"Yeah, well, that's just like your opinion, man" - J. Lebowski
My general view of twitter is that it's a great place to express opinions / distribute information and a terrible place to have a conversation which is why I generally don't respond to comments but all views welcome.
Congress has laid quite the trap for itself. It’s in the
#bitcoin
vortex now. Bitcoin will be at the center of national discussion on loop, reinforcing its validity and gains in purchasing power while at the same time putting DC’s broken politics on public display. What a mess.
#Bitcoin
is going to consume so much energy that it will lift billions of people out of poverty and socialists are going to hate it because it’s not real socialism
My local breakfast spot increased 4-item breakfast tacos from $2.95 to $3.45 (17% inflation), so I’ve substituted to a 3-item breakfast taco which now costs $2.95, CPI/CPE would show this as a 0% increase but there’s been 17% food inflation. This is how it really works.
#Bitcoin
Beef inflation 38% from 18 months ago, same store, same beef. 50 years of broken money coming to a head.
#bitcoin
is the only form of money preserving purchasing power.
This video will go down as a hallmark for
#bitcoin
the smartest guys in the room had no clue and were crony capitalists all along that did not understand the most fundamental of all economic principles. There’s beauty in bitcoin.
If
#bitcoin
credibly enforces a fixed supply of 21 million, it will become the global reserve currency and unit of account for 7+ billion people. As adoption increases, bitcoin decentralizes and that supply cap becomes more and more credible. Play stupid games at your own risk.
When anyone in the future inevitably talks about ownership of
#bitcoin
not being fair, remember days and weeks like the past few. Every sat is and has been earned; if saving bitcoin were easy, everyone would do it but the hardened bitcoiner is borne of education and volatility.
Liberals are going to love
#bitcoin
when they figure out what it will do for lower income families but democrats will hate it. Conservatives will love bitcoin when they figure out what it will do to the budget deficit but Republicans are going to hate it.
Houston was always destined to be the
#bitcoin
mining capital of the world but it was clear from last week’s meetup that the energy industry is engaged in a serious way, understanding it has a critical role to play. It’s off to the races now.
I’m all for
#bitcoin
but starting to get on this recent Sats bandwagon trend, still cannot believe Sats coin is trading for only $0.00059. Say prayers for everyone that buys Sats coin after Apple Computer.
#Bitcoin
changed my life but Sats coin helped me understand how the world works. Ground breaking tech. Hard to believe $1 buys 1,694 Sats coin. And Sats coin is finite because they can't be divided into 100 million units, unlike bitcoin.
Because only ~2-4 senators know anything about what the fuck
#bitcoin
actually is, there should be bipartisan support for
@SenTedCruz
’s common sense amendment to table this whole effort by Treasury to sneak in a financial oversight law into an infrastructure bill. Total sideshow.
Just a reminder, Goldman Sachs would have failed in the great financial crisis if not bailed out & just last year, a Goldman presentation explaining why
#Bitcoin
is not a store of value claimed a dollar that loses 18% over a decade is a store of value. Smartest guys in the room.
This is pretty funny, did not realize MicroStrategy was so heavily shorted. Some morons are collectively short about 3 million shares, which if I do math correctly is about $2.4 billion. Takes some really smart professional Wall St. investors to short
#bitcoin
before the halving!
Texas is going to be the
#bitcoin
mining capital of the world because of i) massive amounts of natural resources, ii) entrepreneurs that are true wildcatters, iii) its own energy grid and iv) rational people that promote development of energy resources, both private and public.
This conversation is surreal, KC Fed President: the dollar is a “faith-based” system. John Stewart: sounds like a mirage, makes sense in “the conjuring” kind of way.
#bitcoin
is a proof-of-work system, that is the contrast and it’s going to get a lot easier for people to see.
Gradually, Then Suddenly (
#14
): Bitcoin is Common Sense
21 million bitcoin ever vs. $2,500,000,000,000 dollars created by one central bank in just two months. Money still doesn't grow on trees and there ain't no thing as a free lunch.
Microsoft has the same problem
@MicroStrategy
had, this is its balance sheet.
@Microsoft
holds $123 billion in "short-term investments" (aka credit risk) rather than dollars because the dollar is a melting ice cube; it is taking credit risk when it really just needs bitcoin.
Bloomberg still can't verify the total supply of dollars. Peter Schiff can't verify the total supply of gold. Every bitcoiner can verify the supply of
#bitcoin
run the numbers! Only 21 million bitcoin will ever exist and ~18,655,257 were circulating as of about 10 minutes ago.
The Fed printing trillions of dollars is the Wild West trying to send us back to the Middle Ages. All 100 Senators should read the
#Bitcoin
Standard before commenting.
Socialists and communists fuck up the price system every time. It’s happening right now. And that is fundamentally why both always end in economic disaster. It’s all about the price mechanism.
#Bitcoin
idiot-proofs the money supply and unfucks the price system as a direct result.
In theory, the Fed is going to raise interest rates in 2023. In practice, the Fed has printed another $167 billion new dollars just this month. 2x the height of its post financial crisis money printing experiment.
#Bitcoin
is the only way to opt out of the madness.
No one sold
#bitcoin
yesterday because of Donald Trump or because of the FBI recovering ransomware payments. People sold because of a lack of any understanding as to how bitcoin credibly enforces a fixed supply of 21 million. Start with first principles, hold your own keys.
The best part of my job is helping people understand
#bitcoin
from first principles. The second best part is helping them hold their own keys. The former is generally necessary to appreciate why the latter is so important for security. We're here to help.
A scenario:
Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues.
Bitcoin…
If you are not holding your own bitcoin private keys, let today serve as a lesson. Delete Cash App, Jack Dorsey, Twitter, Mark Zuckerberg, Google, et al. have done far more to attack the American people in the past 24 hours than any political protestors at the Capitol ever did.
Friends, I’m transitioning to a role on Unchained’s Board, which will allow me to contribute to bitcoin beyond just Unchained. First step is to complete the Gradually, Then Suddenly book. Sharing my thoughts here & will be recording on TFTC in just a bit.
Let Robinhood/CashApp suspending ability to trade certain stock serve as another warning of the growing censorship trend. Get your
#Bitcoin
off exchanges in general; it could never happen to you until it does.
Electricity prices in Massachusetts are up 30% y-o-y where very little mining occurs due to the high price, Massachusetts consumes more electricity than it produces, likely still imports gas from Russia and pays 2.5x more for power than Texas. Everything is good for
#bitcoin
Bitcoiners accumulate
#Bitcoin
, educate prolifically about bitcoin and build bitcoin infrastructure while altcoin traders take "profit" and "loss" in dollars or bitcoin; everything about the market cycle will always be explained by the contrast. Two different games being played.
Dogecoin is the funnest and friendliest crypto in the observable universe. Yes, it’s a meme coin, but all money is a meme!
@Gemini
now supports $DOGE. Woof!
Today everyone wanna be like Mike.
Was humbled to learn that my essays were valuable in
@michael_saylor
’s broader journey to bitcoin and thankful to whichever one of you crazies shared them initially, the internet is an amazing place.
After watching a panel with Marty Bent, Jamie Leverton, Greg Beard and Tony Cross, it is clear ESG is an attack on
#bitcoin
and many of the public companies are a big part of the problem but especially the bitcoin mining council.
@MartyBent
was the only sane voice on stage.
Consciously observe how freely you spend your dollars and how deliberately you evaluate spending vs. saving your
#Bitcoin
there is something deeply fundamental afoot in that equation & it is driving bitcoin monetization.
Gradually, Then Suddenly is officially available for presale exclusively on . The hardcover is expected to start shipping mid December just in time for the holidays + you can buy the e-book as well. Thanks
@saifedean
for building a great
#bitcoin
bookstore!
Just released a new edition of Gradually Then Suddenly (
#18
),
#Bitcoin
is Not a Hedge. Primed with knowledge, bitcoin is not a hedge against inflation; it is the solution to it. Without prior understanding, bitcoin can practically be neither.
Beside buying “a lot” of
#Bitcoin
, what do MicroStrategy, Michael Saylor, Square, Paul Tudor Jones, Stanley Druckenmiller, and MassMutual all have in common?
An Open Letter to Texas State Senator and sponsor of SB 1751 regarding
#bitcoin
mining in Texas by myself and
@willcole
. The bill is flawed and we hope our legislators will pause efforts & engage the Texas bitcoin community to better understand its issues.
Once you realize the ESG crowd neither cares about the environment or social good nor operates based on principles and it’s actually all about crafting a narrative to get more money to manage and fee,
#bitcoin
will make a lot more sense.
#Bitcoin
is going to consume a lot more power, from whatever sources are cheapest. Communists and socialists will always hate it. They don't care about the environment or the cost of electricity. It's about power. Trying to form better arguments assuming good faith is naive.
Government forces every working soul to pay 12% of wages as “social security” and then uses those funds to buy government bonds so the government can spend your money today because government run politicians can’t save. Really quite criminal the whole thing so buy
#bitcoin
Laser eyes are the asymmetric information in plain sight, when everyone looks back and claims
#bitcoin
distribution is not fair, there is a public record that it was out in the open for all to see.
Whatever you think about Jack's decision, the idea of holding
#Bitcoin
on or using the CashApp fundamentally changed. The risk of censorship is greater by this precedent. And, because CashApp has a max $2k withdraw per day / max $5k week, as price goes up, it gets harder & harder
Wow.
The City of Miami just announced they are going to give a Bitcoin dividend to every citizen that sets up a digital wallet.
“We’re going to be the first city in America to give a bitcoin yield as a dividend directly to its residents." -
@FrancisSuarez
This is incredible.
Did Apple, Google, Facebook or any ESG hedge fund, asset manager or private equity firm proactively reduce the power usage of their businesses in response to a winter storm in Texas?!
#bitcoin
mining aligns economic and energy incentives beautifully
Just donated a copy of Gradually, Then Suddenly to the Teton County Library at the Jackson, WY airport. Hopefully some lucky stranger comes to understand
#bitcoin
and pays it forward.
Gradually, Then Suddenly (
#12
): Bitcoin Obsoletes All Other Money
True story, I was informed I was trespassing this AM at the Dallas Fed (District 11) trying to take a pic for this post. District 12 to District 11, you are being obsoleted.
Think I just heard CNBC’s
@JoeSquawk
asking member of Congress if Chairman Powell and Secretary Yellen should read
@saifedean
’s The Bitcoin Standard. The times, they are a changing.
"They tried to ignore it to make it go away. Jamie Dimon will tell you that," says
@GOPLeader
on
#bitcoin
. "This is something that those who regulate, those who are in government that make policy better start understanding what it means for the future."
#btc
Could fix this in three hours, that’s all it would take but my time is better spent educating the oil and gas industry in Texas who actually will lead the American
#bitcoin
energy renaissance
True story, friend was at a gas station and group of fellas were debating buying
#bitcoin
at a bitcoin ATM rather than lotto tickets, subconscious save in best form of money ever vs. spend on a regressive gamble tax. Do you see what bitcoin does?
The abundance-through-scarcity of
#bitcoin
paradox. If money can be printed, there will never be enough (for anyone). If money is scarce, there will always be enough (for everyone). Abundance of goods is created through scarcity of money.
Texas is now the 9th largest economy in the world—larger than Brazil, Canada, even Russia, and it has embraced
#Bitcoin
As an energy buyer of last resort,
#Bitcoin
mining brings more security to Texas jobs, the Texas economy, and the Texas energy grid.
Shitcoins do not create demand for bitcoin, no matter how much shitcoiners want to believe it. Wrapping bitcoin in shitcoins does not create demand for bitcoin. Changing consensus code to enable shitcoins on bitcoin is a moronic idea. Support bip 300 at risk to your reputation.
Who is going to help me get this copy of the
#Bitcoin
Standard by
@saifedean
to Texas Governor
@GregAbbott_TX
? It’s one of the first off the printing press. Some may say late but I was really just planning ahead. Don’t be afraid to slip into my DMs, Governor! 🇺🇸
Gradually, Then Suddenly (
#5
): Bitcoin is Not Too Slow
Bitcoin is not Visa. Bitcoin fulfills the functions of currency issuer & final settlement, not payments. The problems of money and payments are distinct; bitcoin is 0 to 1, while payments are 1 to n.
Gradually, Then Suddenly (
#8
): Bitcoin is Not Backed by Nothing.
Back after missing a few weeks. Weekend reading for all your friends that think bitcoin is merely a collective hallucination.