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It’s The Attributes, Stupid
Things are scary and weird once again in the Bitcoin universe. Every Bitcoin advocate I know missed this pullback and sentiment in general is low. The price of BTC has wobbled slowly between $87k-$92k for months like a boat without a motor, and the knives are out. But once again Bitcoin don’t care.
In times like these I always try fall back to my training as an engineer: find the bedrock truth.
For 1000s of years humans have been looking for the perfect universally accepted money to transact with strangers in lieu of violence and pillaging like savages. As we evolved, we became “educated” and now we know what the hell they were searching for. They were sniffing for some physical matter that satisfied the following attributes:
They tried to use salt, shells, beads, feathers, cheese, rocks, yada, yada. Finally, the world magically converged on gold as the best money to employ for transacting with others. But of course, everyone was thinking local, point-to-point, handoffs and no one thought of an invincible, global, wall of energy that ferociously protects Bitcoin. Ultimately, it’s all about cosmic energy, all of it, and us.
Want some more emotionless metrics?
And the shapeless orgless org that nourishes our little badger:
And Bitcoin doesn’t have to worry about these types of noble but archaic concerns.
As more and more people learn about the current inflationary prison they’re in, they”ll continue to move out of USD, into gold, and into Bitcoin. It’s a slow trickle for now. Tick tock next block.
The Zippers, The Stack, The Message
Every day I pop the fedora off the top of the stack, wear it, and push it into the bottom of the stack. The next day it’s wash, rinse, repeat.
Ponzi, Ponzi, NOT
Ponzi scheme……
Ponzi scheme…
Ponzi schemes are like one and done ejaculations… 💦🍆. They ramp up quickly once, and then they undergo a blow off top, and then they crash, and then they are gone forever. Good riddance Ponzi perps.
Bitcoin is the anti-Ponzi. It has had 5, I repeat 5, price crashes of greater than 70% since birth. Even it’s off it’s all time high by only 30%, current sentiment toward the magical internet money is really negative, yet again. As the world’s “hardest” money (sorry you are in the process of being dethroned, my venerable but old and tired friend, gold), it always arises out of the ashes like the mythical Phoenix.
NOT a Ponzi scheme…
That’s because people around the world (not just here in the so-called almighty states) are valuing it more and more as it catches on and they become enlightened to the debt-orgy mess the whole world is stuck in due to wreckless, irresponsible, spending by the governments that rule over them. They are being what us maxis call, orange-pilled. Choose please: red, blue, or orange?
Fiat currency, purposefully unmoored to anything “hard” in the physical world other than paper, ink, and a cheap ass printer controlled by a centralized cabal of unelected bankers, is always debased and printed into oblivion to accommodate the political spending machine. I hate when that happens, don’t you?
Two Charts
I can’t get the 2 charts below outta my surgically repaired head (see last pic below) today. On the top we see all the “value” stored in a melting ponzi paper-currency game which is debased 7%/year on average via money supply growth (forget about the rigged 3.0% CPI that the pols try to make you believe every year). Prices are up by 25% since 2021).
In the top left corner we see a tiny sliver of the monster $900T asset market value currently stored in Bitcoin’s tiny little sub $2T space. A 10x rise in price from here at $90k would only stuff $20T more into the space. Hence, that’s what people mean by Bitcoin being the greatest asymmetric trade of all time and why some predict $1M Bitcoin in the not too distant future.
It still blows me away how early it is in the evolution and adoption of BTC, but when the world is undergoing a major scientific revolution it gets turned upside down and the entrenched interests get exposed and expelled. In Thomas Kuhn’s eye opening “The Structure of Scientific Revolutions” he points out all the major historical paradigm shifts and they all resonate with his logic.
Next, we see how volatile the price of gold was in Weimar Germany against the German mark when the country exploded into hyperinflation. Who would’ve thought gold would be so volatile as a store of value. But in volatile times, everything becomes volatile. I don’t think the US will go hyper, but the macro economists I follow think 15-20% inflation is imminent, like next year. D’oh!
And third, we see why the rest of the fiat-paper brains don’t get it. Science progresses via a succession of funerals for the elite and smugly installed power base. Tick tock next block.
BTW, here’s my surgically repaired head, but that’s a story for another day. 
Why am I here?
WTF?
Meh!
D'oh!
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