I posted a video about the increasing money supply and investments that had done well during in the increase of money supply. I received a single reply. I wanted to reply to this comment but need a Post to do so. Let’s break down the post reply and analyze it.
This is a topic I hold dear to my heart. I started off poor and wanted to be rich. I wanted to make money but then realized money was a biproduct of something else. I kept on unwrapping the layers.
I think it's really essential to know as much about the components of something as possible.
It's 2024. Blackrock, Fidelity and others on Wall Street are now buying bitcoin on behalf of clients. Public companies are adding it to their balance sheet as a corporate treasury asset. The 6th largest pension fund in the country has started buying it. Bitcoin is now being championed by 2 of the 3 leading presidential hopefuls. People would be wise to do a little homework on understanding Proof of Work and why "boring money" is buying bitcoin.
I totally get why people can be spooked by it with all the Crypto-bros out there and scammy YouTube/Telegram/Signal stuff.
I agree - the flow of adoption seems to be
First Cypherpunks, then tech enabled Libertarians, then Libertarians & speculators, wealthy individual normies, small businesses, big businesses, pension funds then government.
Each step up the ladder needs time and consensus to be enabled.
Agreed and thank you. I talk to people about money/finance in my fiat job and the widespread ignorance about money is daunting. It's refreshing when I do encounter people who have done the homework to get past the noise and find the signal.
Great explanations. Thank you for breaking this down for us.
Thanks for reading Chris!
This is a topic I hold dear to my heart. I started off poor and wanted to be rich. I wanted to make money but then realized money was a biproduct of something else. I kept on unwrapping the layers.
I think it's really essential to know as much about the components of something as possible.
Why this irrefutable fact eludes BTC detractors, will always baffle me:
"value is actually “perceived value”
What's not to understand?
I agree Reggie. All I can think of is that its a default state of reasoning.
Thanks for reading!
It's 2024. Blackrock, Fidelity and others on Wall Street are now buying bitcoin on behalf of clients. Public companies are adding it to their balance sheet as a corporate treasury asset. The 6th largest pension fund in the country has started buying it. Bitcoin is now being championed by 2 of the 3 leading presidential hopefuls. People would be wise to do a little homework on understanding Proof of Work and why "boring money" is buying bitcoin.
I totally get why people can be spooked by it with all the Crypto-bros out there and scammy YouTube/Telegram/Signal stuff.
I agree - the flow of adoption seems to be
First Cypherpunks, then tech enabled Libertarians, then Libertarians & speculators, wealthy individual normies, small businesses, big businesses, pension funds then government.
Each step up the ladder needs time and consensus to be enabled.
Thanks John - its great seeing peoples thoughts!
Agreed and thank you. I talk to people about money/finance in my fiat job and the widespread ignorance about money is daunting. It's refreshing when I do encounter people who have done the homework to get past the noise and find the signal.
I think its pretty deliberate by the establishment to be honest
Fiat money is a control mechanism and those who control it never give it up without a fight.