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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Goldbugs are thinking that hyperinflation is coming and fiat money will lose value "soon" so they will be rich because they own gold - yet somehow good store of value = real estate & equity (both create inherent value) While gold / bitcoin may be seen as zero sum play
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Replying to @kacperwikiel
Bitcoin is 10x better than Gold in a variety of ways though, has a better shot. And Bitcoiners are more techno-utopian optimists than goldbugs, the latter typically expect apocalypse while the former simply think this superior money-technology will win out.pic.twitter.com/dE1ZW9Uqjd
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Replying to @MustStopMurad @kacperwikiel
That being said, it *is* zero-sum. Bitcoin can only go above $50T+ if other monetary and fin. instruments suffer. It will "absorb" wealth from other assets. I roughly think: 90%+ of fiat, 60%+ of metals, 10%+ of debt, 5%+ of real estate, 5%+ of stocks, etc. Fiat inflated latter
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Replying to @MustStopMurad @kacperwikiel
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 𝘄𝗲𝗮𝗹𝘁𝗵1 reply 0 retweets 1 like -
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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