Brilliant. A substack definitely worth subscribing to, imho. Let the ostrich-like uneducated fools continue to earn their financial Darwin Awards.
Anyone who understands Btc knows a powerful truth. The rest would have to assert and prove that the people of all those adopting countries are just plain naive or brainless. You know. Like drivers wearing masks. But that’s another story, and even Btc can’t save them.
Thanks for writing this excellent intro of bitcoin for new people! I've been in bitcoin since 2017 and it is the only way out of a crumbling fiat system.
A couple of things I want to add:
Gold may be a store of value, but it has failed as a medium of exchange. This is why bitcoin is the compelling case in the age of the internet.
Bitcoin's greatest threat to the establishment is something that even gold can't do. It is disintermediating the middle man, aka banks and credit card companies. Once merchants realize they could use bitcoin lightning network instead of Visa, they can save the 3% fee. This huge globally and it is being introduced in various jurisdictions such as El Salvador, Lugano (Switzerland) and Madeira (Portugal).
Bitcoin's success is guaranteed since the devaluation of the dollar and all other fiat currencies is already baked into the cake.
Bitcoin's current fair value should be north of $500,000 per bitcoin based on the fact that gold's market cap is 12 trillion and bitcoin's ability to put all credit card companies out of business (you can add up the total market cap of all credit card companies and add those of money transmitters such a as Western Union).
Get educated folks before the train leaves the station without you.
Everyone realizes that the gov't of Canada took control of bitcoin accounts and froze them during the Canadian "truckers" event, right?
Explain, because none of this is true if Chrystia Freeland (literal Nazi deputy Prime Minister) has control of your bitcoin account(s). If she can, for a bunch of truckers protesting, why would I ever trust anything anyone says about bitcoin?
Robert Yoho, why would someone like me ever say anything critical? YOu are giving us valuable informaiton, and I for one am grateful I wanted to buy bitcoin years ago, was discouraged by my broker, and still want to buy it. I am old, and not sure where I can learn how. I do know I want a cold wallet, but if you could point me in the right direction to get step by step instructions on how to purchase real bitcoin, I would be for one forever grateful.
There might be a few who buy cryptos for the perceived security. But most are purely speculators. It's basically a video game. Actually, some people speculate on property in video games. Zuckerberg hopes to become a broker in that "metaverse." Like the cryptos, he'll find a few investors. Look up tulip mania to see how it works.
As for security, sophisticated hackers may have failed, but they don't have acres of computers. Let's see, who has acres of computers?? No algorithm is truly secure.
BTC is near its max now, that remaining bit might be hard to come by at current pricing in that the mining cost has been exponential. Owning some BTC may be quite wise but only in your personal wallet, be sure your keys are replicated and known to any survivors should you pass. We have no idea how much BTC has simply vanished from lost keys. ETH may be also useful in terms of web money and BTC - ETH has few fees. BTC ATMs are horrid places often with 15%+ fees.
Anybody that think it's private, think again the blockchain lives forever. TOR travels may help obscure your tracks and claims of shuffle transfers may help, but detection can trap many. But your wallet is safe from spying.
Brilliant. A substack definitely worth subscribing to, imho. Let the ostrich-like uneducated fools continue to earn their financial Darwin Awards.
Anyone who understands Btc knows a powerful truth. The rest would have to assert and prove that the people of all those adopting countries are just plain naive or brainless. You know. Like drivers wearing masks. But that’s another story, and even Btc can’t save them.
Thanks for writing this excellent intro of bitcoin for new people! I've been in bitcoin since 2017 and it is the only way out of a crumbling fiat system.
A couple of things I want to add:
Gold may be a store of value, but it has failed as a medium of exchange. This is why bitcoin is the compelling case in the age of the internet.
Bitcoin's greatest threat to the establishment is something that even gold can't do. It is disintermediating the middle man, aka banks and credit card companies. Once merchants realize they could use bitcoin lightning network instead of Visa, they can save the 3% fee. This huge globally and it is being introduced in various jurisdictions such as El Salvador, Lugano (Switzerland) and Madeira (Portugal).
Bitcoin's success is guaranteed since the devaluation of the dollar and all other fiat currencies is already baked into the cake.
Bitcoin's current fair value should be north of $500,000 per bitcoin based on the fact that gold's market cap is 12 trillion and bitcoin's ability to put all credit card companies out of business (you can add up the total market cap of all credit card companies and add those of money transmitters such a as Western Union).
Get educated folks before the train leaves the station without you.
Everyone realizes that the gov't of Canada took control of bitcoin accounts and froze them during the Canadian "truckers" event, right?
Explain, because none of this is true if Chrystia Freeland (literal Nazi deputy Prime Minister) has control of your bitcoin account(s). If she can, for a bunch of truckers protesting, why would I ever trust anything anyone says about bitcoin?
Robert Yoho, why would someone like me ever say anything critical? YOu are giving us valuable informaiton, and I for one am grateful I wanted to buy bitcoin years ago, was discouraged by my broker, and still want to buy it. I am old, and not sure where I can learn how. I do know I want a cold wallet, but if you could point me in the right direction to get step by step instructions on how to purchase real bitcoin, I would be for one forever grateful.
There might be a few who buy cryptos for the perceived security. But most are purely speculators. It's basically a video game. Actually, some people speculate on property in video games. Zuckerberg hopes to become a broker in that "metaverse." Like the cryptos, he'll find a few investors. Look up tulip mania to see how it works.
As for security, sophisticated hackers may have failed, but they don't have acres of computers. Let's see, who has acres of computers?? No algorithm is truly secure.
BTC is near its max now, that remaining bit might be hard to come by at current pricing in that the mining cost has been exponential. Owning some BTC may be quite wise but only in your personal wallet, be sure your keys are replicated and known to any survivors should you pass. We have no idea how much BTC has simply vanished from lost keys. ETH may be also useful in terms of web money and BTC - ETH has few fees. BTC ATMs are horrid places often with 15%+ fees.
Anybody that think it's private, think again the blockchain lives forever. TOR travels may help obscure your tracks and claims of shuffle transfers may help, but detection can trap many. But your wallet is safe from spying.
Thanks, but NO thanks on Bitcoin for me. I'll buy gold and silver for now, at least. I'm just not 'there' yet, I guess.