Jeremy Cady

Christian | Husband | Father | Small biz owner. Won 3 U.S. Senate races & cut MO taxes by billions - three times. #Freedom #Bitcoin #AI

[Jeremy Cady @jeremycady]

Fair. A multi-millennia track record is the strong card gold holds. Gold has 5,000 years, Bitcoin has 16.

But even in your own example, Rome debased the aureus repeatedly. Gold held its fundamental value because it could be weighed. Verification is the whole game, and to truly verify gold, it must be melted down.

That's what Bitcoin hardens. No emperor can quietly restrike 21 million into 30 million. Its supply is unclippable and its scarcity can be verified in seconds. You don't have to carry a scale or a smelter.

Plus, holding the same weight of gold for 2,000 years isn't an achievement, it's gold being an element. And because it's an element, it can be dug up. It doesn't have a cap and its supply inflates every year.

You can hold Bitcoin too. It sits there, just like gold, until you want to use it.

Gold is weighable. Bitcoin is math.

I have no issue owning gold, but the odds that Bitcoin takes the lead from gold are greater than zero.

I also just personally verified the exact amount of Bitcoin in existence at this exact moment: 20,055,726. Try doing that with gold's supply.

[Jeremy Cady @jeremycady]

On Deaton. Nearly all of it transfers to Bitcoin as well. It has no duration risk, no credit or liquidity risk, no counterparty, and no forecasting. It isn't moved by insolvency, FX chaos, or a balance sheet. It has no margin calls, no refinancing, and no management. Neither gold nor Bitcoin is a liability, and both need to be safely held.

As for faith and goodwill, Bitcoin is trustless and depends on them even less than gold does.

Yes, the fiat price of BTC did fall in 2022. It has typically followed a four year cycle linked to the "halvening," when Bitcoin's rate of new issuance is cut in half. Bitcoin's inflation curve bends negatively toward zero, while gold's supply keeps growing exponentially.

But like Williams says, the price will ultimately take care of itself. That's as true for Bitcoin as it is for gold.

One reason it currently trades like a risk asset is that some very wealthy groups treat it as one. They don't determine its underlying properties though, no different than those who speculate on gold.

Another reason is that it's the most liquid asset there is. When the market moves, or is about to, Bitcoin can be traded and settled 24/7, something the gold market can't match.

Bitcoin has all the same properties as gold, and then some.

[Jeremy Cady @jeremycady]

@PeterKinder You don't say...

[Jeremy Cady @jeremycady]

Very true. I tend to also add a "medium of exchange" and a "unit of account."

Both gold and Bitcoin are pretty widely used as a store of value and as a hedge against fiat. Both have ETFs, holding companies, and the ability to self-storage as methods to store said value.

Though, self-storage, in both cases, is the only 100% guaranteed way to ensure you're actually holding what you believe you are holding.

[Jeremy Cady @jeremycady]

@petesmithtoday @ttmygh I am certain we do.

What is money?

[Jeremy Cady @jeremycady]

@katsuxbt @obj doesn't understand money.

[Jeremy Cady @jeremycady]

@sethforprivacy You see this elsewhere, it seems society has lost the ability to agree to disagree.

[Jeremy Cady @jeremycady]

@mearmstrong77 The constitutional obligations aren't impacted whatsoever.

Every $100 million of revenue growth .1% cut.

It's been working, it'll continue to work.

It's probably what they'll end up doing already.

[Jeremy Cady @jeremycady]

@mearmstrong77 No so. Every tax cut we've had over the decade has been done in this method.

We even attempted to do a full elimination on the cut during Parson's term.

It isn't the speediest method, but it is a viable method.

[Jeremy Cady @jeremycady]

@mearmstrong77 Potentially.

A5 isn't required to eliminate the income tax.

It just gives the ability to speed up the process.

It's still 100% possible with it.

[Jeremy Cady @jeremycady]

@jeremytrimble Might still be worth the fine.

[Jeremy Cady @jeremycady]

@marcuslemonis @TheBigMoneyShow @dagenmcdowell @RiggsReport @JackieDeAngelis @BrianBrenberg Buy.

[Jeremy Cady @jeremycady]

@mearmstrong77 From what I can tell, they'll get another opportunity.

Maybe the can clean up their language next year when they try again.

[Jeremy Cady @jeremycady]

@mearmstrong77 The drafters of this amendment did themselves no favors.

It's as if they had no idea they would later need to sell the idea to the general public.

[Jeremy Cady @jeremycady]

@mearmstrong77 Normally would need a vote -> Hancock.

[Jeremy Cady @jeremycady]

@mearmstrong77 Yep.

For new revenues created due to expanding sales tax to services they only have to reduce their rates by 97% of the new amount.

[Jeremy Cady @jeremycady]

@NickBSchroer I hope you're not done yet...