Thread by @varunvithalani

In my mind, crypto's purpose in the world is simple:

Peg back all worlds currencies to something which is
1) not owned by country/company
2) is scarce
3) cannot be manupilated

Took me a while to get to this conclusion, but the answer for that peg is #Bitcoin

(1/7)

In 1971, Nixon took US dollar off the gold standard. Before that, every available USD used to require equivalent gold. All other currencies were pegged to USD after the world war.

What happened when USD got depegged from Gold? USD became the worlds reserve currency.

(2/7)

The world had a new ruler - USA.
Irrational money printing, devaluing purchasing power, all in the name of "reserve currency"

Why did no one do anything?
1. No alternative
2. Arms threat (reeling from effects of previous wars)

Now there is an answer for no.1 #Bitcoin

(3/7)

Sooner most other nations realize this, and collude, the faster they have a chance of levelling the playing field.

I don't think most Americans who invest in Bitcoin understand the power of Bitcoin. Bitcoin has the potential to take power away from America.

(4/7)

For something like this to happen, you either need an all out war OR a complete financial system collapse. 2022 has the recipe for both. Without such mad events, this revolution may be very slow. $BTC is currently valued in USD. It needs to flip for a fair monetary system.

(5/7)

Web3 on the other hand is a playground for VCs & geeks to create the new web OR kill banks. Lets face it, the tech isnt even ready yet & programmers are billionaires without a ready product. Not saying its a scam, but there are bigger problems to solve. Its a distraction.

(6/7)

I am yet not invested in $BTC.
Why? Took me a while to study everything & connect the dots.
Secondly, i cannot overlook the #Tether fraud.

TL;DR:
#Bitcoin is a lot more than an asset - its a hope of a new, fairer world.

(7/7)

@saylor @LynAldenContact @BackpackerFI @naval @nic__carter @CryptoWhale @jack