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
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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Replying to @truthtracker_ @MustStopMurad
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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