Anil Profile picture
22 Feb, 6 tweets, 4 min read
Few have grasped the magnitude and inevitability of Bitcoin in such a brief period of time.

Fewer still have been able to explain the current monetary environment to a wide audience with such ease and clarity.

@michael_saylor is the Richard Feynman of Bitcoin.
Speaking to @RealVision, Saylor laid out his concerns with the current rate of monetary expansion:

"I came to the horrifying conclusion that I’m sitting on a $500M ice cube that’s melting. It’s melting at 6% in a good year. Then you realize this year it’s melting at 25%."

In an interview with @KeithMcCullogh, Saylor cautions against financial models that fail to account for the adoption of new networks:

“What happens if 10 billionaires decide to buy $1B of bitcoin each and announce it…all of your models are destroyed, completely devastated.“

In a brief tweet on Feb 5th, Saylor offers bitcoin as a system of measurement, due to its perfect scarcity.

Bitcoin is now the most precise method we have for measuring value across time.

In a interview with @Scaramucci for @SALTConference:

“The entire thing is like a massive monetary battery..
I can take $100m of monetary energy, put it into the Bitcoin network and it will sit there for as long as you can imagine with zero power loss.”

Speaking with @APompliano, Saylor describes the network effects of dematerializing something fundamental:

”There's never been an example of a $100b dollar monster digital network that was vanquished once it got to that dominant position.

Bitcoin is the monetary network."


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More from @anilsaidso

15 Feb
1/ “When a nation's money is no longer a source of security, and when inflation has become the concern of an entire people, it is natural to turn to…other societies who have already undergone this most tragic and upsetting of human experiences.”

2/ “The agony of inflation, however prolonged, is perhaps somewhat similar to acute pain — totally absorbing, demanding complete attention while it lasts; forgotten or ignorable when it has gone..”
3/ “In the eight years since 1913, the price of rye bread had risen by 13 times; of beef by 17. Sugar, milk, pork and even potatoes had risen between 23 and 28 times; butter had gone up by 33 times.

These were only the official prices — real prices were often a third higher”
Read 25 tweets
26 Jan
'The Lessons of History' by Will & Ariel Durant is a masterclass in the predictability of human nature.

It teaches us what changes over time and what remains constant. Use it to guide your thinking.

“In every age men have been dishonest and governments have been corrupt.”

1/ “Generations of men establish a growing mastery over the earth, but they are destined to become fossils in its soil.

Human history is a brief spot in space, and its first lesson is modesty.”
2/ “life is competition. peaceful when food abounds, violent when the mouths outrun the food.

We are acquisitive, greedy, and pugnacious because our blood remembers millenniums through which our forebears had to chase and fight and kill in order to survive.”
Read 55 tweets
29 Dec 20
To appreciate Bitcoin's potential you must first understand why societies converge on a single form of money.

No essay argues this more convincingly than ‘Bitcoin Obsoletes All Other Money’ by @parkeralewis

"All forms of money compete with each other for every exchange."

🧵👇 Image
“Think of each individual as a potential trading partner.

As individuals adopt the common medium as a standard of value, all existing participants in the monetary network gain new trading partners...

There is mutual benefit, and ultimately the range of choice expands.” Image
“Money represents the collective recognition that everyone benefits from the existence of a common language to communicate individual preferences. It aggregates and measures the preferences of all individuals within an economy, at any point in time..” Image
Read 16 tweets
14 Dec 20
A few months ago I recapped the thesis laid out by @JeffBooth in ‘The Price of Tomorrow’ explaining the effects of deflationary technology.

This thread covers the other half of the equation- inflationary money.

1/ “It wasn’t housing itself that caused the 2008 bubble. If it hadn’t been housing, it would have been somewhere else that easy credit was flowing to. The continuing rise of debt that cannot be paid back was at the heart of the housing crises & will be at the heart of the next.“
2/ “A bubble pops when people wake up and realize that the debt can never be paid off. At that point, credit is removed—and because easy credit was the main thing causing the run-up, assets collapse.”
Read 31 tweets
10 Dec 20
The Bitcoin Standard by @saifedean is arguably the most comprehensive book for explaining the value proposition and infallibility of Bitcoin in a fiat system.

This thread explores the relationship between money & time preference- the key to understanding incentives in our world.
The topics covered that are referenced in the book-
Sound money: “the money completely under the control of the person who earned it legitimately on the free market..

..makes service valuable to others the only avenue open for prosperity to anyone.."
Read 36 tweets
17 Nov 20
Asset classes are defined by the preferences of a generation. So how will the world's first digitally-native cohort behave?

Millennials get a lot of the attention, but the future of Bitcoin will one day be driven by Generation Z to see the asset through to its maturity.

Firstly, who is Gen Z? What are the generational boundaries?

There’s still much debate about the exact cut-off for millennials, but let’s take the @pewresearch definition of people born between 1997-2012. Making this cohort currently between 8 and 23 years of age.
Secondly, how significant is Gen Z in terms of size?
Read 30 tweets

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