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.
“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.
The price of a BTC represents all of the money deposited divided by 21M, adjusted for inflation.
When you look at it like that.. the real question is how much money is going to get deposited.”
🏦
In conversation w/ @saifedean for The Bitcoin Standard podcast, Saylor recounts the unconfiscatable nature of bitcoin:
"I had this epiphany...I just took $500K of cash that someone can burn & steal and I put it into a vault of encrypted energy, and now they can’t get at it."
🔒
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Satoshi Nakamoto cites eight references in the Bitcoin white paper that influenced the Bitcoin protocol's design.
This thread explores each one and its significance.
For context, the Bitcoin protocol combines several existing tools, technologies, and procedures in a novel way.
1/ ‘b-money’ by Wei Dai is the very first reference listed:
“efficient cooperation requires a medium of exchange (money) and a way to enforce contracts. I describe a protocol by which these services can be provided.”
Dai would also be one of the first people Nakamoto contacted regarding the proposal of Bitcoin.
As #Bitcoin adoption continues its relentless march, so too does the onslaught of misconceptions, red herrings, and illogical arguments. The result of ignorance, malice, or fear.
A thread of the most common regurgitated fallacies:
"Bitcoin is a radical break from the past. Understanding the way traditional money works doesn’t help you understand bitcoin.
If anything, it hinders it.
The people who understand bitcoin the least are monetary economists. They cannot wrap their heads around it."
—Andreas M. Antonopoulos
There appears to be an endless list of critiques and criticisms levied against bitcoin. But they generally fall into three distinct buckets.