Bitcoin maximalism sounds like contradiction - literally same arguments for SoW may be applied to gold, yet people aren't buying gold and causing hyperinflation in well managed economies...
@MustStopMurad
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If BTC absorbs 90%+of fiat, then wouldn’t it have to absorb more than 10% of treasury debt issued in that same fiat currency? If fiat falls 90%+ then the interest on fiat treasury debt would be phenomenal to compensate?
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Fiat value depends on governments ability to tax people - it cannot be captured - it would just evaporate... But what would be % portfolio allocation of people in such case?
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There is an old Jewish proverb: store 1/3 of your wealth in money (gold), 1/3 in land, 1/3 in business. I think the wealthy people hold far less than 33% of their wealth in cash today because that is constantly getting printed but post-hyperbitcoinization would be closer to 30%
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Bitcoin is like a sponge
, only in-elastic one
𝘀𝗽𝗼𝗻𝗴𝗲, noun \ ˈspənj \
an 𝗶𝗻-elastic porous mass of interlacing horny fibers that forms the internal skeleton of various marine animals (phylum Porifera) and is able when wetted to absorb w̶a̶t̶e̶r̶ 𝘄𝗲𝗮𝗹𝘁𝗵 -
Another definition of sponge: "3 : one who lives on others" This is more like Bitcoin and crypto, parasitizing on fiat economy.https://www.merriam-webster.com/dictionary/sponge …
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the fiat economy is government parasitizing on every fiat holder...
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There is no reason to assume that Bitcoin will absorb that wealth though. It's basically a pipe dream.
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