Bitcoin has a production cost like gold. Historically bitcoin has bottomed in every bear market close to its production cost in 2022 it was 17k. Right now the production cost is 49k. Also it's hard for me to see a world where central banks allow that amount of deflation. We are more likely to see hyperinflation than significant deflation with the fiat regime constructed the way it is. In 1929 they had to sever the peg to gold and debase. Today they don't have to do that at all they just start printing. I'm gonna say a sub 5k call for BTC is head in the sand bearish but as always I reserve the right to be wrong...... I have managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin. in the space of a few months... I'm especially grateful to Jinny Franz’s, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
In the future we will be using SATS not Bitcoin. There is 100,000,000 SATS to every Bitcoin. Times that by 21,000,000 and that is how the world can use it
I agree that what you are saying is the existing system, but if bitcoin (or something that works like it) cannot become a global currency then the endless printing of money (regardless of its form) will never go away and continue to erode humanity. There must be a way to end borrowing in the way it’s currently being done. Earn your coin, then use it for your needs. I know this seems illogical in the world as we know it, but how else will we remove the asset backed toxic sludge that’s clogging humanity?
Nick- That's interesting- it seems that "scarcity" is a bit deeper than most people realize. At the surface level when people ask if there's "enough" bitcoin to run the world economy, we think about 21M or the sheer number of sats. I was expecting to hear this number of sats are enough, and if not, the code could be altered to create even smaller units (like microsats) without increasing base supply. Instead you argue that since humans will always want credit, and fully backed credit would be too expensive, there will still be fiat or at least some sort of fractional reserve lending. Do I understand this correctly?
The fact that people all around the world are able to purchase an asset that is decentralized and out of the realm of central banking makes it a better and more equal from of money. They are able to save in 3rd world countries. If you were born in Niger you have no control over the debauchery of the CFA and aren't able to save when the inflation rate is so absurd. Similarly, late adopters in the USA should adopt BTC over the dollar have a greater store of value. But Americans are so dazzled by all of the available and attractive liabilities they don't mind their life energy (money) and effort collapsing. Just like people don't mind their government impeding new regulations and restrictions over property rights every other generation. BTC is equality and perhaps it's a hidden part of its perfect nature. That it can render equality and justice in any geographical location.
Damian you are too woke, every question you asked related to equality and government giving hand outs. Grow up, I don't want to see your potential wasted
Great format! Damian, you’re very fortunate to be in Prof. Bhatia’s class. Well done! 👏👏👏
Bitcoin has a production cost like gold. Historically bitcoin has bottomed in every bear market close to its production cost in 2022 it was 17k. Right now the production cost is 49k. Also it's hard for me to see a world where central banks allow that amount of deflation. We are more likely to see hyperinflation than significant deflation with the fiat regime constructed the way it is. In 1929 they had to sever the peg to gold and debase. Today they don't have to do that at all they just start printing. I'm gonna say a sub 5k call for BTC is head in the sand bearish but as always I reserve the right to be wrong...... I have managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin. in the space of a few months... I'm especially grateful to Jinny Franz’s, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME...
JinnyFranz
.
I will recommend. Jinny Franz. Investing Services. to you. She is good at what she does...
You trade with Jinny Franz too? Wow that woman has been a blessing to me and my family.
Thank you for sharing your experience. I've managed to grow a nest egg of around 2.3Bitcoin to a decent 17.2Bitcoin using her tactics
Your approach is inspiring. Let’s connect!
In the future we will be using SATS not Bitcoin. There is 100,000,000 SATS to every Bitcoin. Times that by 21,000,000 and that is how the world can use it
Even less due to lost and locked sats, but yes you are correct.
So you're saying BTC will never replace the $?
I agree that what you are saying is the existing system, but if bitcoin (or something that works like it) cannot become a global currency then the endless printing of money (regardless of its form) will never go away and continue to erode humanity. There must be a way to end borrowing in the way it’s currently being done. Earn your coin, then use it for your needs. I know this seems illogical in the world as we know it, but how else will we remove the asset backed toxic sludge that’s clogging humanity?
Nick- That's interesting- it seems that "scarcity" is a bit deeper than most people realize. At the surface level when people ask if there's "enough" bitcoin to run the world economy, we think about 21M or the sheer number of sats. I was expecting to hear this number of sats are enough, and if not, the code could be altered to create even smaller units (like microsats) without increasing base supply. Instead you argue that since humans will always want credit, and fully backed credit would be too expensive, there will still be fiat or at least some sort of fractional reserve lending. Do I understand this correctly?
this is a fair summary of my opinion about the future of credit in a more bitcoin-centric world, thank you for your question and feedback!
-Nik
The fact that people all around the world are able to purchase an asset that is decentralized and out of the realm of central banking makes it a better and more equal from of money. They are able to save in 3rd world countries. If you were born in Niger you have no control over the debauchery of the CFA and aren't able to save when the inflation rate is so absurd. Similarly, late adopters in the USA should adopt BTC over the dollar have a greater store of value. But Americans are so dazzled by all of the available and attractive liabilities they don't mind their life energy (money) and effort collapsing. Just like people don't mind their government impeding new regulations and restrictions over property rights every other generation. BTC is equality and perhaps it's a hidden part of its perfect nature. That it can render equality and justice in any geographical location.
BSV
Damian you are too woke, every question you asked related to equality and government giving hand outs. Grow up, I don't want to see your potential wasted