Fantastic article! Thank you! I think it's slowly catching on and the wave of central bank and (US) federal spending spree instigated inflation ought to wake people up to real sound money ₿.
Thanks for the article. I’m continually amazed at satoshi’s altruism. One minor thing (and I could be wrong as I often am) but I believe the genesis block was on 3 Jan 09 not the 9th. Can you confirm?
Since we are still in the early stages, current buyers and holders of Bitcoin are Bitcoin Cantillonaires and will reap the rewards just like the dollar Cantillonaires.
Is that just or unjust? 🤔
Also, how much Bitcoin does The Fed and big global banks and investment firms already own?
How easy would it be for the Fed or JPMorgan or BlackRock to manipulate the Bitcoin market/price? I would imagine that if the big players like black rock want to get into the bitcoin ETF business, they would want to own their own in a big reserves of bitcoin, in order to be a market maker, and provide liquidity but with their own funds would they be able to manipulate the price?
Fidelity is already in the game because they allow you to 'buy' bitcoin. (I do with them) So they have their own pool of bitcoin that they allow you to have a claim of without directly owning it.
I mean, I haven't really read about this being discussed, but surely it has, but I just could imagine it may be in the interest of the federal reserve to manipulate the price of bitcoin since it's competing with the dollar or maybe the Chinese would do it?
First movers should be rewarded the most. They take the biggest risks so it is justified. Also, unlike fiat where you can collect rent (interest %) for doing nothing as the money supply is expanded, Bitcoin is finite so value must be exchanged by Bitcoin trading hands. Side note: I understand the Lightning network offers 3-5% yield capability but that’s a layer 2 deep dive discussion.
Re: Bitcoin price manipulation, look at what FTX attempted and got caught swimming naked with a barely a fraction of the Bitcoin they said they had. Can’t f*ck around with Bitcoin. The big institutions can try in the short term (on their manipulated balance sheet) but they’ll only end up getting exposed eventually. Truth wins because there’s no way to fake an honest ledger that is verified globally every ~10 minutes.
Thanks! I'm a big believer in Bitcoin long-term. Like you say, it's built on security/trust (truth) and that will win out as people continue to learn about Bitcoins benefits.
I'm usually overly optimistic but also try to be skeptical. Good example with FTX. 🤞
People early to bitcoin will surely be rewarded, because of their bravery, intelligence, inquisitiveness, forethought, open-mindedness, willingness to help humanity, great intellect, diverse intellectual interests etc. Some just got lucky. Everyone gets Bitcoin at the price they deserve. The whole world already heard about bitcoin. Anyone that hasn't bought, didn't deserve to get in early (this goes for myself, that didn't pull the trigger early on).
I am fascinated by the implications of the deflationary stance.
1) deflation usually coincides with a lower velocity of money
2) Bitcoin captures that all data can be monetized
What does the world look like if effectively the breaks are applied to the velocity of data?
I think the closest example we have is what happened during ~150 years of the gold standard prior to the advent of central banking... https://www.onceinaspecies.com/p/deflation-vs-inflation-a-response
Fantastic article! Thank you! I think it's slowly catching on and the wave of central bank and (US) federal spending spree instigated inflation ought to wake people up to real sound money ₿.
Exactly! One gets worse, while the other keeps getting better
You’re one of my favorite writers in the space. Never become a sellout.
Great article. Really enjoy hearing your thoughts on Bitcoin on the various platforms. Have a good day.
Wonderful short article.
Thanks for the article. I’m continually amazed at satoshi’s altruism. One minor thing (and I could be wrong as I often am) but I believe the genesis block was on 3 Jan 09 not the 9th. Can you confirm?
Jan 3. Easy to confirm. The date is there in the block for all time. He posted a screenshot of it.
That’s what I thought. I better remember that it’s my wedding day. 😀
Since we are still in the early stages, current buyers and holders of Bitcoin are Bitcoin Cantillonaires and will reap the rewards just like the dollar Cantillonaires.
Is that just or unjust? 🤔
Also, how much Bitcoin does The Fed and big global banks and investment firms already own?
How easy would it be for the Fed or JPMorgan or BlackRock to manipulate the Bitcoin market/price? I would imagine that if the big players like black rock want to get into the bitcoin ETF business, they would want to own their own in a big reserves of bitcoin, in order to be a market maker, and provide liquidity but with their own funds would they be able to manipulate the price?
Fidelity is already in the game because they allow you to 'buy' bitcoin. (I do with them) So they have their own pool of bitcoin that they allow you to have a claim of without directly owning it.
I mean, I haven't really read about this being discussed, but surely it has, but I just could imagine it may be in the interest of the federal reserve to manipulate the price of bitcoin since it's competing with the dollar or maybe the Chinese would do it?
First movers should be rewarded the most. They take the biggest risks so it is justified. Also, unlike fiat where you can collect rent (interest %) for doing nothing as the money supply is expanded, Bitcoin is finite so value must be exchanged by Bitcoin trading hands. Side note: I understand the Lightning network offers 3-5% yield capability but that’s a layer 2 deep dive discussion.
Re: Bitcoin price manipulation, look at what FTX attempted and got caught swimming naked with a barely a fraction of the Bitcoin they said they had. Can’t f*ck around with Bitcoin. The big institutions can try in the short term (on their manipulated balance sheet) but they’ll only end up getting exposed eventually. Truth wins because there’s no way to fake an honest ledger that is verified globally every ~10 minutes.
Thanks! I'm a big believer in Bitcoin long-term. Like you say, it's built on security/trust (truth) and that will win out as people continue to learn about Bitcoins benefits.
I'm usually overly optimistic but also try to be skeptical. Good example with FTX. 🤞
People early to bitcoin will surely be rewarded, because of their bravery, intelligence, inquisitiveness, forethought, open-mindedness, willingness to help humanity, great intellect, diverse intellectual interests etc. Some just got lucky. Everyone gets Bitcoin at the price they deserve. The whole world already heard about bitcoin. Anyone that hasn't bought, didn't deserve to get in early (this goes for myself, that didn't pull the trigger early on).