MONEY IS MOVING TO THE INTERNET & THE U.S. IS CONFRONTED W/ A CHOICE THAT MAY DICTATE THE NATION'S PROSPERITY OR DECLINE.
A Thread by 2 🇺🇸 #Firefighters.
cc:@JoeBiden @APompliano @Dennis_Porter_ @CaitlinLong_ @TuckerCarlson @PrestonPysh @VailshireCap @MartyBent @LawrenceLepard
A Thread by 2 🇺🇸 #Firefighters.
cc:@JoeBiden @APompliano @Dennis_Porter_ @CaitlinLong_ @TuckerCarlson @PrestonPysh @VailshireCap @MartyBent @LawrenceLepard
What does it meant to say "money is moving to the internet"?
Isn't it already there?
The answer is NO.
2/24
Isn't it already there?
The answer is NO.
2/24
There are key differences between natively digital...and analog uploaded to the digital.
Our current monetary system is the latter.
Legacy financial rails have been transposed on the internet, but true settlement remains antiquated, slow, and dependent on intermediaries.
3/24
Our current monetary system is the latter.
Legacy financial rails have been transposed on the internet, but true settlement remains antiquated, slow, and dependent on intermediaries.
3/24
We GUARANTEE this👇
In 2050, markets won't be closing at 4pm & banks from around the world won't be reaching final settlement in days to weeks via the SWIFT network...while using nearly 200 different fiat currencies...all with different exchange rates.
Innovation is here.
4/24
In 2050, markets won't be closing at 4pm & banks from around the world won't be reaching final settlement in days to weeks via the SWIFT network...while using nearly 200 different fiat currencies...all with different exchange rates.
Innovation is here.
4/24
Satoshi Nakamoto changed EVERYTHING by releasing the #BTC protocol in 2009.
He presenting a solution to a decades long problem — allowing for decentralized trust, security & automation in the form of NATIVELY digital money.
The internet of value is here (h/t🧢@aantonop).
5/24
He presenting a solution to a decades long problem — allowing for decentralized trust, security & automation in the form of NATIVELY digital money.
The internet of value is here (h/t🧢@aantonop).
5/24
Other protocols & coins will continue to harness & copy aspects of #BTC.
Most poignantly, all major nation states are working on Central Bank Digital Currencies built on blockchains.
When it comes to CBDCs, we must ask a MONUMENTALLY important question...
6/24
Most poignantly, all major nation states are working on Central Bank Digital Currencies built on blockchains.
When it comes to CBDCs, we must ask a MONUMENTALLY important question...
6/24
👉 JUST BECAUSE WE CAN...SHOULD WE?? 🤔
In our view, moving toward a 'CBDC Standard' of sorts represents an existential threat to both the PROSPERITY and IDEOLOGY of the United States.
7/24
In our view, moving toward a 'CBDC Standard' of sorts represents an existential threat to both the PROSPERITY and IDEOLOGY of the United States.
7/24
First, CBDCs threaten American IDEOLOGY:
Although wildly imperfect (and we would argue trending in a precarious direction), this great nation represents one of the most successful embodiments of freedom, equality and centralized restraint in human governance history.
8/24
Although wildly imperfect (and we would argue trending in a precarious direction), this great nation represents one of the most successful embodiments of freedom, equality and centralized restraint in human governance history.
8/24
Through balance of power, checks & balances, strong rule of law, and a well designed set of codified rules (i.e. The Constitution/Bill of Rights), this nation has, by and large, been able to protect individual sovereignty & human rights (at least comparatively speaking).
9/24
9/24
Central Bank Digital Currencies (CBDCs) have the potential to subvert fundamental American beliefs and axioms.
Use of such centralized monetary surveillance technologies gives an UNPRECEDENTED and terrifying level of oversight and control to policymakers & central banks.
10/24
Use of such centralized monetary surveillance technologies gives an UNPRECEDENTED and terrifying level of oversight and control to policymakers & central banks.
10/24
Personalized inflation.
Financial censorship.
Social credit system.
Expiration of money.
Just a few examples of what centralized, programmable government money could mean in the 21st c.
(👆Credit @APompliano, read his piece below for more depth)
pomp.substack.com/p/central-bank…
11/24
Financial censorship.
Social credit system.
Expiration of money.
Just a few examples of what centralized, programmable government money could mean in the 21st c.
(👆Credit @APompliano, read his piece below for more depth)
pomp.substack.com/p/central-bank…
11/24
Value transfer lies at the very FOUNDATION of human organization & interaction.
Control the money; control the people.
We must ask not what this technology will do next year, but 20, 50, 100 yrs from now — in the hands of ALL leaders, benevolent and malevolent alike.
12/24
Control the money; control the people.
We must ask not what this technology will do next year, but 20, 50, 100 yrs from now — in the hands of ALL leaders, benevolent and malevolent alike.
12/24
Second, CBDCs threaten American PROSPERITY.
Fiat money is unequivocally in decline, and CBDCs only exacerbate fiat vulnerabilities & weaknesses.
#Bitcoin is calling the bluff on a 50 year experiment of paper money backed by nothing.
13/24
Fiat money is unequivocally in decline, and CBDCs only exacerbate fiat vulnerabilities & weaknesses.
#Bitcoin is calling the bluff on a 50 year experiment of paper money backed by nothing.
13/24
We are in the beginning rounds of watching the HARDEST money in human hx compete with one of the SOFTEST monies in human history.
“History shows it is not possible to insulate yourself from the consequences of others holding money that is harder than yours.”
—@saifedean
14/24
“History shows it is not possible to insulate yourself from the consequences of others holding money that is harder than yours.”
—@saifedean
14/24
Centuries demonstrate that in the monetary realm, SOUNDNESS MATTERS.
Decades demonstrate that in the digital realm, NETWORK EFFECTS MATTER.
#Bitcoin will continue to harness & manifest these 2 EXPONENTIAL realities.
15/24
Decades demonstrate that in the digital realm, NETWORK EFFECTS MATTER.
#Bitcoin will continue to harness & manifest these 2 EXPONENTIAL realities.
15/24
We sit at the dawn of the Digital Age, and we believe it's fitting to characterize #Bitcoin as a new EMPIRE of sorts.
"As is typical, the returns of investment assets in the declining empire fall relative to the returns of investing in the rising empire."
—@RayDalio
16/24
"As is typical, the returns of investment assets in the declining empire fall relative to the returns of investing in the rising empire."
—@RayDalio
16/24
Whether gov'ts & central banks prefer it or not, progressive innovations including microprocessing, the internet protocol stack, cryptography, proof of work, & the discovery of absolute scarcity have unearthed a brand new & immensely powerful digital commodity money: #BTC.
17/24
17/24
#Bitcoin has a plethora of attributes that prepare it to compete, thrive, and win on the free market.
A study of #BTC shows that the game theory is ROBUST to put it mildly.
It's an apex monetary predator...destined to survive in a game of economic natural selection.
18/24
A study of #BTC shows that the game theory is ROBUST to put it mildly.
It's an apex monetary predator...destined to survive in a game of economic natural selection.
18/24
When you zoom out, you can see that reserve currencies rise & fall like the tide.
What will come next after USD? Renminbi? Ruble?
We hope & expect not.
The days of state controlled money are numbered (as @jack points out). LET'S PREPARE!!
19/24
What will come next after USD? Renminbi? Ruble?
We hope & expect not.
The days of state controlled money are numbered (as @jack points out). LET'S PREPARE!!
https://twitter.com/jack/status/1501733760970207233?s=20&t=ZZiOHh1ptx_n8HTjf2GHIw
19/24
Landing on the wrong side of economic paradigm shifts has DIRE consequences.
Even if CBDCs transpire, it's vital for all (nation states included) to hedge the fragile fiat ponzi by embracing the superior alternative & drawing in innovation tied to it.
(h/t🧢@FossGregfoss)
20/24
Even if CBDCs transpire, it's vital for all (nation states included) to hedge the fragile fiat ponzi by embracing the superior alternative & drawing in innovation tied to it.
(h/t🧢@FossGregfoss)
20/24
Ultimately, #Bitcoin presents an almost MIRACULOUS opportunity for the United States.
An acceptance of this innovation gives this nation a chance to BOTH imbue its deepest values AND prosper while doing so.
21/24
An acceptance of this innovation gives this nation a chance to BOTH imbue its deepest values AND prosper while doing so.
21/24
#BTC is HAPPENING whether anyone likes it or not. It's an "innovation thats time has come." (@mikealfred)
You can't beat it, so join it.
#Bitcoin is the best "adversary" $USD could have ever hoped for.
As @nic__carter has said...
"#Bitcoin is as American as apple pie."
22/24
You can't beat it, so join it.
#Bitcoin is the best "adversary" $USD could have ever hoped for.
As @nic__carter has said...
"#Bitcoin is as American as apple pie."
22/24
Ideas above informed by these pieces🙏👇
"BTC & The American Idea" by @gladstein
bitcoinmagazine.com/culture/bitcoi…
"What is Money, Anyway" by @LynAldenContact
lynalden.com/what-is-money/
"CBDCs [...&] Violations Of Human Rights In History" by @APompliano
pomp.substack.com/p/central-bank…
23/24
"BTC & The American Idea" by @gladstein
bitcoinmagazine.com/culture/bitcoi…
"What is Money, Anyway" by @LynAldenContact
lynalden.com/what-is-money/
"CBDCs [...&] Violations Of Human Rights In History" by @APompliano
pomp.substack.com/p/central-bank…
23/24
If you enjoyed this thread and want to hear more of our ideas, check out weekly discussions on the 'Blue Collar #Bitcoin Podcast' w/ thought leaders in #Bitcoin, economics & finance.
podcasts.apple.com/id/podcast/blu…
24/24
podcasts.apple.com/id/podcast/blu…
24/24
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