“to survive and prosper in this world, man can either make the things he needs and wants, or he can take them. This was true thousands of years ago and it is true today. To use a modern linguistic framing of this notion; man can either perform work to satisfy his wants and needs, or…
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Today we explore a highly earned Guy’s Take for Dergigi’s “Bitcoin is Digital Scarcity” as well as using a core part of his framing to make sense of a few fundamental ideas behind Bitcoin. Recently as well I continue to run into the question, what is Bitcoin backed by? And I think this misses the…
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“To put it into perspective, this international monetary system based around centrally-managed fiat currency is only 16 years older than me. My father was 36 when the US went off the gold standard. When I grew up, after a period of financial hardship, I began collecting gold and silver coins as a kid; my father gave me silver coins as savings each year.
The Swiss dropped their gold standard when I was twelve years old, which was six years after Amazon was founded, and three years before Tesla was founded. The fiat/petrodollar standard is only four times older than bitcoin, and only two times older than the first internet browser. That’s pretty recent when you think about it like that.” – Lyn Alden
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“If a money (the most salable good) is easy to create more of, then any rational economic actor would just go out and create more money for herself, diluting the whole supply of it. If an asset has a monetary premium on top of its pure utility value, then it’s strongly incentivizing market participants to try to make more of it, and so only the forms of money that are the most resistant to debasement can withstand this challenge.” – Lyn Alden
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“Imposing limitations on monetary goods has always required tremendous amounts of time and energy, and trust. And yet, with all our efforts, we still have been unable to fix the supply of any of the modern monetary assets of the world. Someone, somewhere, has always found a way to increase the supply. Whether because of some emergency reason to protect the greater good, or out of sheer greed, or out of complete ignorance, humans have succeeded 100% of the time in debasing the monetary premiums of all goods in all of recorded human history.
And then, there was Bitcoin.” – Zach_of_Earth
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What if, sitting in the middle of a chaotic monetary environment, increasing capital controls, balkanizing political regimes, a failing petrodollar hegemony, collapsing institutional trust, increased sanctions & weaponized infrastructure, & aggressive, widespread inflation… there sat a global, neutral, decentralized, robust, & incorruptible network to store and transfer value? What would it look like if that…
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I promised, and it’s finally here. It’s time to get a little perspective, with the price at all time lows, exchanges and lending platforms imploding, a massive crypto deleveraging event, the Fed tightening, and the market heading into deep recession… HOW could you be bullish? Because I’m paying attention. It’s time to zoom out, focus our lens past all the noise, take a serious look at the past year in Bitcoin, to get a clearer picture of the cascading dominoes…
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“In a world awash in euphemisms and blatant lies, calling something by its proper name is rebellious in itself. Bitcoin is about freedom and self-sovereignty, not about asking for permission. It is about independence and verifiable truth; extreme ownership and responsibility; hope and human rights.
The best way to fight bad ideas and bad terminology is with good ideas and good terminology. Thus, we should all make an effort to call things by their proper names, try to understand their inner workings, and explain them in simple terms to others.” – DerGigi
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Completely left the intro and guy’s take section out of the publishing for last week’s episode, so figured I would drop it just for those who might like to listen. No ads or any breaks for this one since I screwed up, lol.
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“For those with the curiosity to look, Bitcoin has emerged as a vast and mysterious space to explore with treasures, dangers, and untold potential.” – Tomer Strolight
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