“Not everyone understands what a pyramid scheme actually is, what the warning signs may be, or why such schemes always fail […] The distinctions should be glaringly obvious, but because bitcoin is complex and the very idea of money is not well understood, it can easily be confused.” – Parker Lewis
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“Money is an intersubjective problem, and a choice to opt into one monetary medium is an explicit opt out of the other, which in turn causes one network to gain value (and utility) at the direct expense of another.” – Parker Lewis
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“To provide broader context, the Federal Reserve, the Bank of Japan and the European Central bank have collectively created $10 trillion dollars-worth of new money since the financial crisis, the equivalent of approximately $500,000 per bitcoin. Despite dollars, euro, yen and bitcoin all being digital, bitcoin is the only medium that is tangibly scarce and the only one with inherent monetary properties.” – Parker Lewis
There is nothing about blockchain that makes it inherently immutable. Immutability emerges over time as the consequence of economic incentives and a native monetary unit that secures those incentives. It is hard won in the battle of monetary competition, something that cannot be copied or challenged with frivolous features, or arbitrary “utility.”
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A spiraling tower of debts to pay for our previous debts. Central Banks repeating the same policies that caused our problems as their solutions. The confiscation through counterfeit of Trillions in economic production. Massive distortions of the price mechanism & monetary authorities who argue over not whether they should, but by how much they will debase our hard earned money. Bitcoin Fixes This!
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The 5th installment of the always fascinating “Gradually, then Suddenly” series from Parker Lewis and Unchained Capital. What is the real problem that Bitcoin solves, and how does it compare to the alternatives? Are mass payments an impossible problem, and isn’t Bitcoin too slow to be global money?
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“There is no more important long-term use of energy than securing the bitcoin network.” -Parker Lewis
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To think that a hard monetary asset, with a perfectly inelastic supply, could go from a $0 market with no infrastructure, liquidity, or demand, to a global monetary instrument with vast infrastructure, the highest market liquidity, demanded by billions, but that this could somehow occur *without* volatility in the price, is an absurd & deeply ignorant claim.
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Today we start into the second in the “Gradually, Then Suddenly” series by Parker Lewis. Why altcoiners may claim their coin is for something other than money, but it must compete with Bitcoin as money regardless. Why money will only tend to one. Why copies of Bitcoin are just modern day alchemy. And why toxic maximalism is Bitcoin’s greatest strength. Don’t miss a great piece and fun discussion to follow!
Bitcoin Can’t Be Copied!🚫
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