It's time for a thread.

$100 million for the price of one Bitcoin is a MASSIVELY conservative estimate.

Here's how: Current global wealth is measured at ~$900 trillion.

@Croesus_BTC

Michael Saylor does not fully understand Bitcoin.

He continues to judge the new system (Bitcoin) within the old system (the USD).

He says Bitcoin will be worth $13 million in 2045.

But he says you should practically put all possible dollars into BTC:

“
-Convert free cash flow to BTC
-Make BTC your primary treasury asset
-Convert excess earnings into BTC
-Utilize subsidized credit to invest in BTC
”

@saylor

Newsflash:

1) If an increasing amount of people are receiving dollars only to put them into Bitcoin as fast as possible, then logically, those people will stop desiring dollars at all and will instead simply demand BTC.

2) Economies converge on a single monetary good.

3) Bitcoin is the apex predator of all forms of money as it transfers value across space, scales, and time (the purpose of money) better than anything else.

4) There is no second best.

Bitcoin obsoletes the dollar and Bitcoin will not have a dollar price in 2045 for these exact reasons.

It is a fool’s errand to price Bitcoin’s value in the USD much like it is a fool’s errand to price a home’s value in the USD.

Additionally, Bitcoin obsoletes the modern day nation-state, but Saylor spent a good portion of his talk discussing what he thinks should be the United States Bitcoin Strategy (which has so many holes it deserves its own post).

But the main point is,

The nation-state model today exists on the basis that governments and central banks can monopolistically control and manipulate money to their will.

Bitcoin eliminates the ability for anybody to control and manipulate money.

Logically, as Bitcoin gets adopted, the government structure that runs on what Bitcoin eradicates comes crumbling down.

Governance will be radically transformed as a result. The new system does not look like the current system.

Something central banks and governments cannot control can never become a central thing.

Saylor demonstrates his lack of understanding with this single photo:
He states that, in 2045, Bitcoin will have a $250T market cap while money will have a $500T market cap.

And that is Saylor’s most fundamental misunderstanding.

Bitcoin is money. I certainly don't fully understand Bitcoin, nobody does, but judging a new system from the old system is shortsighted and lackadaisical, especially when discussing monetary systems.

Because some people think that $10 million for the price of one bitcoin is ludicrous...

It's time for a thread.

$100 million for the price of one #Bitcoin is a MASSIVELY conservative estimate.

Here's how: Current global wealth is measured at ~$900 trillion.

@Croesus_BTC

How Adolf Hitler really came to power.

They don't teach you this in school.

(THREAD) Adolf Hitler’s rise to power in 1933 has been blamed on a myriad of happenings and events, including the collapse of the Second Reich, the Weimar Republic, Weimar hyperinflation, political and economic strife, the Great Depression, the Treaty of Versailles, and a loss of Germanic pride and nationalism.

$100 million for the price of one #Bitcoin is a MASSIVELY conservative estimate.

Here’s how:

(THREAD) Current global wealth is measured at ~$900 trillion.

Every asset trends toward ZERO against #Bitcoin over time.

This is by design.

(THREAD) In the year 2000, you had to pay $0.10 for EACH text message you sent.

Today, with the development of smartphones and messaging apps, many people are able to send UNLIMITED text messages for FREE using internet-based messaging platforms.