1/ Big-brained @Slate journalists write that Bitcoin is "just a crappy tech stock" and think that its purpose is "absolutely nothing"
Where to begin?
First, Bitcoin has completely destroyed tech stocks over the past decade.
AMZN is up 16x since January 2012.
Bitcoin? ~3,500x
Where to begin?
First, Bitcoin has completely destroyed tech stocks over the past decade.
AMZN is up 16x since January 2012.
Bitcoin? ~3,500x
https://twitter.com/mjs_DC/status/1485983156209700865
2/ Unlike tech stocks, Bitcoin is open to anyone in the world with an internet connection.
It is open and inclusive technology, and cannot exclude by its very nature.
Palestinians, Cubans, Iranians, and Nigerians can't buy US tech stocks -- but they can buy Bitcoin.
It is open and inclusive technology, and cannot exclude by its very nature.
Palestinians, Cubans, Iranians, and Nigerians can't buy US tech stocks -- but they can buy Bitcoin.
3/ Unlike gold, BTC can teleport anywhere on earth instantly and cheaply, courtesy Lightning.
And unlike gold most BTC is held by individuals, NOT governments + big banks.
It's not centralized in one place and thus can't be demonetized or have its spot price suppressed for long
And unlike gold most BTC is held by individuals, NOT governments + big banks.
It's not centralized in one place and thus can't be demonetized or have its spot price suppressed for long
4/ Author @JHWeissmann argues BTC is not an inflation hedge because it recently crashed.
Actually, Bitcoin crashed right as the world's most powerful central bank started hinting that it would raise interest rates.
Something that you'd expect an "inflation hedge" to do.
Actually, Bitcoin crashed right as the world's most powerful central bank started hinting that it would raise interest rates.
Something that you'd expect an "inflation hedge" to do.
5/ The question you have to ask is: what is the likelihood that the Fed will raise rates and taper asset purchases for years on end?
It's true, that would not be a great macro environment for Bitcoin.
It's true, that would not be a great macro environment for Bitcoin.
6/ But the chances of that happening in an age when the President and Congress need the stock market to do well to win elections, are very low.
We should expect inflationary policies over the next decade and for Bitcoin to continue to act over time as a superb inflation hedge.
We should expect inflationary policies over the next decade and for Bitcoin to continue to act over time as a superb inflation hedge.
7/ It's worth pondering the America-centric view of the Slate author.
As if EVERYONE can just buy tech stocks.
But such a tiny percentage of the world population can access US tech stocks, or even things like real estate or HQ bonds.
Billions can't.
As if EVERYONE can just buy tech stocks.
But such a tiny percentage of the world population can access US tech stocks, or even things like real estate or HQ bonds.
Billions can't.
8/ But they *can* use Bitcoin to hedge inflation.
They can access a non-discriminatory asset that is up 4x in the last 18 months and 40x in the last 5 years.
One that doesn't care about your beliefs, nationality, or level of wealth.
One that will help you when no one else will
They can access a non-discriminatory asset that is up 4x in the last 18 months and 40x in the last 5 years.
One that doesn't care about your beliefs, nationality, or level of wealth.
One that will help you when no one else will
9/ This is evidently lost on the MSM, which continues to tell the public that BTC is a bad inflation hedge (wrong), and that it's worthless and useless (also wrong: tens of millions of people in emerging markets use BTC)
Thankfully, we can opt out of the gaslighting with Plan ₿
Thankfully, we can opt out of the gaslighting with Plan ₿
• • •
Missing some Tweet in this thread? You can try to
force a refresh
