1/ #Bitcoin is the first real money humans have ever discovered.
Its near perfect monetary properties combined with the immutable constant of 21 million coins will make its future value near astronomical 🚀.
$50M+ $BTC by 2040 is very reasonable.
Its near perfect monetary properties combined with the immutable constant of 21 million coins will make its future value near astronomical 🚀.
$50M+ $BTC by 2040 is very reasonable.
2/ Lets recap what “money” is.
Money is an economic good. Humans have tried to use other goods as money in the past, but they are far from perfect.
Salt, shells, glass beads, Rai stones, gold, paper, and debt have all been tried to be used as money.
Money is an economic good. Humans have tried to use other goods as money in the past, but they are far from perfect.
Salt, shells, glass beads, Rai stones, gold, paper, and debt have all been tried to be used as money.
3/ We can evaluate if a good will be chosen to become “money” by looking at monetary properties.
The best good becomes a natural Schelling point.
Its value is not a “collective hallucination”. It's based on convergence of a good with unique properties.
The best good becomes a natural Schelling point.
Its value is not a “collective hallucination”. It's based on convergence of a good with unique properties.
https://twitter.com/IIICapital/status/1138110456244178945?s=20
4/ #Bitcoin’s value increases rapidly over time due to society understanding what happens when they HODL the best monetary good that has infinitely increasing programmatic scarcity (s2f).
“Number Go Up” Technology 📈📈📈
“Number Go Up” Technology 📈📈📈
5/ You can do 3 things with #Bitcoin.
1. Invest it (to earn more $BTC).
2. Spend it (to consume today).
3. Save it.
1. Invest it (to earn more $BTC).
2. Spend it (to consume today).
3. Save it.
6/ Investing #Bitcoin successfully will be incredibly difficult. 99.9% of people will likely not have traditional investments as they have no real edge or alpha opportunity among 7.9B other market actors.
7/ This means that $BTC will be HODL'd and the price must increase until a HODLer sees a good risk-adjusted opportunity to invest today (if they ever decide to).
8/ Spending #Bitcoin will also be discouraged as we all know the future purchasing power will continue to increase forever.
This means that $BTC will be HODL'd and price must increase until a HODLer sees a valid reason to consume today.
This means that $BTC will be HODL'd and price must increase until a HODLer sees a valid reason to consume today.
9/ Perfect scarcity and a strong incentive to HODL will push the price up until HODLers have a desire to invest or consume.
It is possible that by 2050, society will be more advanced than ever, but only have an estimated global wealth of 22.1M $BTC.
It is possible that by 2050, society will be more advanced than ever, but only have an estimated global wealth of 22.1M $BTC.
10/ How can this be?
21M $BTC + 1.1M $BTC worth of equities, real estate, etc.
Equities and RE will exist, but they won't be "stores of value".
They will only be there for consumption or short term $BTC denominated alpha because the price of everything will trend to 0 sats.
21M $BTC + 1.1M $BTC worth of equities, real estate, etc.
Equities and RE will exist, but they won't be "stores of value".
They will only be there for consumption or short term $BTC denominated alpha because the price of everything will trend to 0 sats.
11/ In the end, we’re all underestimating how much #Bitcoin will change the world.
$1M $BTC is only the beginning.
$1M $BTC is only the beginning.
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