC, get off zero and #BuyBitcoin. Protect yourself and your worthless paper assets.
13/ Thanks to @BitcoinTina and @danheld for the help writing this thread.
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